Course Location/Date : Kigali, Rwanda/18 -22 August, 2025
Course Location/Date: London , UK/15-19 September, 2025
Course Location/Date: London , UK/15-19 December, 2025
Contact us at info@vistaenergylc.com for more inquiries and registration
Course Overview:
This course delivers an in-depth understanding of upstream oil and gas operations, economic evaluation techniques, investment decision-making processes, and fiscal metering systems. It covers the complete upstream value chain from exploration through to production, treatment, and sales measurement. Delegates will gain practical insights into field development economics, cash flow analysis, project evaluation metrics (NPV, IRR, CPI), production allocation, and the fundamentals of fiscal metering, including global standards and custody transfer systems.
Additionally, the course highlights the decision-making processes involved in upstream projects, from geophysical exploration to investment analysis under uncertainty, including probability-based modeling tools like sensitivity analysis and Monte Carlo simulation. A strong emphasis is placed on fiscal terms, production sharing contracts, measurement accuracy, fluid dynamics, and international best practices in hydrocarbon fiscalization.
Who Should Attend:
This course is ideal for professionals involved in the upstream segment of the oil and gas industry, including but not limited to:
- Reservoir, production, and process engineers
- Field development and project engineers
- Petroleum economists and planning analysts
- Finance, investment, and commercial analysts
- Hydrocarbon accountants and metering specialists
- Measurement, instrumentation, and operations engineers
- Government regulatory and NOC representatives
- Business development and asset management teams
Course Objectives:
By the end of this course, participants will be able to:
- Understand upstream operations from exploration to production and treatment
- Analyze oil and gas market dynamics, including reserves, production, and price volatility
- Evaluate investment decisions using key economic indicators like NPV, IRR, payback, and CPI
- Apply probabilistic tools for risk-based decision-making and uncertainty analysis
- Understand the fundamentals and components of fiscal metering systems
- Differentiate between flow measurement technologies and their operational advantages
- Design and operate fiscal metering stations for both oil and gas in compliance with international standards (API, AGA, OIML)
- Recognize the importance of loss control, LACT systems, and allocation accuracy in hydrocarbon sales
- Integrate economic, operational, and fiscal factors for sound upstream decision-making
Course Outline:
Day 1 – Upstream Operations and Industry Overview
- Introduction to the Programme
- Overview of Oil & Gas Industry Segments: Upstream, Midstream, and Downstream
- Global Reserves, Production, and Consumption Trends
- Oil Price Volatility and Market Fundamentals
- Origin of Oil and Natural Gas
- Exploration Activities and Seismic Techniques
- Reservoir Geology and Geophysical Prospecting
- Drilling Technologies and Well Construction
- Logging and Well Completion Fundamentals
- Multilateral Well Optimization and Lateral Competition
- Vertical, Deviated, and Horizontal Well Technologies
Day 2 – Production Operations and Economic Considerations
- Commingled Production: Equipment and Flowline Systems
- Fluid Treatment: Specifications, Impurities, Corrosion and Scale Control
- Separation and Oil/Gas Processing Techniques
- NGL and LPG Recovery Operations
- Oil Storage and Refining Overview
- Safety Principles in Field Operations
- Introduction to Project Management in Field Development
- Economic Evaluation of Oil & Gas Projects
- Economic Concepts: Economic Limit, NPV, IRR, and Payback
- Investment Decision-Making in Upstream Development
Day 3 – Cash Flow Modeling and Economic Evaluation
- Understanding Net Cash Flow and Economic Life
- Cash Flow vs. Profit, and Cash Flow under PSCs
- Taxation and Sunk Costs
- Real vs. Nominal Cash Flows and Inflation Impact
- Depreciation Techniques and Capital Allowances
- Evaluation Metrics: NPV, IRR, Payback Period, and CPI
- Sensitivity and Scenario Analysis
- Probability Analysis in Investment Decisions
- Monte Carlo Simulation for Risk Assessment
- Exploration Economics and Project Screening
- Overview of Fiscal Regimes and PSCs
- Asia-Pacific and Global Fiscal Terms Overview
Day 4 – Fiscalization, Custody Transfer, and Loss Control
- Components of a Fiscal Metering System
- Sales Contracts and International Measurement Standards
- Custody Transfer Practices and Metering Expectations
- OIML Accuracy Requirements and System Validation
- Loss Control and Lease Automatic Custody Transfer (LACT)
- Applied Accuracy Concepts: Precision, STD, Variance, Repeatability
- Control Charts for Performance Monitoring
- Fluid Dynamics in Flow Measurement: Viscosity, Density, Reynolds Number
- Bernoulli’s Principle and Energy Balances in Fluids
- API Gravity and Oil Classification
- Measurement Best Practices (API MPMS, OIML, ISO)
- Practical Case Study: Differential Pressure Flow Metering
- Devices: Venturi, Nozzle – Pros and Cons
- Turn-Down Ratio and Rangeability in Flow Meter Selection
- Overview of PD Meters, Turbine, Ultrasonic, Coriolis, Thermal Mass, EMF, Vortex
Day 5 – Fiscal Gas Measurement and Station Design
- AGA Standards and Gas Flow Calculation Methods
- Role and Functionality of Flow Computers
- Standardized Gas Flow Equations and Correction Factors
- Key Components of a Fiscal Gas Metering Station
- Best Practices for Installation and Operation
- Gas Metering Design: Flow Conditioning, Sample Points, Pressure/Temperature Correction
- Integration with SCADA and Data Management Systems
- Summary, Case Examples, and Open Discussion