|Basic Petroleum Economics - BEC3|
|Expanded Basic Petroleum Economics - BEC|
Discipline: Petroleum Business
Duration: 5 days
Instructor(s): Thijs Koeling, Tim Nieman, Kent Saugier, Richard Seba, Ronnie Tucker
|Could you answer the following three questions for your next project? What will it cost? What is it worth? Will it earn sufficient profit? Before undertaking any project, these questions should be answered. This course will provide the fundamentals necessary to enable you to do so. Budgeting and financing, accounting, and contractual arrangements, which also significantly impact the economic viability of a project, are covered. Participants practice cash flow techniques for economic evaluations and investigate frequently encountered situations. Participants are invited to submit their own economic problems (in advance), if appropriate. Each participant will receive Economics of Worldwide Petroleum Production, written specifically for PetroSkills courses.|
Managers, engineers, explorationists, field accounting supervisors and other personnel who need to develop or improve their skill and understanding of basic economic analysis and profitability of petroleum exploration and production. Due to similarity in content, PetroSkills recommends that participants take this course if they have no previous experience in this subject. For participants with more exposure to the subject, please review the Economics of Worldwide Petroleum Production description as its course content is more advanced than either Basic Petroleum Economics or Expanded Basic Petroleum Economics. Take one or the other, but not both courses.
You Will Learn:
DR. THIJS KOELING was Managing Director of Exploration and Production (EP) with many years of international experience gained on postings to several countries during a 25-year career with Shell. He has a broad knowledge of and experience with E&P and gas activities (research, project evaluation, economics, appraisal drilling, planning, natural-gas policy, contract negotiations, team leadership and general management). He has vast experience with leading people from different cultural backgrounds. He received a Master's degree for Theoretical Physics and Mathematics and a Doctorate degree in Theoretical Nuclear Physics from the University of Groningen.
MR. TIM NIEMAN is President of Decision Applications, Inc., a San Francisco area based decision analysis consulting firm. His firm performs decision and risk analysis for various organizations facing complex decision problems. His recent oil and gas consulting work includes risk analysis of pipeline routing; risk analysis for deepwater flow assurance; portfolio analysis for budgeting E&P R&D portfolios; and development of methods for assessing new basin entry opportunities. Other recent work includes development of remediation and reuse strategies for impaired properties, including former refineries and pipelines; numerous projects for the Yucca Mountain proposed nuclear waste repository; work on mountain top coal mining, unconventional oil and gas drilling, basin-wide water management and climate change issues; and cancer causation modeling for national health organizations. Mr. Nieman was formerly Senior Decision Analyst for Geomatrix Consultants, an Oakland based geological and environmental consulting firm. Prior to that, he was Director of Operations for Lumina Decision Systems, a decision analysis consulting and software firm. And prior to that, he spent 14 years with Amoco as a geophysicist, economist, and risk and portfolio analyst. He has a BS in geology and an MS in geophysics from Michigan State University, and an MBA from Rice University.
DR. KENT SAUGIER is a hands-on scientific, technology and business professional with twenty-five years' experience in upstream oil and gas, offshore technology, economics, economic modeling, international petroleum contracts, project management, software applications and technology including design, licensing and commercialization. He has domestic and international experience, excellent presentation skills and strong customer awareness. He received both a B.A. and a Ph.D. in Chemistry from the University of California.
DR. RICHARD D. SEBA is a petroleum engineering consultant in New Orleans, Louisiana. During 28 years of employment by Shell Oil Company in locations around the world, he held staff and management positions in research, reservoir engineering, and E&P and corporate economics. He has taught reservoir engineering and petroleum economics at Tulane University, Stanford University, University of New Orleans, for SPE and Shell. For the past 27 years, he has taught courses in petroleum economics, risk and uncertainty, and international E&P contracts for Shell and OGCI. He is an SPE Distinguished Author, has served SPE as chairman of the Distinguished Lecturers Committee, chairman of the Economics Award Committee, chairman of the Textbook Committee, and as a member of the Speakers Bureau. He is a member of the Society of Independent Professional Earth Scientists and is a registered professional engineer. He is the author of Economics of Worldwide Petroleum Production (3rd Edition, 2008). He received B.S. and M.P.E. degrees from Oklahoma University and a Ph.D. degree from the University of Texas, all in petroleum engineering.
MR. RONNIE TUCKER is a seasoned Irish business executive and financial and economic consultant with extensive practical experience. He has worked as a corporate business process reengineering Project Director in Helsinki, as a CFO/COO in New York, as a Director of Corporate Risk Management in Brussels and as a Financial Analyst in Silicon Valley. He has been a board member in Belgium, France, Ireland, Italy, Netherlands, UK and USA and has sat on a number of board audit, finance and governance sub-committees. Since 2012 he is a Divisional Director with Indecon Consultants. Since 1997 he has trained more than 4,000 non-financial managers in finance, economics and accounting for multinationals, governments and management institutes. He also taught management at the National University of Ireland and has spoken on governance for the Institute of Chartered Accountants in Ireland. Ronnie has a particular interest in the petroleum industry. In 2012 he taught MPs and civil servants from the Ministries of Finance and Natural Resources in Kurdistan, Iraq on production sharing contracts. He also recently trained government officials from Myanmar in energy project economics and finance. His long client list includes ExxonMobil and Schlumberger. He is a member of the petroleum business faculty at PetroSkills. He conducted cost-benefit appraisals of infrastructure projects for the Office of the Prime Minister of Malta. This also involved knowledge transfer to the Prime Minister's staff. Ronnie brings to bear his work in many industries including pharmaceuticals, logistics, retail, forest products, hospitality, and ports. He has worked extensively in the Middle East including in Algeria, Dubai, Egypt, Iraq, Morocco, Oman, Syria, and Tunisia. For petroleum industry clients he has also worked all over the world. Ronnie has a Bachelor's degree in business and economics from Trinity College, Dublin (1978) and an MBA from Stanford University (1985).
In-House Course Presentations
All courses are available for in-house presentation to individual organizations. In-house courses may be structured the same as the public versions or tailored to meet your requirements. Special courses on virtually any petroleum-related subject can be arranged specifically for in-house presentation. For further information, contact our In-House Training Coordinator at one of the numbers listed below.
Telephone 1- 832 426 1234
Facsimile 1- 832 426 1244
Public Course Presentations
How to contact PetroSkills:
1-800-821-5933 toll-free in North America or
Address P.O. Box 35448, Tulsa, Oklahoma 74153-0448, U.S.A