Last modified: 28 Jun 2018 10:27
This course covers some basic economics and then focuses on valuation of assets, how to deal with risk in making investment decisions, and the various systems by which petroleum revenue is taxed.
| Study Type | Postgraduate | Level | 5 |
|---|---|---|---|
| Term | Second Term | Credit Points | 15 credits (7.5 ECTS credits) |
| Campus | None. | Sustained Study | No |
| Co-ordinators |
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Introduction to petroleum economics; economic rents in the petroleum industry; economic and risk indicators; objectives of investors and governments; fiscal devices and their effects applied to petroleum exploitation; types of fiscal systems; modelling of oil and gas fiscal systems; portfolio optimisation; field economics; prospect ending market values; production-sharing contracts.
By the end of this course students should appreciate the role of economics in deciding how companies make decisions about which projects to invest in. They will have gained practical knowledge in modelling fiscal systems and how to use specialist software for risk analysis.
Information on contact teaching time is available from the course guide.
There are some in-course exercises for formative feedback. The summative element consists of petroleum taxation exercises, totalling 40% of the assessment, and an examination (60%).
There are no assessments for this course.
By the end of this course students should appreciate the role of economics in deciding how companies make decisions about which projects to invest in. They will have gained practical knowledge in modelling fiscal systems and how to use specialist software for risk analysis.
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