course | Basic Petroleum Economics
Boost your profile through Basic Petroleum Economics. Expert trainers, practical exercises, and recognized certification in Dubai.
OGC-1314 | Basic Petroleum Economics
Course Sector : Oil, Gas and Chemical
| Duration | Date from | Date to | Course Venue | Course fees | Book a course |
|---|---|---|---|---|---|
| 5 Days | 20/09/2026 | 24/09/2026 | Riyadh | $4,250 | Book now |
| 5 Days | 19/10/2026 | 23/10/2026 | Abu Dhabi | $4,250 | Book now |
| 5 Days | 15/03/2027 | 19/03/2027 | London | $4,950 | Book now |
| 5 Days | 14/06/2027 | 18/06/2027 | Dubai | $4,250 | Book now |
Course Introduction
Understanding basic petroleum economics is essential for making informed investment and operational decisions in the oil and gas industry. It helps professionals evaluate project feasibility, forecast financial outcomes, and manage risks. Sound economic analysis ensures better resource allocation, cost control, and profitability. Knowledge of petroleum economics is critical for navigating market fluctuations and supporting strategic planning.
This training program covers fundamental concepts of petroleum economics, including project evaluation, cost analysis, financial forecasting, and risk management. Each day focuses on key aspects, using practical examples and case studies. Participants will learn how to analyze project viability, calculate economic indicators, and assess market conditions. The program also explores best practices for economic decision-making in the oil and gas sector.
Training Course Methodology
This course is designed to be interactive and participatory, and includes various learning tools to enable the participants to function effectively and efficiently. The course will use sessions, exercises, case applications, and presentations about proven-by-practice methods, new insights, and ideas about the topic and its effects in the corporate world.
Course objective
- Understand the basics of petroleum economics and its importance in decision-making.
- Learn techniques for economic evaluation of oil and gas projects.
- Gain skills in cost analysis, forecasting, and profitability assessment.
- Identify and manage economic risks in petroleum projects.
- Apply best practices for economic reporting and communication.
Course audience
- Petroleum engineers
- Reservoir engineers
- Financial analysts in the energy sector
- Project managers
- Energy consultants
Course Outline | 01 Day One
Introduction to Petroleum Economics
- Understanding the role of economics in the oil and gas industry.
- Basic concepts of supply, demand, and pricing.
- Overview of petroleum market dynamics.
- Importance of economic evaluation in project planning.
- Key economic terms and definitions.
- Introduction to financial indicators in petroleum projects.
- Common challenges in petroleum economic analysis.
Course Outline | 02 Day Two
Project Evaluation and Economic Indicators
- Understanding capital and operating costs.
- Calculating Net Present Value (NPV) and Internal Rate of Return (IRR).
- Determining payback periods and profitability indexes.
- Evaluating project cash flows and break-even points.
- Sensitivity analysis for project evaluation.
- Using software tools for economic calculations.
Course Outline | 03 Day Three
Cost Analysis and Forecasting
- Identifying fixed and variable costs in petroleum operations.
- Estimating exploration, development, and production costs.
- Forecasting production volumes and revenues.
- Analyzing cost structures for better decision-making.
- Applying discount rates in financial forecasting.
- Managing cost uncertainties and assumptions.
Course Outline | 04 Day Four
Risk Analysis in Petroleum Economics
- Identifying economic risks in oil and gas projects.
- Methods for assessing and quantifying risks.
- Conducting scenario and sensitivity analysis.
- Using probabilistic models for risk evaluation.
- Strategies for managing economic risks.
- Analyzing the impact of market fluctuations.
Course Outline | 05 Day Five
Economic Reporting and Decision-Making
- Preparing economic reports and presentations.
- Communicating economic analysis results to stakeholders.
- Using economic data to support strategic decisions.
- Best practices for presenting complex economic information.
- Addressing challenges in economic reporting.
BOOST’s Professional Attendance Certificate “BPAC”
BPAC is always given to the delegates after completing the training course,and depends on their attendance of the program at a rate of no less than 80%,besides their active participation and engagement during the program sessions.
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