Study of the economic principles and methods used to evaluate the profitability of oil and gas projects.
Reservoir geology: Understand the rock formations, properties and the geological processes that lead to the deposition and formation of hydrocarbons.
Reservoir engineering: Understanding fluid flow, pressure and temperature management, and production optimization techniques in a reservoir.
Production engineering: Techniques used to improve the performance of individual wells like artificial lift and stimulation methods.
Oil and gas mixing, separation and transportation: Conceptual understanding of the processes involved in separating oil and gas at the wellhead, transportation pipelines and storage tanks.
Oil and gas markets: Understand the global oil and gas markets and how supply and demand factors affect prices.
Petroleum fiscal systems: Understanding the fiscal regimes relating to oil and gas, taxations, royalties, production sharing contracts, and other financial agreements between oil companies and governments.
Petroleum accounting: Understanding the accounting principles and practices in petroleum, including operational and financial risk management.
Petroleum reserve estimation: Techniques used to determine the amount of hydrocarbons that can be economically recovered in a field.
Risk analysis: Techniques used to assess the risks and uncertainties associated with the economic evaluation of petroleum projects.
Project economics: An overview of investment appraisal techniques used to evaluate the viability of a petroleum project.
Enhanced Recovery Techniques: Understanding methods used to increase the recovery of hydrocarbons from a reservoir beyond initial levels.
Environmental Protection: The importance of environmental protection measures and regulations that affect the production and exploration of petroleum.
Legal and regulatory framework: Understanding the legal frameworks governing petroleum exploration, production and transportation.
Marginal fields: Understanding the economics of developing marginal or smaller petroleum fields, and the associated risks and opportunities.
Emerging technologies: Overview of new technologies incorporated into the petroleum industry, including Artificial Intelligence, Machine learning and the Internet of Things (IoT).
Reservoir engineering economics: This type of Petroleum Economics deals with the economics of managing and producing hydrocarbons from a reservoir. It includes activities such as reservoir simulation, well evaluation, and production forecasting.
Field development economics: This type of Petroleum Economics deals with the economics of developing new oil and gas fields. It includes investment analysis, project management, and decision-making processes related to the development of a field.
Asset management economics: This type of Petroleum Economics deals with the economics of managing existing assets. It includes activities such as maintenance, optimization, and decommissioning of assets.
Exploration economics: This type of Petroleum Economics deals with the economics of exploration activities, including drilling and seismic surveys. It includes risk analysis, investment decision-making, and resource assessment.
Refining economics: This type of Petroleum Economics deals with the economics of refining crude oil into finished products such as gasoline, diesel, and jet fuel. It includes activities such as crude oil purchasing, refinery optimization, and production scheduling.
Downstream economics: This type of Petroleum Economics deals with the economics of marketing and distributing petroleum products. It includes activities such as pricing, logistics, and supply chain management.
Fiscal economics: This type of Petroleum Economics deals with the economic analysis of taxation and revenue sharing agreements between governments and oil companies. It includes activities such as royalty and tax calculation, contract negotiation, and government relations.
Environmental economics: This type of Petroleum Economics deals with the economic analysis of environmental regulations and sustainability issues related to the oil and gas industry. It includes activities such as carbon pricing, emissions reduction strategies, and environmental impact assessment.