Peteng Master: Petroleum Economics & Law

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- Courses Overview
- First Semester
  - Petroleum Geology
  - Petroleum Geochemistry
  - Drilling Engineering
  - Reservoir Engineering
  - Data Analysis and Modeling in Petroleum Engineering
- Second Semester
  - Seismic Imaging & Well Logging
  - Production Engineering
  - Reservoir Simulation
  - Special Topics in Petroleum Engineering
  - Petroleum Economics & Law
- Seminars
  - Seminars 2017-18
  - Seminars 2018-19
Schedule
- Academic Calendar
- Spring Semester Schedule
  - Week 1 (23 Mar. - 26 Mar. 2021)
  - Week 2 (29 Mar - 02 Apr. 2021)
  - Week 3 (5-9 Apr. 2021)
  - Week 4 (12 - 16 Apr. 2021)
  - Week 5 (19 - 23 Apr. 2021)
  - Week 6 (10-14 May 2021)
  - Week 7 (17 - 21 May 2021)
  - Week 8 (24 - 28 May 2021)
  - Week 9 (31 May - 4 June 2021)
  - Week 10 (7 - 11 June 2021)
  - Week 11 (14 - 18 June 2021)
  - Week 12 (22 - 24 June 2021)
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Course Information

Duration (hours)	39
ECTs	5
Practice	Simulation
Instructor(s)	Dr. Stella Tsani Mrs. Georgianna Petrolia, Chief Economist HELPE

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

1^st Lecture	Introduction to petroleum economics and law Review of core concepts and market developments Project management and economic assessment of project stages
2^nd Lecture	Economic and legal aspects of petroleum contracts and projects Economic and legal provisioning Joint Ventures, Production Sharing Agreements, Lease Agreements
3^rd Lecture	Legal and regulatory framework for the petroleum sector with emphasis on EU, Greece and South East Europe Labour markets Technology transfer and environmental policies
4^th Lecture	Fiscal regimes for the petroleum sector Global case studies analysis with focus on major oil and gas producers Russia, Venezuela, Canada, USA, Kazakhstan, European countries- Norway, UK and South East Europe-Greece, Cyprus, Israel
5^th Lecture	Local content economics and legislation in the petroleum sector International experience EU context
6^th Lecture	Economic and legal aspects of alternative market forms Monopoly, oligopoly, OPEC Oil majors, International Oil Companies, National Oil Companies
7^th Lecture	Climate change and sustainable development goals: Implications for the petroleum sector Economic and legal prospects of sustainable development Sustainable sectoral transition
8^th Lecture	Present and future of the oil and gas industry Socio-economic scenarios for the petroleum sector to 2050 BP Statistical review, IEA World Energy Outlook, World Energy Policy scenarios,etc
9^th Lecture	Exploration and Production Rights Award process Main upstream concepts Options to acquire E&P
10^thLecture	Strategy of Oil Companies/ Fiscal Regimes Country Analysis E&P risks Fiscal Regimes – types of Contracts Greek Fiscal Regime – Current Legislation
11^thLecture	Project Economics and decision Making Capital Expenditures, Operational Expenditures, Cash Flows Criteria for Decision Making (NPV, IRR Payback etc) Decisions under capital rationing Decision Trees/ Risk Analysis
12^thLecture	Joint Ventures Operations of Joint Ventures Joint Operating Agreement Cost Controlling Technics Joint Venture Accounting

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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.

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