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  6. EP4531: FIELD DEVELOPMENT AND PETROLEUM ECONOMICS

EP4531: FIELD DEVELOPMENT AND PETROLEUM ECONOMICS (2017-2018)

Last modified: 25 May 2018 11:16


Course Overview

This course provides a detailed overview of oil and gas field development from discovery to abandonment with particular focus on the decisions made prior to first production. The roles of uncertainties, economics considerations, safety and environmental impact on the design choices are explored.

Course Details

Study Type Undergraduate Level 4
Term Second Term Credit Points 15 credits (7.5 ECTS credits)
Campus None. Sustained Study No
Co-ordinators
  • Dr Lateef Akanji

Qualification Prerequisites

  • Either Programme Level 3 or Programme Level 4

What courses & programmes must have been taken before this course?

  • Either Master of Engineering in Petroleum Engineering (Studied) or Bachelor of Engineering in Petroleum Engineering (Studied)
  • Either EG3596 Reservoir Engineering I - Fundamentals (Passed) or EP3596 Reservoir Engineering I - Fundamentals (Passed)
  • Either EG3595 Drilling and Well Engineering (Passed) or EP3595 Drilling and Well Engineering (Passed)
  • EG3599 Project and Safety Management (Studied)
  • Any Undergraduate Programme (Studied)

What other courses must be taken with this course?

None.

What courses cannot be taken with this course?

  • EG4531 Field Development and Petroleum Economics (Studied)

Are there a limited number of places available?

No

Course Description

This course provides the practical context for many of the other technical petroleum engineering courses already studied and mirrors the processes followed by oil and gas companies in selecting which opportunities to invest in and how to mature them. The methods used to compare different investment options and characterise uncertainty will be covered. By considering the input data required to perform such investment appraisal, students will be introduced to the challenges of getting hydrocarbons economically from the subsurface rock matrix to saleable products at the surface.  The course takes a multi-disciplinary approach to show the integration of subsurface characteristics, well and completions design, surface facilities, petroleum economics and environmental impact in the preparation of a viable field development plan

Contact Teaching Time

Information on contact teaching time is available from the course guide.

Teaching Breakdown

More Information about Week Numbers


Details, including assessments, may be subject to change until 30 August 2024 for 1st term courses and 20 December 2024 for 2nd term courses.

Summative Assessments

1st Attempt: 1 three-hour written examination paper (90%), continuous assessment (10%).

The continuous assessment will comprise of assignments on petroleum economics.

Resit: 1 three-hour written examination paper (90%) and the continuous assessment mark from the first attempt (10%).

Formative Assessment

There are no assessments for this course.

Feedback

a) Assessment grade and feedback comments will be provided on the coursework report within two weeks of submitting the report.

b) Students can receive feedback on their progress with the Course on request at the weekly tutorial/feedback sessions.

Course Learning Outcomes

None.
 

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