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Economics of Oil and Gas Production

An Interactive 5-Day Training Course

Economics of Oil and Gas Production

Leveraging Decision-Making Under Uncertainty

NASBA
Classroom Schedule
Date Venue Fees
02 - 06 Nov 2026 Dubai $ 5,950
11 - 15 Jan 2027 Dubai $ 5,950
Online Schedule
Date Venue Fees
02 - 06 Nov 2026 Online $ 3,950

Course Summary

Can you predict the oil price today, tomorrow, or next year? Uncertainty and risk are inherent in the hydrocarbon industry, thus evaluating and quantifying uncertainties and risks associated with a course of action is a vital step in the petroleum business. This is especially critical as oil and gas production is capital-intensive with high operating costs, and the decisions made today last for decades with long-lived assets.

This Economics of Oil and Gas Production training course highlights economic and uncertainty analysis applied to oil and gas projects to facilitate informed decision-making and foster long-term business resilience for complex systems and projects. Applications for screening and evaluation are studied in detail.

This GLOMACS Economics of Oil and Gas Production training course will highlight:

  • Decision & Risk Analysis for Oil & Gas
  • Economic Concepts in the Petroleum Industry
  • Modeling Uncertainty for Hydrocarbon Projects
  • Bayesian Thinking and Decision Tree Framework
  • Economic Evaluation of Unconventional Resources
Course Outline
Day 1

Economic Principles 

  • Motivation
  • Economic Concepts
  • Economic Definitions
  • Cash Flow Analysis
  • Time Value of Money
Day 2

Hydrocarbon Resources Economic Evaluation 

  • Petroleum Resources Management System
  • Petroleum Reserves
  • Return on Investment
  • Net Present Value
  • Screening and Evaluation of Oil & Gas Projects
Day 3

Modeling and Forecasting  

  • Building Models from Data
  • Reservoir Performance
  • Well Production Forecast
  • Sensitivity Analysis
  • Monte Carlo Simulation
Day 4

Unconventional Resources 

  • Unconventional Reservoirs
  • Rate Forecast
  • Economic Value Estimation
  • Investment Evaluation Methods
  • Bayesian Inference
Day 5

Decision and Uncertainty Analysis 

  • Sources of Uncertainty
  • Risks from Uncertainty
  • Decision Tree Construction and Evaluation
  • Decision Analysis and Framework
Certificates
  • On successful completion of this training course, GLOMACS Certificate will be awarded to the delegates.
  • Continuing Professional Education credits (CPE): In accordance with the standards of the National Registry of CPE Sponsors, one CPE credit is granted per 50 minutes of attendance.
Providers and Associations

Endorsed Education Provider

NASBA

In Association With

Options & Brochure
Related Categories
Oil and Gas

Why Choose Saudi GLOMACS?

Saudi GLOMACS is the official Saudi Arabian division of GLOMACS International (glomacs.com), delivering internationally recognised training courses both within Saudi Arabia and across international locations. Our training courses are aligned with the highest professional and institutional standards, supported by a strong understanding of the professional landscape in Saudi Arabia and access to global expertise.

Saudi GLOMACS enables professionals and organisations to strengthen leadership, capability, and long-term excellence through consistently high-quality learning experiences.

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Official Saudi Arabian division of GLOMACS with established global credibility.

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Internationally benchmarked training courses aligned with professional best practices.

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Trusted by professionals and institutions across public and private sectors.

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Training courses delivered within Saudi Arabia and across international locations.

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