Course #05 – 3 days (Entry to Intermediate level)
- Reserves Definition/Assessment and Project Economics

Who should attend:

Geoscientists (Geology, Geophysics & Petrophysics); Reservoir, Petroleum & Drilling Engineers, Anyone interested in Petroleum Economics

Course Overview:

65% Teaching & 35% Practical
Definition of Resources & Reserves. Reserves vs. Contingent vs. Prospective Resources. What differentiates them (technically & economically)
Fundamentals of Petroleum Economics. Cashflow, Risk/Ranking, Technical & Economic merits.
Overview of world resources/reserves and production trends.
Volumetric Resources Computation. Emphasis on Net-Pay and the selection of cut-offs, fluid contacts and transition intervals and how to account for these in Resource estimates
Deterministic and Probabilistic approaches to resource and reserves computations
Key economic definitions, CAPEX, OPEX, ABEX, Royalties and Taxes and Cost Recovery.
Cashflow modelling and Economic metrics to screen and benchmark projects.
Participants split into teams for tutorial, where they have to optimise a FDP and carry out a cashflow simulation to determine its viability
Participants/ Teams given 20 minutes to present evaluation results, conclusions & recommendations on final day

Non-refundable 10% of fees payable within 10 working days of Registration Request
Balance payable 15 working days before start of the course

This Course is offered under the auspices of
as course ECO 700. Visit www.petro-teach.com
for registration & Petro Teach conditions