3 Day Masterclass in Petroleum Economics & Fiscal Systems | Terrapinn Training
3 day Masterclass

Petroleum Economics & Fiscal Systems


Gain a complete understanding of the use of the techniques of economic analysis and risk analysis as currently practiced in the oil and gas industry.

Participants will receive a thorough understanding of the context of economic analysis as well as practical instruction and an appreciation of the analytical techniques used. The 3 Day Masterclass in Petroleum Economics is an introductory course which covers the setup of analysis cases, including the estimation of recoverable reserves, production profiles, commodity prices, and project costs – CapEx, OpEx, and Transportation.

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develop new skills

Learn how to incorporate financing and government fiscal terms into the analysis

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learn in depth

Gain comprehensive knowledge of project economics analysis and decision-making

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learn from the best

Analyse the pitfalls that can trip up the inexperienced


The course will cover cash flow analysis, deriving and understanding economic indicators and detailed probability and fiscal analysis. These are vital components of the evaluation of investments in today’s international upstream oil and gas industry. 

Over the course of the three days, you will identify the criteria used in project economics decision-making, e.g. rate of return, NCF, NPV, PIR, Payout, EMV, RPI, as well as the objectives of different investors and producers in the context of the various decision-making criteria.

You will learn a variety of analytical frameworks and tools, including base case analysis; sensitivity analysis and risk analysis (risked vs un-risked results). The course also covers full cycle vs half cycle analysis, including the role of government and tax terms, e.g. unburdened & burdened analysis, and the concept of Economic Rent, as well as such concepts as ring fencing.

In just 3 days you will:

  • Build analysis production profiles and use of exponential, harmonic, & hyperbolic decline curves
  • Determine netback prices, including adjustments for crude oil quality and gas composition
  • Determine capital and operating costs
  • Understand the criteria used to make investment decisions
  • Learn to incorporate financing and government fiscal terms into the analysis
  • Understand how to assess joint venture farm in/out options
  • Analyse the pitfalls that can trip up the inexperienced
  • Support informed investment decisions
  • Support management and negotiations
  • Contribute to policy dialogue and development

Organisations that will benefit:

  • Oil & Gas Companies
  • Offshore Contractors
  • Government Officials
  • Land Administrators
  • Tax Advisors
  • Negotiators
  • Policy Advisors
  • Energy Consultants
  • Lawyers

Who will attend:

  • Commercial Analysts/Executive/Managers
  • Business Planners/Analysts/Executives/Managers
  • Production Sharing Executives/Managers
  • Project Executives/Manager
  • Reservoir, Production & Petroleum Engineers
  • Planning and Development Analysts/Executives
  • Petroleum Economists
  • Geoscientists
  • General Managers
  • Finance and Account Executive/Managers

Course Agenda

  • Big Picture
  • Speed Networking
  • Economic Concepts
  • Investment Decision-Making Criteria
  • Accounting for Risk
  • Joint Ventures
  • State Company Participation
  • Financing
  • Review & Questions
  • Fiscal System Definition & Classification
  • Corporate Income Tax
  • Investor Tax Position
  • Profit Sharing Systems
  • Incremental & Gold Plating Analysis
  • Production Sharing & Service Fee Systems
  • How to measure fiscal health
  • Case study preparation
  • Case study presentations
  • World fiscal trends & policy pitfalls
  • Wrap

For further information please call: +44 (0)207 092 1045

  • “Barry has a wealth of international petroleum economics and policy experience. He is a global expert in the interaction between upstream project economics and fiscal system design”

    - Dr. Pedro Van Meurs, Van Meurs Corp

  • “As the course facilitator,Barry was exceptionally patient and knowledgeable. His command of the subject matter is extraordinary.”

    - New York, March, 2015

  • “The Instructor, Mr. Barry Rodgers, is very knowledgeable and open to questions in the class.”

    - Singapore, September, 2014

  • “The whole course content was useful and interesting, but should have been held over a longer period.”

    - Istanbul, July, 2013


We can come to you too! If you have a team of six or more, why not hold a private course? Our experts come to you and the course is tailored to your requirements.

Call +44 (0)20 7092 1045 (United Kingdom)
or +65 6322 2333 (Asia Pacific)
for more details