|Prerequisites for Module|
None in addition to course entry requirements or equivalent.
Aims of Module
To provide the students with a working practical knowledge of the role oil and gas economics plays in the decision making within the oil and gas exploration and production lifecycle.
Learning Outcomes for Module
On completion of this module, students are expected to be able to:
Indicative Module Content
The module is delivered in two parts. The first part considers the fundamental concepts of economics such as market structure of oil and gas, oil and gas markets, managerial economics and productivity, labour market economics and costs and revenues. THis part will also consider the macro economic environment of energy including economic growth, government fiscal and monetary policy and the general state of the world economy
The second part of the module will consider exploration and appraisal economics (including probability and expectation curves), field development options (including modelling cash flows, profitability and risk indicators, net present value, investment appraisal, environmental issues), incremental analysis and economics (including depletion models), late field economics and decommissioning.
Indicative Student Workload
|Mode of Delivery|
Taught Mode (T)
The module is delivered in Taught Mode by lectures, workshops, interactive group work, tutorials and directed self−study.
Distance Learning Mode (DL)
The module is delivered in Distance Learning mode by self
directed study learning from paper−based or web−based
learning materials, supported by on−line support and group
Module is assessed by porfolio coursework including contribution to module activities.