Petroleum Economics - PEN 450

Economics of the upstream sector in all its aspects: reserves, players (oil companies, service companies), investments, costs and bench-marking, certainty economics applied to petroleum projects cash flow including taxation, decline curve analysis and oil and gas reserve estimate, application of uncertainty analysis and the use of statistical and probabilistic properties of reservoir description, standard methods of investment analysis when risk has to be coped with. Prerequisite: CEN 392.