Course Schedule

Description

In a rapidly evolving oil and gas landscape, strategic economic evaluation is vital for optimizing reservoir assets. This course covers advanced economic concepts and methodologies to assess reservoir value, manage risks, and maximize investment returns. From cash flow forecasting and financial metrics to sensitivity analysis and project valuation, participants gain comprehensive knowledge and practical tools for high-impact decision-making in reservoir management.

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Course Description

Introduction


Advanced Reservoir Economics is designed for professionals seeking a deeper understanding of economic evaluation techniques within the oil and gas sector. Participants will explore advanced methodologies in reservoir economics, learn to apply economic tools to various reservoir scenarios, and understand how to make informed decisions that enhance profitability and resource efficiency.

Objectives


  • To equip participants with advanced knowledge of reservoir economic evaluation techniques.
  • To enable accurate assessment of cash flows, profitability, and project feasibility.
  • To introduce methods for conducting sensitivity analysis and evaluating economic risks.
  • To enhance strategic decision-making skills in reservoir asset management.

Training Methodology


This course combines theoretical learning with practical application, featuring interactive sessions, real-life case studies, group exercises, and hands-on simulations. Participants will have the opportunity to apply concepts in a realistic setting, allowing for a robust learning experience.

Organisational Impact


Enhanced economic analysis capabilities within teams.

Improved decision-making processes for reservoir investments.

Strengthened ability to assess and manage economic risks.

Greater alignment of reservoir management with organizational profitability goals.

Personal Impact


Advanced understanding of reservoir economic principles and tools.

Enhanced skills in cash flow analysis, risk assessment, and sensitivity evaluation.

Ability to make data-driven investment decisions.

  • Increased confidence in evaluating and recommending reservoir projects.

Who Should Attend?


This course is ideal for reservoir engineers, petroleum economists, financial analysts, and professionals involved in investment and decision-making within the oil and gas industry.

Course Outline


Day 1: Introduction to Reservoir Economics

Productivity Index

Payback Period

Explicit and Implicit Costs

Relationship Between Average and Marginal Cost

Opportunity Cost Estimation



Day 2: Economic Analysis Techniques

Elasticity of Price and Demand

Discounted Cash Flow Analysis

Net Present Value

Internal Rate of Return



Day 3: Data Analytics and Scenario Management

Sensitivity Analysis

Break-Even Analysis

Goal Seek

Data Table

Scenario Manager



Day 4: Forecasting and Dashboarding Methods

Gas Material Balance Forecast

P/z Method

Bg Method

Pressure Build-Up Forecast

Deconvolution



Day 5: Risk Assessment and Simulation

Risk and Uncertainty Assessment

Decision Making through Monte Carlo Simulation

Forecasting Material Balance Estimations



Day 6: Performance and Flow Estimation

Inflow Performance Relation

Estimation for Economic Stabilized Flow

Back Pressure Test

Estimation of AOFP



Day 7: Decline Curve Analysis and Economic Limits

Production Decline Curve Analysis (DCA) Types

Prognostication of Reserves through DCA

Initial Decline Rate (Di)

Iteration of B as DCA Exponent

Economic Limit Estimation

Certificates


On successful completion of this training course, PEA Certificate will be awarded to the delegates

About The Trainer