PETROENG 7070 - Integrated Field Development Planning and Economics Project

North Terrace Campus - Semester 1 - 2016

The course information on this page is being finalised for 2016. Please check again before classes commence.

This project-based course covers the process and methods to create an optimal plan to develop a petroleum deposit. It starts with an overview of decision-making (to create value) and project economics (to assess value). Topics to be addressed include: decision-making process; decision-tree analysis; quantifying uncertainty/risk; Monte Carlo Simulation; petroleum project cash-flows and fiscal regimes; time-value-of-money and economic metrics. (The principles will be useful in your personal life.) Key project drivers are discussed and it is shown how multiple disciplines must interact to maximise the value of a project. It covers all aspects of field development planning - commencing with screening studies, after discovering hydrocarbons, through to project sanction. The development phase is highlighted as having the potential to add maximum value. It is shown how a good balance is needed among key elements: reservoirs, wells and facilities, to minimize costs whilst maximising recovery. The team-based project is based on a real offshore case. The first part is to develop a recommendation for the optimum field appraisal plan. The second part of involves the feasibility and derivation of the optimum development plan. Participants work in small teams and will submit written plans and give presentations in front of a panel.

  • General Course Information
    Course Details
    Course Code PETROENG 7070
    Course Integrated Field Development Planning and Economics Project
    Coordinating Unit Australian School of Petroleum
    Term Semester 1
    Level Postgraduate Coursework
    Location/s North Terrace Campus
    Units 6
    Contact approximately 90 ? mixture of: intensive-format lectures and class exercises with consultation & advice for project teams
    Available for Study Abroad and Exchange Y
    Incompatible PETROENG 7049, 7054 or 7043
    Assumed Knowledge Content of the first 8 courses in the Master of Petroleum Engineering Program plus mathematics and physics typical of a BEng or BSc Program. Proj teams will be chosen to ensure team as a whole has assumed knowledge
    Restrictions Only available to Master of Petroleum Engineering students
    Course Description This project-based course covers the process and methods to create an optimal plan to develop a petroleum deposit.
    It starts with an overview of decision-making (to create value) and project economics (to assess value). Topics to be addressed include: decision-making process; decision-tree analysis; quantifying uncertainty/risk; Monte Carlo Simulation; petroleum project cash-flows and fiscal regimes; time-value-of-money and economic metrics. (The principles will be useful in your personal life.)
    Key project drivers are discussed and it is shown how multiple disciplines must interact to maximise the value of a project. It covers all aspects of field development planning - commencing with screening studies, after discovering hydrocarbons, through to project sanction. The development phase is highlighted as having the potential to add maximum value. It is shown how a good balance is needed among key elements: reservoirs, wells and facilities, to minimize costs whilst maximising recovery.
    The team-based project is based on a real offshore case. The first part is to develop a recommendation for the optimum field appraisal plan. The second part of involves the feasibility and derivation of the optimum development plan. Participants work in small teams and will submit written plans and give presentations in front of a panel.
    Course Staff

    Course Coordinator: Professor Steve Begg

    Course Timetable

    The full timetable of all activities for this course can be accessed from Course Planner.

  • Learning Outcomes
    Course Learning Outcomes

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    University Graduate Attributes

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  • Learning & Teaching Activities
    Learning & Teaching Modes

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    Workload

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    Learning Activities Summary

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  • Assessment

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    Assessment Summary

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    Assessment Detail

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    Submission

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    Course Grading

    Grades for your performance in this course will be awarded in accordance with the following scheme:

    M10 (Coursework Mark Scheme)
    Grade Mark Description
    FNS   Fail No Submission
    F 1-49 Fail
    P 50-64 Pass
    C 65-74 Credit
    D 75-84 Distinction
    HD 85-100 High Distinction
    CN   Continuing
    NFE   No Formal Examination
    RP   Result Pending

    Further details of the grades/results can be obtained from Examinations.

    Grade Descriptors are available which provide a general guide to the standard of work that is expected at each grade level. More information at Assessment for Coursework Programs.

    Final results for this course will be made available through Access Adelaide.

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