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 Logo Petro-Teach
as course ECO 700. Visit
for registration & Petro Teach conditions