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Petroleum Economics: A New Era

4 – 6 March 2013

Dubai, UAE | Amwaj Rotana Hotel

About this Workshop

Abstract

The dynamics of oil and gas supply and demand are rapidly changing, and the field of petroleum economics is evolving fast to adapt to the requirements of this new era. To meet the world’s energy needs safely, reliably, and affordably, we will need an integrated set of solutions that include expanding all economic energy sources, improving efficiency, and minimising environmental impact. These solutions must be supported by trillions of dollars in new energy investment, a long-term focus, and constant technological innovation at a time that global financial crisis is continuing. Appropriate use of advanced analytical methods is required to accurately assess these huge and complex investments.

Petroleum economics is affected by a complicated series of political and economic interactions pertaining to the oil industry. People who study this subject need to be familiar with not only the supply and demand factors but also the geopolitical outlook and the history of the oil industry as a whole. Political risks, inflation, unemployment, misallocation of resources, uncertainty of forecasting models, the dynamics of renewable energy alternatives, the complexity of unconventional resources and technology overload; each play an important role. Do we have the proper models that can enlighten all key organisational activities and effectively evaluate the economics of oil and gas projects?

The second specialised SPE workshop on petroleum economics continues with some of the themes from the last event into more focused topics related to challenges faced by the oil and gas industry in the new economic era. This event will give the attendees a chance to discuss the development and issues of new valuation techniques and look at examples of their usage and application with other active practitioners and decision makers. The workshop will include sessions on the oil pricing drivers, macroeconomic parameters, evolution of petroleum contracts, risk management and some insightful discussions on the economics for EOR/IOR projects. It will provide ample opportunity to network with fellow peers and exchange ideas on recent industry trends and challenges.

Objectives

This workshop aims to bring together a wide industry audience including practitioners of economics and decision makers, generalists, and experts. It will address proper approaches and concepts that are implemented in the oil industry economics to develop the participants’ knowledge and skills in order to be able to assess risks and accordingly make the optimum decisions.

The workshop will consist of a series of structured half-day sessions and discussion on:

  • Macroeconomic and geopolitical outlook
  • Risk and uncertainty
  • Economic modelling for decision making
  • Petroleum contracts
  • IOR/EOR economics

Who Should Attend

  • Decision-makers
  • Economists
  • Corporate planners
  • Engineers
  • Portfolio managers
  • Analysts
  • Negotiators
  • Project managers
  • Consultants

Visa Information

SPE Middle East, North Africa, and India will assist in providing a visa invitation letter, upon request in writing, to confirmed registrants after receiving full payment of registration fees. Visa invitation letters take five days to issue from the date of request and it is the delegate's responsibility to obtain their own visa. SPE cannot issue the visa nor can we guarantee it will be obtained.

Workshop Guidelines

Format

Three (3) days of informal discussions prompted by selected keynote presentations and discussions. Workshops maximise the exchange of ideas among attendees and presenters through brief technical presentations followed by extended breakout sessions and Q&A periods. The majority of the presentations are in the form of case studies, highlighting engineering achievements, and lessons learned.

Documentation

  • Proceedings will not be published; therefore, formal papers and handouts are not expected from speakers.
  • Work in progress, new ideas and interesting projects are sought.
  • Professionally-prepared visual aids are not required; handwritten view graphs are entirely acceptable.
  • Note-taking by participants is encouraged.

Poster Session

The Steering Committee encourages registrations from professionals who are able to prepare and present a poster on a relevant project. For further details kindly contact Rasha Badran at rbadran@spe.org.

Attendance

Registrations will be accepted on a first-come, first-serve basis. The Steering Committee encourages attendance from those who can contribute to the workshop most effectively either in discussions or with posters. A mix of attendees in terms of geographic origin, companies, and disciplines will be encouraged.

Workshop Deliverables

  • The Steering Committee will appoint a “scribe” to record the discussions and to produce the full workshop report for SPE.
  • This report will be circulated to all attendees as the workshop deliverable within 4–6 weeks following the workshop. The copyright of the report is with SPE.
  • PowerPoint presentation materials will be posted on a specific SPE URL address after the workshop Provision of the materials by the speakers will signify their permission for SPE to do so.

Commercialism

In keeping with workshop objectives and the SPE mission, commercialism in posters or presentations will not be permitted. Company logos must be limited to the title slide and used only to indicate the affiliation of the presenter and others involved in the work.

Attendance Certificate

All attendees will receive an attendance certificate attesting to their participation in the workshop. This certificate will be provided in exchange for a completed Workshop Questionnaire.

Continuing Education Units

Attendees at this workshop qualify for SPE Continuing Education Units (CEU) at the rate of 0.1 CEU per hour of the workshop.