Course Information

Duration (hours)   
39
ECTs4
Practice

Simulation

Instructor(s)

Prof. V. Moustakis, TUC

Dr. Giannis Grigoriou, HELPE

Mrs. Georgianna Petrolia, HELPE

Mr. Nikos Tampakopoylos

 

Description

This course deals with understanding the basic economic concepts involved in hydrocarbon exploration projects. The topics covered include project assessment, investments, risk analysis, and decision making.

 

Syllabus

 

Week No.

Topics

Instructor

1

Time value of money, interest and financial mathematics

Prof. V. Moustakis

2

Methods of economic analysis: Present Worth, Annual Worth, Benefit - Cost Ratio and Internal Rate of Return

Prof. V. Moustakis

3

Effect of inflation and risk and sensitivity analysis

Prof. V. Moustakis

4

Upstream commercial aspects

§  Exploration & Production rights

§  Award process

§  Main upstream business concepts

§  Business opportunity: case study

Dr. G. Grigoriou

Mrs. G. Petrolia

5-6

Petroleum economics

§  Joint Venture Aspects

§  Nature of Costs – Capital and Operational expenses  

§  Fiscal Regime per type of Contract (production sharing / royalties – tax)

§  Commercial issues/Business Strategy – dealing with Risk and Uncertainties

Dr. G. Grigoriou

Mrs. G. Petrolia

7

Current Greek Legislation – Law 2289/95 & Law 4001/2011

Mr. N. Tampakopoulos

8

Royalty – Tax Regime in Greece, Analysis of the Lease Model Agreement

Mr. N. Tampakopoulos

9

Production Sharing Agreement, Analysis of a typical PSC Agreement

Mr. N. Tampakopoulos

10

Joint Operating Agreement, Analysis of the AIPN model Agreement

Mr. N. Tampakopoulos

11

Simulation - workshop

Mr. N. Tampakopoulos

12

 

Mrs A. Stathi

13

 

Mrs A. Stathi

 

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Petroleum Engineering postgraduate program of the Technical University of Crete is a one-year, full-time program, designed to provide students with a scientific background in hydrocarbon exploration and skills in the practical aspects of petroleum engineering. The program begins in October, and leads to a Master of Science (MSc) degree. The program is run by the School of Mineral Resources Engineering.