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

Petroleum Economics & Fiscal Systems


Gain in-depth knowledge of petroleum economics and fiscal systems

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


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