PGE 491: Petroleum and Natural Gas Economics and Legislations

INTRODUCTION; Table of Contents; Course Learning Outcomes and Syllabus; Islamic Economics.  CHAPTER ONE: HISTORY OF OIL IN SAUDI ARABIA;  Letters between King Abdulaziz AlSaud and USA President Harry Truman; The Importance of the Middle East oil and Gas Resources; The Arabian Geological Plate; History of Oil in Saudi Arabia; Crude Oil Classification; Statistics on the World Oil and Gas Reserves and Production; Saudi Arabia Oil and Gas Fields List; Saudi Arabian Geological Column.  CHAPTER TWO: THE INTERNATIONAL OIL INDUSTRY; Oil and Gas Ownership Types; National and International Oil Companies; OPEC, OAPEC, and IEA; Swing Produces, Inflation, Depletion, and Energy Sources; Unconventional Oil and Gas Resources; SPE Definition of Oil and Gas Reserves; Depletion and Depreciation.  CHAPTER THREE: OIL PRICES HISTORY AND PRICING CRITERION; Oil Pricing History; Oil Pricing Criterion; OPEC Reference Basket (ORB) Price; Market Clearing Price.  CHAPTER FOUR: BASICS OF ENGINEERING ECONOMY; Engineering Economics, Investment, and Economic Limit; Capital Expenditure (CAPEX) and Operating Expenditure (OPEX); Nominal and Effective Interest Rates; Combination Interest Rate; Horizontal Time Line Diagram; Formulas for Continuous and Lump Sum Flow of Fund; Mutually Exclusives Selections; Decision Screening Yardsticks for Economical Projects; Net Present Value (NPV); Rate of Return (ROR); Payout (Payback) Period (POT); Profit-to-Investment Ratio (Profitability Index, P/I); Incremental Analysis.  CHAPTER FIVE: FIELD EXAMPLES; Field Examples based on Oil Field Production Data.

Course Materials