Samuel Asare Ankomah Ghana
Energy Economics and Law, LLM or MSc
Introduction
This unique Masters programme combines the core disciplines of Economics and Law to equip you with the essential skills required to pursue a successful career such as in the global oil and gas industry, legal, financial or in related governmental organisations.
Study Information
Study Options
- Learning Mode
- On Campus Learning
- Degree Qualification
- LLM or MSc
- Duration
- 12 months or 24 months
- Study Mode
- Full Time or Part Time
- Start Month
- January or September
- Location of Study
- Aberdeen
The global oil and gas sector operates in a complex environment characterised by various influential factors such as government-controlled hydrocarbons, financial markets, the global crude oil market, economic uncertainty, licensing, taxation and contracts. These factors have a significant influence on both investment decision-making and government policy-making, so a comprehensive knowledge of related economics and law is essential. On this programme, you will gain the real-world knowledge you need to enhance your career opportunities in legal and financial oil and gas contexts.
The University of Aberdeen is a global leader in teaching and research in the field of energy and law and this programme builds on our considerable strengths in these areas. We were ranked 13th in the UK for Economics in the Guardian University Guide 2025. Our University is home to two relevant and internationally recognised research centres: the Aberdeen Centre for Research in Energy Economics and Finance and the Aberdeen University Centre for Energy Law. Studying here, you will benefit from interacting with leading researchers in the field of energy economics and law – including one of the world’s best recognised energy experts, Professor Alex Kemp OBE – and with a broad network of national and multi-national employers through our visiting speaker programme.
Available Programmes of Study
Taught courses are the same on both the MSc and LLM programmes and are delivered with an interdisciplinary approach. Prospective students with a background in finance or business may feel that the MSc is a better fit for their experience as they will undertake a 60-credit business dissertation in the Business School on a business (i.e. economics, finance, etc.) related topic. Applicants with some professional legal experience or previous study in law may wish to choose the LLM degree option which concludes with a 60-credit dissertation on a legal topic under the Law School.
Please note: Students staring their LLM programme in January write their Dissertation project during the Summer semester.
- LLM
-
Energy Economics and Law
Qualification Duration Learning Mode Study Mode Start Month LocationLLM 12 months or 24 months On Campus Learning Full Time or Part Time September Aberdeen MoreLLM 12 months or 24 months On Campus Learning Full Time or Part Time January Aberdeen MoreProgramme Fees
Fee information Fee category Cost EU / International students £27,000 Tuition Fees for 2024/25 Academic Year UK £12,200 Tuition Fees for 2024/25 Academic Year Semester 1
Please note that all January Start Students must produce their Dissertation Project during the Summer Semester, preparation for which begins in January.
Compulsory Courses
- Critical Legal Thinking and Scholarship (LS551T)
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This course provides students from diverse legal and educational backgrounds with a common understanding of the core research, analytical, and writing skills which will be required for LLM-Taught courses. The course is delivered as a series of five interactive lectures with two individual assessments designed to encourage critical thinking and provide opportunities for early feedback. It also incorporates a library workshop to provide students with hands-on experience with the resources available for course and dissertation work.
- Getting Started at the University of Aberdeen (PD5506)
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This course, which is prescribed for all taught postgraduate students, is studied entirely online, takes approximately 5-6 hours to complete and can be taken in one sitting, or spread across a number of weeks.
Topics include orientation overview, equality and diversity, health, safety and cyber security and how to make the most of your time at university in relation to careers and employability.
Successful completion of this course will be recorded on your Enhanced Transcript as ‘Achieved’.
Optional Courses
- Contracting in Hydrocarbon Operations (LS551K)
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30 Credit Points
A good knowledge and understanding of the commercial purpose and key features of the principal contracts used in the oil and gas industry is essential for an oil and gas lawyer. This course will examine the contracts entered into between involved in the exploration for and production of oil and gas. These include and the investment contracts entered into between the oil companies themselves in the form of Joint Operating Agreements, and those between oil and gas companies operators and the contractors making up the service and supply chain. The course will be taught by means of a mix of lectures, seminars and interactive workshops.
- Real Options and Decision Making (BU5556)
-
15 Credit Points
The goal of this course is to deepen and broaden students' understanding and develop their analytical skills regarding investment decisions under uncertainty and the value of flexibility and information. The course will introduce relevant concepts from economics and finance such as decision trees, the Black-Scholes equation and the binomial option pricing model and discuss how these concepts may be applied to assess investments with applications related to the energy industry such as the development of an oil lease.
- Issues in Energy & Petroleum Economics (BU5557)
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15 Credit Points
Much of this course is devoted to petroleum policies. Concepts of economic rents from petroleum exploitation and the various mechanisms by which the rents can be collected by the state are discussed, including production sharing and service contracts. Licensing policies, including relinquishment terms, pricing, procurement, domestic market obligations, the role of state oil companies, and depletion policy are examined. The Oil Fund concept and the issue of oil and gas security of supply are discussed. State and private ownership and control of gas acquisition, transmission and distribution to customers are examined. The economics of CO2 capture and storage is discussed.
Semester 2
Please note that all January Start Students must produce their Dissertation Project during the Summer Semester, preparation for which begins in January.
Compulsory Courses
- Master of Laws Dissertation (LS5904)
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60 Credit Points
Between May and mid-August students prepare a 10,000 word dissertation on a topic of their choice related to their specialist LLM programme. Students are instructed through the delivery of a preparatory lecture, two supervisory meetings and a two hour dissertation planning workshop in a small group setting. Students are expected to spend considerable time on independent research throughout the course of the dissertation module, including; preparation of dissertation plan, amendment of plan in accordance with supervisory comments, preparation for the dissertation workshop, and, of course, in the final 10,000 word dissertation itself.
Semester 3
Optional Courses
- State Control of Hydrocarbons (LS501E)
-
30 Credit Points
With only limited exceptions hydrocarbons lie in the ownership or control of states but are frequently explored for and produced by commercial actors. This course considers the means by which the state controls exploitation of its oil and gas reserves. Following a number of introductory online lectures, students will participate in interactive seminars considering topics such as: from energy security to energy trilemma; national oil companies; licensing and production sharing agreements; resource curse and transparency; health, safety and environmental regulation; and decommissioning. This course is available to students registering for the LLM Oil and Gas Law programmes (Dissertation or Professional Skills).
- Energy and Petroleum Economics (BU5073)
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15 Credit Points
This course discusses the world petroleum market in the context of overall energy markets. The main features of the evolving petroleum market are analysed including examination of the Hotelling model and Hubbert curve. Oil price determination is discussed with detailed consideration of the special characteristics of the demand and supply curves in the industry. The role of OPEC in the market is examined, including discussion of the various models of OPEC behaviour and the determinants of its market power. The economics of climate change and the place of renewable energy in the wider energy market is discussed.
- Corporate Finance and Accounting for Energy (BU5074)
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15 Credit Points
This course ensures students understand why companies behave the way they do with respect to financing choices and how this interacts with financial markets, with particular reference to the petroleum and energy industries. The course covers Investment Appraisal Techniques Employed in the Petroleum Industry, Risk Analysis, Portfolio Theory and the Capital Asset Pricing Model (CAPM).
- MSc
-
Energy Economics and Law
Qualification Duration Learning Mode Study Mode Start Month LocationMSc 12 months On Campus Learning Full Time September Aberdeen MoreMSc 12 months On Campus Learning Full Time January Aberdeen MoreMSc 24 months On Campus Learning Part Time September Aberdeen MoreMSc 24 months On Campus Learning Part Time January Aberdeen More
We will endeavour to make all course options available. However, these may be subject to change - see our Student Terms and Conditions page.
Fee Information
Additional Fee Information
- Fees for individual programmes can be viewed in the Programmes section above.
- In exceptional circumstances there may be additional fees associated with specialist courses, for example field trips. Any additional fees for a course can be found in our Catalogue of Courses.
- For more information about tuition fees for this programme, including payment plans and our refund policy, please visit our Tuition Fees page.
Funding Opportunities
The SFC Postgraduate tuition fee scholarship may be available for those classified as Home/EU fee status students for this programme. Visit the scholarship page for more information.
The University of Aberdeen provides an Alumni Discount Scheme:
The University of Aberdeen is very pleased to offer a 20% discount on postgraduate tuition fees for all alumni who have graduated with a degree from the University of Aberdeen. More Information can be found here.
Scholarships
Self-funded international students enrolling on postgraduate taught (PGT) programmes will receive one of our Aberdeen Global Scholarships, ranging from £3,000 to £8,000, depending on your domicile country. Learn more about the Aberdeen Global Scholarships here.
To see our full range of scholarships, visit our Funding Database.
How You'll Study
You will have the opportunity to explore a range of themes to sharpen your critical analysis of key current global challenges and issues. These include Licensing and Upstream Taxation; Investment Appraisal Techniques and Risk Analysis; Health, Safety and Environmental Regulation; Crude Oil Market; Principles of Accounting; and Oil and Gas Contracts. You will take part in a broad range of stimulating lectures, seminars and tutorials with both lecturers and visiting industry practitioners.
Learning Methods
- Field Trips
- Group Projects
- Individual Projects
- Lectures
- Research
- Seminars
- Tutorials
Assessment Methods
Assessment is by course work, written examination or through a combination of those, as prescribed for each module.
Why Study Energy Economics and Law?
This intellectually challenging programme will equip you with the intellectual, critical and practical skills fundamental to a successful career in areas such as oil and gas. You will engage directly with professional practice, multi-nationals and government agencies. You will:
• Acquire the global perspectives essential to professional success
• Develop critical insights into current and emerging approaches
• Gain a well-rounded skillset with the tools to succeed in the energy sector
• Obtain insights into commercially oriented analysis
• Strengthen your capacity for social, geographical and cultural mobility
What Our Students Say
Christos Mavrogiannis Greece
Entry Requirements
The minimum entry requirement for the MSc Energy, Economics and Law is a degree at 2:2 (upper second class) UK Honours level (or a degree from a non-UK institution which is judged by the University to be of equivalent worth). This programme is open to graduates from any discipline.
The LLM Energy, Economics and Law requires a Law Undergraduate degree.
Qualifications
The information below is provided as a guide only and does not guarantee entry to the University of Aberdeen.
For the LLM normally, a 2.1 honours degree (or equivalent) in Law will be required to be accepted onto this programme.
For the MSC normally, a 2.2 honours degree (or equivalent) in any discipline will be required to be accepted onto this programme.
Please enter your country to view country-specific entry requirements.
English Language Requirements
To study for a Postgraduate Taught degree at the University of Aberdeen it is essential that you can speak, understand, read, and write English fluently. The minimum requirements for this degree are as follows:
IELTS Academic:
OVERALL - 6.5 with: Listening - 5.5; Reading - 6.0; Speaking - 5.5; Writing - 6.0
TOEFL iBT:
OVERALL - 90 with: Listening - 17; Reading - 21; Speaking - 20; Writing - 21
PTE Academic:
OVERALL - 62 with: Listening - 59; Reading - 59; Speaking - 59; Writing - 59
Cambridge English B2 First, C1 Advanced or C2 Proficiency:
OVERALL - 176 with: Listening - 162; Reading - 169; Speaking - 162; Writing - 169
Read more about specific English Language requirements here.
Document Requirements
You will be required to supply the following documentation with your application as proof you meet the entry requirements of this degree programme. If you have not yet completed your current programme of study, then you can still apply and you can provide your Degree Certificate at a later date.
- Degree Transcript
- a full transcript showing all the subjects you studied and the marks you have achieved in your degree(s) (original & official English translation)
- Personal Statement
- a detailed personal statement explaining your motivation for this particular programme
Aberdeen Global Scholarship
Eligible self-funded postgraduate taught (PGT) students will receive the Aberdeen Global Scholarship. Explore our Global Scholarships, including eligibility details, on our dedicated page.
Aberdeen Global ScholarshipsCareers
Career opportunities range from positions within oil and gas companies, international law firms or government ministries. Past graduates have gone on to be Commercial Advisers, Energy Consultants, Investment Analysts, Market Analysts, and Oil and Gas Associates. Others have gone on to complete a PhD, or to pursue careers in politics, business or international finance.
Career Opportunities
- Commercial Adviser
- Energy and Business Consultant
- Environmental Consultant
- Investment Analyst
- Market Analyst
- Oil and Gas Associates
- Project Manager
Industry Links
Our LLM Advisory Board includes individuals from industry, government, research centres, international organisations and leading research centres in Europe. With direct input from these key players and other guest lecturers from international academic and policy-making institutions, our programme stays relevant in a rapidly changing world. Many courses are taught by practitioners and leading industry experts so you will benefit from practical real life insights into the industry.
Accreditation
The Business School is EQUIS accredited, placing it among a select group of globally recognised institutions. Out of over 15,000 business schools worldwide, only around 200 schools across 45 countries have attained this distinction.
This degree holds accreditation from
Our Experts
You will be taught by and have access to a number of experts, many of whom are internationally renowned within their respective fields. These will include members of AUCEL and Aberdeen Centre for Research in Energy Economics and Finance | Business School | The University of Aberdeen (abdn.ac.uk)
- Other Experts
- Professor John Paterson
- Professor Alexander George Kemp
- Programme Leader
- Dr Hossein Radmard
Information About Staff Changes
You will be taught by a range of experts including professors, lecturers, teaching fellows and postgraduate tutors. However, these may be subject to change - see our Student Terms and Conditions page.
World Class Facilities
Aberdeen Centre for Research in Energy Economics and Finance (ACREEF)
ACREEF provides a focus for the identification and implementation of high quality research in the areas of energy economics and finance.
Find out moreAberdeen University Centre for Energy Law
This research centre promotes the research activities of the many members of the School having an interest in Energy Law matters, as well as fostering an environment for collaborative work.
Find out moreGet in Touch
Contact Details
- Address
-
Business School
University of Aberdeen
MacRobert Building
King Street
Aberdeen
AB24 3FX