Petroleum Project Economics and Risk Analysis (OG-005) Training Course

Petroleum Project Economics and Risk Analysis

Petroleum projects require massive capital investment, long development cycles, and are highly exposed to market volatility, technical uncertainty, and geopolitical…

5 daysClassroom or online

15Upcoming dates

6Cities

£2,750Fees from

Course overview

Why Attend

Petroleum projects require massive capital investment, long development cycles, and are highly exposed to market volatility, technical uncertainty, and geopolitical risks. Effective economic evaluation and risk analysis are essential for making sound investment decisions in the oil and gas industry. This course equips participants with the tools to evaluate project feasibility, assess financial returns, and manage risk across the project lifecycle. It is designed to help professionals improve investment decision-making, optimize capital allocation, and enhance project profitability.

Course Methodology

This course combines petroleum economics theory with practical, industry-based case studies. Participants will work through real project valuation scenarios, risk modeling exercises, and investment decision simulations. Workshops will focus on cash flow modeling, sensitivity analysis, and risk assessment techniques. Interactive discussions and group exercises will reinforce understanding of upstream project economics and uncertainty management.

Course Objectives

By the end of this course, participants will be able to:

Understand fundamentals of petroleum project economics
Evaluate upstream oil and gas project feasibility
Apply investment appraisal techniques such as NPV, IRR, and payback period
Analyze cost structures and cash flow models in petroleum projects
Identify and assess technical, financial, and market risks
Perform sensitivity and scenario analysis
Optimize investment decisions under uncertainty
Support strategic capital allocation decisions

Target Audience

Petroleum Engineers and Project Engineers
Finance and Investment Analysts in Oil & Gas
Project Managers and Cost Engineers
Reservoir and Production Engineers
Business Development and Strategy Professionals
Consultants and Energy Sector Professionals

Target Competencies

Petroleum economic evaluation and modeling
Investment appraisal and capital budgeting
Risk identification and mitigation
Cash flow and financial forecasting
Sensitivity and scenario analysis
Decision-making under uncertainty
Strategic investment planning

Course outline

1Day 1: Fundamentals of Petroleum Economics

Overview of petroleum project lifecycle
Structure of upstream oil and gas economics
Cost classification (CAPEX and OPEX)
Revenue streams in petroleum projects
Time value of money in energy investments

2Day 2: Investment Appraisal Techniques

Net Present Value (NPV) analysis
Internal Rate of Return (IRR)
Payback period and profitability index
Cash flow modeling fundamentals
Decision criteria for project selection

3Day 3: Cost Estimation and Financial Modeling

Capital cost estimation methods
Operating cost analysis
Building petroleum project cash flow models
Production profiles and decline curves
Economic life of oil and gas assets

4Day 4: Risk and Uncertainty Analysis

Types of risks in petroleum projects
Technical, operational, and market risks
Sensitivity analysis techniques
Scenario planning and decision trees
Monte Carlo simulation overview

5Day 5: Strategic Decision-Making and Case Studies

Portfolio management in petroleum investments
Risk-adjusted decision-making
Break-even analysis and price volatility impact
Case studies of real oil and gas projects
Final project: full economic and risk evaluation exercise

Frequently asked questions

How long is the Petroleum Project Economics and Risk Analysis course?

The course runs over 5 days of classroom training, usually Monday to Friday.

When is the next Petroleum Project Economics and Risk Analysis course?

The next public date is 16 - 20 Nov 2026 in London. There are 15 upcoming dates in total.

Where is this course held?

Upcoming sessions run in London, Barcelona, Istanbul, Amsterdam, Paris, Munich.

Can I take Petroleum Project Economics and Risk Analysis online?

Yes. Every date can also be joined live online in a virtual classroom with the trainer, for £1,280 per participant. Choose "Live online" in the dates table when you register.

How much does the course cost?

Fees start from £2,750 per delegate, depending on the city. Fees include tuition and course materials.

Do participants receive a certificate?

Yes. Delegates who complete the course receive a London Leadership Management Innovation certificate of completion.

Can this course be delivered in-house for our team?

Yes. LLMI can tailor and deliver this course privately for your organisation at your premises or in one of our training cities.

Course information last updated 14 November 2026.

Petroleum Project Economics and Risk Analysis

Course overview

Why Attend

Course Methodology

Course Objectives

Target Audience

Target Competencies

Course outline

Dates and fees

Frequently asked questions

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