PGE 543: Advanced Petroleum Economics (M.Sc. Course)

COURSE SYLLABUS: Projects Evaluation and screening Using Economics Decision Yardsticks Including: Profit to Investment Ratio (P/I), Discounted and Undiscounted Payout Time (POT), Net Present Value (NPV), and Rate of Return (ROR).  Classification of Energy Sources.  Definition (Types) of Oil and Gas Reserves.  Unconventional Oil and Gas Resources.  The World’s Giant Oil and Gas Fields.  Uncertainty and Risk Analysis in Petroleum Exploration and Production.  Oil Pricing Criteria and Factors Affecting Oil Prices.  The Role of Strategic Oil Reserves.  Oil and Gas Production Business Operations.  Hubbert Model for Oil Peak Forecasting, Oil and Gas Future Demand Forecasting.