| Code |
Course Name |
Language |
Type |
| PET 412E |
Petroleum and Natural Gas Economics |
English |
Compulsory |
| Local Credits |
ECTS |
Theoretical |
Tutorial |
Laboratory |
| 3 |
6 |
3 |
0 |
0 |
| Course Prerequisites and Class Restriction |
| Prerequisites |
EKO 201E MIN DD
or EKO 201 MIN DD
|
| Class Restriction |
None |
| Course Description |
| Overview of petroleum and natural gas economics and basic concepts. Methods of profitability measures. Definition of risk and
uncertainty. Decision analysis, decision tree analysis, evaluation of expected monetary value. Basic principles of probability:
probability distributions, binomial, multinomial and hypergeometric distributions. Risk analysis methods in oil and gas exploration:
risking petroleum exploration, judging probability of discovery, resource distribution, multiwell drilling programs. Valuation in
discovered fields. Appraisal of risky investments under uncertainty. |
|
