OIL AND GAS PRODUCTION ECONOMIES
Course Code
EOG 202
Category
Oil & Gas
Scope
Oil & Gas
Duration
4 days
Status
ACTIVE
Competency
Ability to apply economic analysis to oil and gas projects.
Target Audience
Oil and gas economists, project managers, financial analysts, and decision-makers.
Course Overview
This training course focuses on the application of economic and uncertainty analysis to oil and gas projects. It provides participants with the essential principles, tools, and methodologies needed to evaluate projects, assess risks, and make informed decisions in a capital-intensive industry susceptible to market volatility. The program emphasizes developing analytical skills to facilitate high-quality decisions and build long-term business resilience for complex systems and projects. The course examines the requirements of ISM Code, ISO 31000, SPE Petroleum Resources Management System, UN Framework Classification for Resources, IMO GHG Strategy and MARPOL Annex VI as they apply to oil and gas production economies. Participants will develop practical skills to facilitate high-quality decisions by effectively analyzing data under conditions of uncertainty, identify and recognize the primary sources of uncertainty within the hydrocarbon business, apply effective modeling frameworks for rigorous quantitative analysis of oil and gas projects, develop the ability to transform raw data into actionable knowledge, thereby fostering organizational resilience and compare project alternatives from both operational performance and economic perspectives to optimize business outcomes.
Learning Objectives
- Facilitate high-quality decisions by effectively analyzing data under conditions of uncertainty.
- Identify and recognize the primary sources of uncertainty within the hydrocarbon business.
- Apply effective modeling frameworks for rigorous quantitative analysis of oil and gas projects.
- Develop the ability to transform raw data into actionable knowledge, thereby fostering organizational resilience.
- Compare project alternatives from both operational performance and economic perspectives to optimize business outcomes.
Daily Topics
Day 1: Economic Analysis – Principles, Uncertainty analysis; SPE PRMS, UNFC, ISM Code resource management.
Day 2: Modeling – Modeling frameworks, Quantitative analysis; ISO 31000, OECD Transfer Pricing Guidelines.
Day 3: Decision-Making – Data analysis, Project alternatives; Production Sharing Agreements, Concession Agreements, National fiscal regimes.
Day 4: Business Resilience – Organizational resilience, Case studies; IMO GHG Strategy, MARPOL Annex VI.
References
ISM Code (resource management), ISO 31000 (Risk Management), SPE Petroleum Resources Management System (PRMS), UN Framework Classification for Resources (UNFC), IMO GHG Strategy (decarbonization economics), MARPOL Annex VI (emissions economics), OECD Transfer Pricing Guidelines, National fiscal regimes, Production Sharing Agreements (PSA), Concession Agreements.
Upcoming Course Dates
January 11 – January 14, 2027