Course info

Course description It is intended to give a broad understanding of the economics evaluation of petroleum projects. This course focuses on the ideas and principles, which may become incorporated into corporate procedures. Petroleum investment is very long-term and subject to considerable risks, and some of these issues are identified and reviewed in the course. The course also focuses on policy development and analysis, and various legal aspects in the management of petroleum resources Environmental laws and international treatises, conventions and protocols in the management of shared petroleum resources Learning outcomes At the end of the course, student should be able: • To analyse risks associated with petroleum investments • To identify the economic benefits of a undertaking certain petroleum projects • To be able to model decisions for oil and gas projects. • To evaluate proven process and technology for decision analysis used by companies worldwide. Course Content The course will cover estimation of initial reservoir contents, forecast production versus time, primary, secondary and tertiary methods, evaluation of costs and risks versus expected rewards, and various national and international contracting techniques. In addition the course will describe types of unconventional resources and the similarities between tight gas, coal bed methane and shale gas. The lifecycle and key parameters of unconventional plays will be discussed in order for participants to understand how to model the economic viability of potential reservoir development. Modeling process will incorporate the benefits of the latest industry knowledge on unconventional resource development including sweet spot identification, well planning, drilling, and completions in order to maximize potential for profitability. The course will provide, an overview of worldwide unconventional activity, will discuss on the best practices for development and key risks and uncertainties. Proven process for modeling the economics of unconventional resource development including decision mapping and decision trees will be covered. The course will also introduce to students critical evaluation of policies and procedures in petroleum development and use; identification of problems in petroleum development, the political-economic decision making processes and analytical tools which can contribute to economic decisions. Conflict Resolution in Public Management. Delivery: 45 Lectures hours Assessment: Coursework 40% and Final Examination 60% Textbooks / References 1. Selley, R.C. (1998). Elements of Petroleum Geology, 2nd ed. Academic Press 2. Hunt, J.M. (1979). Petroleum Geochemistry and geology, Freeman San Francisco. 3. Bateman, A.M. and Jensen, L.M. (1981). Economic Mineral Deposits. Revised 3rd edition. John Wiley and Sons, New York. 4. Tanzania Gas Policy, 2013. 5. Ashton, M. (1992). Advances in Reservoir Geology, Spec. Publ. No 69 Geol Soc. London, London.