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EP4531: FIELD DEVELOPMENT AND PETROLEUM ECONOMICS (2017-2018)

Last modified: 16 Nov 2016 18:26


Course Overview

This course provides a detailed overview of oil and gas field development from discovery to abandonment with particular focus on the decisions made prior to first production. The roles of uncertainties, economics considerations, safety and environmental impact on the design choices are explored.

Course Details

Study Type Undergraduate Level 4
Session Second Sub Session Credit Points 15 credits (7.5 ECTS credits)
Campus None. Sustained Study No
Co-ordinators
  • Dr Lateef Akanji

Qualification Prerequisites

  • Either Programme Level 3 or Programme Level 4

What courses & programmes must have been taken before this course?

What other courses must be taken with this course?

None.

What courses cannot be taken with this course?

Are there a limited number of places available?

No

Course Description

This course provides the practical context for many of the other technical petroleum engineering courses already studied and mirrors the processes followed by oil and gas companies in selecting which opportunities to invest in and how to mature them. The methods used to compare different investment options and characterise uncertainty will be covered. By considering the input data required to perform such investment appraisal, students will be introduced to the challenges of getting hydrocarbons economically from the subsurface rock matrix to saleable products at the surface.  The course takes a multi-disciplinary approach to show the integration of subsurface characteristics, well and completions design, surface facilities, petroleum economics and environmental impact in the preparation of a viable field development plan

Degree Programmes for which this Course is Prescribed

  • Bachelor of Engineering in Petroleum Engineering
  • Master of Engineering in Petroleum Engineering

Contact Teaching Time

72 hours

This is the total time spent in lectures, tutorials and other class teaching.

Teaching Breakdown


Assessment

1st Attempt: 1 three-hour written examination paper (90%), continuous assessment (10%).

The continuous assessment will comprise of assignments on petroleum economics.

Resit: 1 three-hour written examination paper (90%) and the continuous assessment mark from the first attempt (10%).

Formative Assessment

None.

Feedback

a) Assessment grade and feedback comments will be provided on the coursework report within two weeks of submitting the report.

b) Students can receive feedback on their progress with the Course on request at the weekly tutorial/feedback sessions.

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