

Advanced Reservoir Economics
Description
Demo Class
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.
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
On successful completion of this training course, PEA Certificate will be awarded to the delegates