PGE 491: Petroleum and Natural Gas Economics

The Importance of Oil and Gas Resources in the Middle East, The Arabian Geological Plate, History of Oil Discovery in Saudi Arabia, Crude Oil Classification, Major Saudi Arabia Oil and Gas Fields, Saudi Arabia Oil and Gas Fields List, Saudi Arabia Geological Column, Saudi Arabia-Kuwait Neutral (Divided) Zone, Oil and Gas Ownership Types, National and International Oil Companies and OPEC, OPEC+, OAPEC and IEA, Swing Produces, Inflation, Depletion, and Energy Sources, The Difference between Oil Shale, Shale Oil and Shale Gas, Consequences of Unconventional Hydrocarbon Production, Definition of Oil and Gas Reserves, Depletion and Depreciation, Oil Pricing History, Oil Pricing Criterion, OPEC Reference Basket (ORB) Price, Market Clearing Price, Oil Equilibrium (Bottom) Price, Law, Engineering Economics, Investment, and Economic Limit, Capital Expenditure (CAPEX) and Operating Expenditure (OPEX), Salvage Value, Nominal and Effective Interest Rates, Complex (Compounded) Interest, 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), Minimum Rate of Return (ROR), Payout (Payback) Period (POT), Profit-to-Investment Ratio (Profitability Index, P/I), Incremental (Marginal) Analysis (IA), Field Examples based on Oil Production Data, Risk and Uncertainty in the Oil and Natural Gas Industry, Oil Price Elasticity, Peak Oil Theory, SPE Ethical and Professional Responsibility, Guiding Principles for Environmentally Responsible Petroleum Operations.

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Course Materials