Course Description
Assessing and managing investments involves the interaction
of many variables. This course introduces all these variables and the methods
of assessing the petroleum projects in scope of risk analysis and uncertainty.
These variables are about reservoir characteristics, soil characteristics, and
financial issue. It presents the basic principal of petroleum investment and
all the factors effecting the economic of the oil projects as the international
investment agreement, taxes, and money value with time.
The course will go through the tools that control the time
and cost to mange the project risk and discuss how to apply the total quality
management in the project. The main items of the modern technique in project
management will be discuss in the course.
This course is intended for petroleum, facilities and
project engineers who are interested in the area of evaluating the projects and
calculating risk assessment for petroleum project investment. This course
enables delegates already familiar with petroleum industry, the decision tree
methods and all economical and statistics terms used in evaluating petroleum
project related to economics point of view. So the intendees will have the
capability to take the decision of investment based on economics risk
assessment.
The method of evaluation will be done by using crystal
ball program which is based on Monte-Carlo simulation technique.
Course Objective
This course enables delegates already familiar with
petroleum industry, the decision tree methods and all economical and statistics
terms used in evaluating petroleum project. So the intendees will have the
capability to take the decision in the project based on economics risk
assessment.
Who Should attend?
Petroleum engineers, facilities engineers and project
engineers for senior and junior who are working on the evaluation of different
projects in scope of economic calculations.
Course Outline
Day 1
·
Elements
of Project Evaluation.
·
Stages
of projects in oil and gas business
·
Making
business decision.
·
Purpose
of evaluation.
·
Tools
for evaluation.
·
Fundamental
of petroleum reservoir.
·
Management
issues in project evaluations.
Day 2
·
The
Economic Analysis
·
Estimating
the flow of money
·
Time
value of money
·
Traditional
models of profitability
·
International
operating agreement
·
Forecasting
the technical Component in Petroleum Investments.
·
Cost
control tools
Day 3
·
About
risk and uncertainty
·
Sampling
and statistics
·
Types
of distribution
·
Probability
theory
·
Standard
distributions
·
Analysis
of the data
·
Golden
rules of statistics
·
Assessing,
Presenting And Managing Project Risk.
·
Organization
affect project success
Day 4
·
Sensitivity
analysis
·
Application
of decision tree
·
Crystal
Ball program for analysis
·
Monte-Carlo
simulation and other simulation technique.
·
CPM
method for planning
·
PERT
method for projects planning
Day 5
·
Workshop
about Qualitative risk assessment
