- Fees / Price AED 12,672
- Duration 4 Days
- Locations Deira
The course will enable participants to apply a structured approach to project justification, investment appraisal and decision making in the upstream petroleum business
Who Should Attend?
Those with little or no previous project investment appraisal experience
- Basic concepts
Identifying project cash flows and sources of information
- How to calculate the Accounting Rate of Return (ARR)
Project payback. Net present value (NPV). Internal rate of return (IRR)
and the cost of Capital. Profitability index (PI). Strengths & limitations
of each method
- Project ranking - how to choose the best alternative
How to optimise expenditure
- How to deal with inflation
Taking account of taxation
- Accounting measures vs. Economic measures
Understanding other financial criteria for decision making. Balancing short
term vs. long term business objectives
- Economics, risk and decisions - decision to points are risk points
Decision points for oil fields and gas fields. Risk & probability
definitions and concepts. Risk identification, measurement & management.
Forecasting as risk management. Assumptions, sensitivities & risk
- Exploration and appraisal decisions, uncertainty, risk and exposure Monte Carlo Simulation
Economic models and spreadsheet design
Work scope definition and options. Decommissioning economics & risks. Cost
estimating and Contingencies. Financing options. Construction contracts
- Further development decisions and economic cut off
- Preparing convincing project proposals
- Post project appraisal
Upon completion of the course, participants should be able to:
- apply economic and risk management evaluation tools for the oil & gas project proposals
- identify and quantify key uncertainties during field development and full life cycle economics
- calculate the economic and financial viability of expenditure proposals projects under risk conditions
- develop a structured approach to measuring, managing and combating commercial risk
- assess the ranking of alternative projects
- prepare convincing project proposals in a way that will win management, partner and government approval
- improve project and business outcomes
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