Introduction
The Advanced Oil & Gas Project Economics, Risk & Decision Analysis training program is designed to equip professionals in the energy sector with the essential knowledge and skills to navigate the complexities of decision-making in oil and gas projects. In an industry characterized by significant capital investments, high levels of risk, and dynamic market conditions, mastering advanced economics, risk assessment, and decision analysis is critical for success. This program provides participants with a deep understanding of these key concepts and their practical application in the oil and gas industry.
Objectives
By the end of this 5-day training program, participants will:
- Understand Oil & Gas Industry Dynamics: Gain insights into the unique characteristics and dynamics of the oil and gas industry, including its project lifecycle and critical decision points.
- Master Financial Analysis: Learn to apply financial analysis techniques such as Discounted Cash Flow (DCF), Net Present Value (NPV), and Internal Rate of Return (IRR) to evaluate the economic viability of oil and gas projects.
- Navigate Uncertainty and Risk: Develop proficiency in identifying, quantifying, and mitigating risks in oil and gas projects through Monte Carlo simulation, decision trees, and sensitivity analysis.
- Optimize Decision-Making: Explore advanced decision analysis techniques, including Multi-Criteria Decision Analysis (MCDA) and Value of Information (VOI) analysis, to make informed and robust decisions.
- Evaluate Financial Aspects: Understand the financial intricacies of oil and gas projects, including capital structure, financing options, taxation, regulatory considerations, and risk-adjusted metrics.
- Apply Knowledge to Real-world Scenarios: Analyze real-world case studies, learn from industry experts, and engage in discussions to apply acquired knowledge to practical situations.
Target Audience
This training program is ideal for professionals working within or aspiring to work within the oil and gas industry, including:
- Project Managers
- Financial Analysts
- Investment Analysts
- Risk Analysts
- Engineers
- Geologists
- Environmental Specialists
- Government and Regulatory Personnel
- Energy Consultants
- Anyone involved in oil and gas project planning, evaluation, or decision-making
Program Outline
Day 1: Introduction to Project Economics and Decision Analysis in Oil & Gas
- Overview of the Oil & Gas Industry
- Project Lifecycle and Decision Points
- Time Value of Money (TVM) and Discounted Cash Flow (DCF) Analysis
- Net Present Value (NPV) and Internal Rate of Return (IRR)
- Sensitivity Analysis and Scenario Analysis
- Real Options Analysis
Day 2: Risk Analysis in Oil & Gas Projects
- Understanding Risk and Uncertainty
- Risk Management Framework
- Monte Carlo Simulation
- Risk Mitigation Strategies
- Decision Trees and Decision Analysis
- Incorporating Uncertainty in Decision Analysis
Day 3: Advanced Decision Analysis Techniques
- Multi-Criteria Decision Analysis (MCDA)
- Value of Information (VOI) Analysis
- Decision Support Tools and Software
- Economic Modeling in Excel
- Advanced Financial Metrics (PI, DPI, TVPI)
- Risk-adjusted Metrics (RAROC, CFaR)
Day 4: Financial Aspects of Oil & Gas Projects
- Capital Structure and Financing Options
- Taxation and Fiscal Regimes in Oil & Gas
- Regulatory and Environmental Considerations
- Case Studies in Project Finance
- Industry Best Practices
Day 5: Practical Applications and Case Studies
- Presentations of Real-world Case Studies
- Industry Expert Panel Discussion
- Q&A Session
About Dubai
Dubai, located on the Persian Gulf, is one of the seven United Arab Emirates and one of the most popular tourist destinations in the world. The discovery of oil in the region has made Dubai extremely wealthy, allowing it to build the glittering skyscrapers that it is now famous for. That wealth is strongly in evidence in Dubai and visitors will see luxurious buildings and supercars aplenty. Perfect beaches and endless shopping opportunities are to key to Dubai's attractions. Flights to Dubai open up the city's cultural attractions to tourists, with beautiful mosques, museums and art galleries scattered throughout this ultra-modern metropolis.
Things to do and places to visit in Dubai
Dubai's wealth has made it famous for building ever taller buildings and creating artificial islands off its shores. The city's hotels are luxurious and shoppers will love its extensive shopping malls which showcase all the world's top brands. Dubai's attractions don't end there. Dubai also caters to adventure lovers, who can jump in a 4x4 or on a board to speed over dunes outside the city. Local culture mustn't be forgotten either, and visitors have wonderful mosques to visit and old districts to explore. All that combined means that a flight to Dubai is sure to lead to an unforgettable holiday.
When visiting Dubai, be sure to:
- Go to the observation deck of the Burj Khalifa, the tallest building in the world.
- Admire the intricately beautiful Grand Mosque, which has the tallest minaret in the city.
- Understand the local history and culture with a visit to the Dubai Museum.
- Discover objects from the 6th century at Jumeirah Archaeological Site.
- Go skiing – That's not a joke, the Mall of the Emirates houses a snowdome.
- Go shopping at the Mall of the Emirates or the Dubai Mall.
- Explore the desert surrounding the city – either by 4x4 or atop a camel.
- Eat fantastic seafood at Dubai Marina.
- Cool off at the Wild Wadi Waterpark.
- Marvel at gorgeous Arabic calligraphy at Jumeirah Mosque, the biggest in the city.
- Take a yacht tour around the artificial islands of Palm Jumeirah.
- Haggle for souvenirs in one of the city's souks.
- Wander around the traditional building in Bastakiya District.