Petroleum Economics Concept Based on Engineering Economics

Pendahuluan

This course is to summarize the state of the art of Petroleum Economics Concept Based on Engineering Economics. It included the example problems to illustrate the use of various theoretical solutions. In this course we will discuss the time value of money concepts, different types of interest arrangement, converting cash flows (cash inflows or outflows) from one period to another, methods used to select the best economic service producing investments, methods used to select the best economic revenue producing investments (mutually exclusive and non-mutually exclusive), the development of after-income tax cash flows, expected value concept and other useful statistical techniques.

All of concepts in this course are presented in a hands-on manner. You may be already reasonably familiar with some of the concepts; in which case, you may skip those and proceed to the ones that you are not familiar with. You will notice that most of the methods presented if properly used, will give the same results. The reason for including so many methods is to complete the presentation. In some cases it may be advantageous to use on method over the other. Therefore, it is necessary that you be familiar with all of the methods presented.

This course compiled as aid to engineers and production people in the Petroleum Industry who have the responsibility of planning and decision making in oil or gas field development. It includes fundamental principles of engineering economics used in petroleum industry. It also included the tables, data and general information which it will be value to everyone who responsible to make decision making in petroleum economics domain.

Much material of this course has been published previously and is reassembled in this course. However, there is also a considerable amount of new material included that will assist the participants. In this course, it has also included example problems to illustrate the use of various theoretical solutions. Wherever possible, it has not only discussed practical difficulties that one may encounter while using the theoretical solutions, but it has also listed some of the method that one can used to obtain the desired information.

This course is mainly directed to the practicing professionals who make engineering calculations and decision on oil and gas field development. For managers, the course helps to review the present state of the art of petroleum engineering economics used for decision-making according to field economics parameters.

Outline

Reserve and Hydrocarbon Reserve

Exploitation

Basic Concept
History of Reserve Definition
Reserve Classification
Reserve Calculation
Proved Reserves Guidelines Improved Recovery

Time Value of Money Concepts

Hydraulic Fundamentals
Time Value of Money
Simple and Compound Interest
Present Value of Future Sum
Present Value of Annual Sums
Annual Equivalent of Future Sums
Annual Equivalent of Present Sums
Present Value of Deferred Annuity
Arithmetic gradient Series
Capitalized Cost Calculations
Continuous Compounding and Discounting
Determining Interest Rates
NPV, NAV, and NFV Computations
Rate of Return (ROR) Calculations

Comparison of Service Producing Investment

PV, AV, and FV of cost analysis
Rate of return Analysis
Service Life Breakeven Analysis
Unequal Life Service Producing Alternatives

Analysis of Income Producing Investments

Single Independent Investment Analysis
Mutually Exclusive Investment Analysis
Non Mutually Exclusive Investment Analysis

Depreciation

Straight Line Depreciation
Declining Balance Depreciation
Sum of Years ‘Digits Depreciation
Accelerated Cost Recovery System (ACRS)
Modified Accelerated Cost recovery System (MACRS)

After-Tax Cash Flow Analysis

Amortization and Depletion
Investment Tax Credits (ITS)
Intangible Drilling Costs (IDC)
Minimum Tax and Tax Preference Items
After-Tax Cash Flow

Expected Value Concepts

Definition of Probability
Expected Net Present Value (ENPV)
Expected Present Value Ratio (EPVR)
Expected Net Present Value Profile
Decision Tree Analysis

Equations and Mathematical Techniques

Regression Analysis
Mean, Variance, and Standard Deviation
Normal Probability Distribution
Log-Normal Probability Distribution
Solving Problems Requiring Trial-and-Error Calculation

How to Chose the Alternatives

Investment Analysis
The Role Depreciation
Taxes
Project Financing
The Effect of Inflation
Decision Making
Monte Carlo Simulation

Trainer

A. Chandra / Ibnu Dwinarto

Para Professional dan Praktisi memiliki pengalaman lebih dari 15 tahun dibidangnya masing-masing. Dengan berbagai jabatan yang pernah dipegang antara lain : Operational Director, Training & People Development Manager, Training Manager, Head of waste water treatment facility, Finance Director, Financial Planning Manager, Sales Manager, HR Direktur, dll. dan pernah bekerja di perusahaan multinasional maupun organisasi internasional seperti Astra International, The National Conservation – US Based NGO, dll) serta lulusan dari universitas terkemuka dari dalam dan luar negeri

Tempat

Hotel atau Business Center di Jakarta

Investasi :

Rp. 6.500.000,-
(termasuk materi hand-out dan CD modul, 2x coffee break, makan siang dan sertifikat)

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