Petroleum Economics and Fiscal Regimes (OG-029) Training Course

Petroleum Economics and Fiscal Regimes

Every investment decision in the oil and gas industry depends on economic analysis that combines technical forecasts, prices, costs and the fiscal terms imposed by host…

5 daysClassroom or online

13Upcoming dates

5Cities

£2,250Fees from

Course overview

Why Attend

Every investment decision in the oil and gas industry depends on economic analysis that combines technical forecasts, prices, costs and the fiscal terms imposed by host governments. Understanding how fiscal regimes affect project value is essential for companies, governments and investors alike.

This LLMI course provides a practical grounding in petroleum economics, covering cash flow modelling, discounting, investment criteria, risk and uncertainty analysis, and the main types of fiscal regimes including concessions, production sharing contracts and service contracts. Participants build and analyse economic models and compare how different fiscal terms change project returns for companies and governments.

The course balances concepts with hands-on spreadsheet work so that participants can apply the techniques in their own roles.

Course Objectives

Build cash flow models for oil and gas projects

Apply NPV, IRR and other investment criteria

Analyse risk using sensitivity, scenario and probabilistic methods

Explain concession, production sharing and service contract regimes

Calculate government take and company returns under different terms

Support investment and negotiation decisions with economic analysis

Target Audience

Petroleum economists and financial analysts

Engineers and geoscientists involved in project evaluation

Commercial and business development professionals

Government and regulatory officials

Finance and planning managers in energy companies

Investment and banking professionals

Course Methodology

Concept sessions with worked examples

Hands-on spreadsheet modelling

Fiscal regime comparison exercises

Case studies of real investment decisions

Group presentations of economic evaluations

Course outline

1Day 1: Foundations of Petroleum Economics
- Role of economics in the oil and gas business
- Time value of money and discounting
- Cash flow components: revenue, capex, opex and tax
- Price and cost forecasting
- Inflation and exchange rates
- Exercise: Building a simple project cash flow
2Day 2: Investment Criteria and Decisions
- NPV, IRR and profitability index
- Payback and capital efficiency
- Ranking and selecting projects
- Portfolio considerations
- Common pitfalls in evaluation
- Lab: Evaluating competing development options
3Day 3: Risk and Uncertainty
- Sensitivity and break-even analysis
- Scenario analysis
- Probabilistic methods and expected value
- Decision trees for exploration
- Value of information
- Exercise: Risked economics of an exploration prospect
4Day 4: Fiscal Regimes
- Concession and royalty-tax systems
- Production sharing contracts
- Service and risk service contracts
- Government take and fiscal progressivity
- Stability and ring-fencing
- Workshop: Comparing fiscal regimes
5Day 5: Applying Economic Analysis
- Economics in negotiations with governments
- Economics of mature fields and late-life assets
- Energy transition and carbon costs in economics
- Presenting results to decision-makers
- Best practice in model review
- Capstone: Full economic evaluation of a case project

Schedule

Dates and fees

13 upcoming dates in 5 cities. Fees are per delegate; bring colleagues and every seat is discounted. Every date can also be joined live online for £1,280.

All dates as PDF

December 2026

21DEC 21 - 25 Dec 2026Mon to Fri · 5 daysNext session

BarcelonaSpain · Classroom

£3,850per delegate2+ people: £3,080 each

January 2027

18JAN 18 - 22 Jan 2027Mon to Fri · 5 days

BarcelonaSpain · Classroom

£3,850per delegate2+ people: £3,080 each

February 2027

15FEB 15 - 19 Feb 2027Mon to Fri · 5 days

FrankfurtGermany · Classroom

£3,250per delegate2+ people: £2,600 each

March 2027

15MAR 15 - 19 Mar 2027Mon to Fri · 5 days

RomeItaly · Classroom

£4,250per delegate2+ people: £3,400 each

April 2027

19APR 19 - 23 Apr 2027Mon to Fri · 5 days

Kuala LumpurMalaysia · Classroom

£2,250per delegate2+ people: £1,800 each

May 2027

17MAY 17 - 21 May 2027Mon to Fri · 5 days

BarcelonaSpain · Classroom

£3,850per delegate2+ people: £3,080 each

June 2027

21JUN 21 - 25 Jun 2027Mon to Fri · 5 daysOur home city

LondonUnited Kingdom · Classroom

£2,750per delegate2+ people: £2,200 each

July 2027

19JUL 19 - 23 Jul 2027Mon to Fri · 5 days

FrankfurtGermany · Classroom

£3,250per delegate2+ people: £2,600 each

August 2027

16AUG 16 - 20 Aug 2027Mon to Fri · 5 days

BarcelonaSpain · Classroom

£3,850per delegate2+ people: £3,080 each

September 2027

20SEP 20 - 24 Sep 2027Mon to Fri · 5 days

BarcelonaSpain · Classroom

£3,850per delegate2+ people: £3,080 each

October 2027

18OCT 18 - 22 Oct 2027Mon to Fri · 5 days

FrankfurtGermany · Classroom

£3,250per delegate2+ people: £2,600 each

November 2027

15NOV 15 - 19 Nov 2027Mon to Fri · 5 days

RomeItaly · Classroom

£4,250per delegate2+ people: £3,400 each

December 2027

20DEC 20 - 24 Dec 2027Mon to Fri · 5 days

Kuala LumpurMalaysia · Classroom

£2,250per delegate2+ people: £1,800 each

Live online, on the same dates

Join the class in real time from your office or home: live sessions with the trainer, group discussion, course materials and a certificate of completion. Joining details are emailed before the course starts.

December 2026

21DEC 21 - 25 Dec 2026Mon to Fri · 5 daysNext session

Live onlineVirtual classroom · join from anywhere