Applied Upstream Petroleum Fiscal Modeling & Economics

 

Intensive 3-day practical workshop available on demand as expert led classroom style or virtual. This workshop will help you to: Understand the basis of fiscal system classification and design, compare the impacts of alternative fiscal systems, including production sharing arrangements, and perform detailed audits of fiscal calculations. Learn how to match fiscal system structures to policy goals and how oil & gas companies make investments decisions.

Training courses

Banking & Finance

Course Background

Course delegates will:

  • Receive a lifetime licence to the course version of PEET® – the Excel-based world cash flow model - with full access to model formulas and audit calculations.
  • Review the various investment decision-making criteria, including IRR, PIR, NPV, EMV, and VRI.
  • Review the wide variety of fiscal and contract terms employed by governments around the world for oil and gas projects, understand the different fiscal system classifications, and identify trends in the evolution of fiscal terms.
  • Identify the characteristics of good fiscal system design and the criteria used to measure fiscal system performance.
  • Compare the pros and cons of different fiscal instruments and structures from both the investor and resource owner/government perspectives.
  • Understand how key project assumptions – production, prices and costs – are modelled in the oil and gas industry. This component includes a discussion of different cost definitions – technical costs, opportunity cost, sunk costs, and finding & development costs.
  • Work with PEET® to understand how different fiscal terms are included in the cash flow analysis and evaluate the impact of the terms of project economics, including the importance of investor tax position, as well as ring fencing, gold-plating, and incremental analysis.
  • Audit the detailed calculations required for complex fiscal instruments; e.g., corporate income tax, ROR profit sharing, and R-Factors.
  • Complete exercises to illustrate the advantages and disadvantages of various fiscal instruments.
  • Participate in the course case study designed to illustrate the performance of key fiscal system components, to determine a joint venture firm in the decision, and to compare alternative fiscal systems.
  • Draw on the trainer's 25+ years' experience as a petroleum economist and fiscal systems advisor.
This course is also available bespoke for larger groups and organizations.

Who is this course for?

Organizations that will benefit:

  • Oil & Gas Companies
  • Offshore Contractors
  • Government Ministries
  • Land Administrators
  • Tax Advisors
  • Negotiators
  • Policy Advisors
  • Energy Consultants
  • Lawyers

Who should attend:

  • Business Planners/Analysts/Executives/Managers
  • Policy Analysts
  • Commercial Analysts/Executive/Managers
  • Production Sharing Executives/Managers
  • Project Executives/Managers
  • Reservoir, Production & Petroleum Engineers
  • Planning and Development Analysts/Executives
  • Petroleum Economists
  • Geoscientists
  • General Managers
  • Finance and Account Executive/Managers

Public course dates for - Applied Upstream Petroleum Fiscal Modeling & Economics