PGE 491: Petroleum and Natural Gas Economics

COURSE SYLLABUS
Brief on Islamic Economy Principles, The Importance of Oil and Gas Resources in the Middle East, OPEC, USA, Rest of the World Oil Reserves, Production and Consumption, History of Oil Discovery in Saudi Arabia, Saudi Arabia Oil Ministers, Major Saudi Arabia Oil and Gas Fields, Giant Oil and Gas Fields, Saudi Arabia Oil and Gas Fields List, Saudi Arabia Geological Column, Crude Oil Classification, Carbon Emission, Carbon Capture, Utilization And Storage (CCUS), Saudi Arabia-Kuwait Neutral (Divided) Zone, Legal Boundaries of Waters and Airspace, Pollution Caused by Petroleum Operations Oil and Gas Ownership Types, National and International Oil Companies and OPEC, OPEC, OPEC+, OAPEC and IEA, Swing Produces, Inflation, Depletion, and Energy Sources, Unconventional Oil and Gas Resources, The Difference between Oil Shale, Shale Oil and Shale Gas?, Definition of Oil and Gas Reserves, Depletion and Depreciation, Oil Pricing History, Oil Pricing Criterion, OPEC Reference Basket (ORB) Price, Oil Paper and Wet Barrels, Law of Supply and Demand, Law of Oil Equilibrium (Bottom) Price, Engineering Economy, Key Factors For Successful Project, Investment and Economic Limit, Capital Expenditure (CAPEX) and Operating Expenditure (OPEX), Nominal and Effective Interest Rates, Complex Interest Rate, Petroleum Field Exploitation Cost Analysis, Horizontal Time-Fund Flow Diagram, Formulas for Continuous and Lump Sum Flow of Fund, Mutually Exclusives Selection Methods and Decision Strategy, Decision Screening Yardsticks for Economical Projects, Net Present Value (NPV), Minimum Rate of Return (ROR), Payout (Payback) Period (POT), Profit-to-Investment Ratio (Profitability Index, P/I), Summary of Economical Screening Yardsticks, Field Examples Based On Oil Production Data, Oil and Gas Industry Sectors, Potential Environmental Impacts of Oil and Gas Activities, Risk and Uncertainty in the Oil and Natural Gas Industry, Oil Price Elasticity, Peak Oil Theory, SPE Ethics and Professional Responsibility.

Course Materials