Introduction to Energy Economics

Upstream Oil & Gas Risk, Investment Appraisal and Decision Making for Non-Technical and New Technical Professionals

Introduction to Energy Economics

This three-day introductory course — an industry-oriented version of one taught to graduate students — is meant for those with limited experience in geoscience, engineering and/or oil and gas commercial modelling.

It is a practitioner’s tour of how risk and uncertainty in the industry are quantified and combined with petroleum economics to determine the intrinsic value of upstream exploration assets. No industry knowledge is assumed.

What You’ll Learn

Quantification of Expected Monetary Value (EMV) of an Unexplored Oil and Gas Target Area, or Prospect
How Prospects Become Economic “Reserves”
Uncertainty Principals and Modelling them via “Monte Carlo” Simulation
How Exploration Prospect Risk is Calculated
Economic Limits
“Above-Ground” Project Risks

Contact Us

UK Head Office:

ERC Equipoise Limited
6th Floor Stephenson House
2 Cherry Orchard Road
Croydon CR0 6BA
London U.K.

+44 (0) 20 8256 1150

ERC Equipoise Pte Ltd
48B Tras Street

+65 6332 5161

ERCE Australia Pty Ltd
2a/83 Havelock Street,
West Perth WA 6005

ERC Evolution (Canada) Ltd.
Suite 200 – 940 6 Ave SW  Calgary, AB, T2P 3T1


ERCE Malaysia Sdn Bhd
Menara Maxis
26th floor
50088 Kuala Lumpur

+603 2615 2733

ERC Energy Resource Consultants Limited
PO Box 73792

+971 (4) 5065 47313