This course covers a wide range of content, including basic understanding of economic evaluation concept, general practices for ranking investment opportunities, petroleum fiscal system, and concept of petroleum uncertainties and how to deal with them. Therefore, this course will serve well with both newcomers and existing members who would like to enhance their knowledge regarding economic evaluation in E&P business.

EP. 1 – Time Value of Money: This section introduces basic principle that money today is worth more than the same amount of money in the future. The terminology and method to calculate interest are also explained.

EP. 2 – Petroleum Economics: This section describes the economic evaluation in E&P business and indicators in measuring project profitability.

EP. 3 – Cash Flow Analysis: This section explains E&P project cash flow definition, cash flow analysis, and depreciation methods.

EP. 4 – Petroleum Fiscal System Part 1 & 2: Part 1 covers the profit allocation from petroleum between government and companies including Concession, PSC, and Service Contract system. Part 2 describes fiscal instruments used in E&P business, e.g. Bonus, Royalty, Profit Share, CIT, and special Taxes 11.

EP. 5 – Fiscal Terms of PTTEP’s Project in Thailand: This section demonstrates the real fiscal terms of PTTEP’s projects in Thailand in detail

EP. 6 – Petroleum Risk and Decision Analysis: This section covers risk and uncertainties in E&P, probability distributions, expected value concept, and decision tree.