Oilfield Economics & Project Evaluation is the core focus of this Oilfield Economics & Project Evaluation for Brownfield Redevelopment Training Course from Institute For Oil & Gas Training. The course develops the commercial, financial and technical decision-making capabilities required to evaluate brownfield redevelopment opportunities across mature oil and gas assets.
Brownfield portfolios present a distinctive economic challenge. Existing fields contain established infrastructure, operating history, production data, wells, facilities and contractual commitments, yet their remaining reserves and production profiles often require increasingly selective capital allocation. Decisions concerning infill drilling appraisal, workovers, enhanced recovery, facility upgrades, compression, debottlenecking and asset life extension require rigorous incremental project evaluation rather than reliance on historical performance alone.
The course addresses the skills gap between technical project concepts and investment-quality economic decisions. It equips professionals to translate reservoir, production, drilling, facilities and operating information into structured economic evaluations that support capital allocation. Participants examine how changes in production profiles, operating expenditure, capital expenditure, fiscal obligations, commodity prices, recovery assumptions and project timing influence economic outcomes.
Marginal field economics receives particular attention because mature and smaller assets often require a different economic perspective from large greenfield developments. Participants assess the relationship between remaining reserves, operating costs, infrastructure utilisation, intervention requirements and abandonment exposure. The course also examines the economic logic behind workover justification, enabling professionals to distinguish between interventions that preserve production and those that create sufficient incremental value.
Oilfield Economics & Project Evaluation for Brownfield Redevelopment Training Course also addresses enhanced oil recovery economics and the evaluation of incremental production initiatives. Participants develop a disciplined approach to comparing investment alternatives based on incremental cash flow, economic value, risk exposure and remaining asset life. This supports more transparent decisions when several redevelopment options compete for limited capital.
Asset life extension represents another major decision area. Mature fields require structured assessment of whether additional expenditure creates economic value over the remaining production period. Participants examine the interaction between production decline, operating expenditure, integrity requirements, facility constraints and future decommissioning liabilities when determining whether continued operation remains commercially justified.
The course also examines the cessation of production decision and the economic considerations surrounding a decommissioning trigger. Professionals learn to assess the point at which continued expenditure no longer produces sufficient incremental value and how future abandonment obligations affect present investment decisions. This provides a stronger commercial foundation for late-life asset planning.
Delivered by Institute For Oil & Gas Training, the course connects petroleum economics with practical brownfield project evaluation. It is designed for organisations seeking stronger alignment between technical teams, finance functions, asset management and investment decision-makers. Participants work with realistic oilfield scenarios that reflect the complexity of mature asset decisions, including uncertain production forecasts, competing redevelopment options, operating cost pressures and changing investment priorities.
The programme supports a consistent evaluation framework that enables professionals to challenge assumptions, identify value drivers, understand economic sensitivities and communicate investment conclusions clearly. Rather than treating economics as a separate financial exercise, the course positions economic evaluation as an integral part of field development, production optimisation and late-life asset management.
Develop practical capability in Oilfield Economics & Project Evaluation for brownfield redevelopment decisions
Evaluate mature field opportunities using structured economic analysis and incremental cash flow principles
Assess marginal field economics in relation to production decline, operating expenditure, capital requirements and remaining reserves
Apply economic appraisal techniques to infill drilling opportunities and redevelopment programmes
Evaluate the financial justification for workovers and production enhancement activities
Assess enhanced oil recovery economics using incremental investment and production assumptions
Compare brownfield redevelopment alternatives using consistent economic evaluation criteria
Analyse capital expenditure and operating expenditure drivers affecting project economics
Understand the commercial implications of production timing and project sequencing
Apply sensitivity analysis to identify critical economic assumptions and value drivers
Evaluate asset life extension opportunities against remaining production potential and future expenditure
Incorporate late-life operating considerations into economic assessments
Understand the economic factors supporting a cessation of production decision
Recognise the commercial significance of a decommissioning trigger in late-life asset planning
Apply incremental project evaluation to investment decisions involving existing producing assets
Improve communication of economic assumptions, findings and investment recommendations
Strengthen collaboration between technical, financial, commercial and asset management teams
Support disciplined capital allocation across competing brownfield opportunities
Institute For Oil & Gas Training uses a commercially focused methodology that connects petroleum economics principles with realistic brownfield decision scenarios. The delivery approach is designed for experienced oil and gas professionals who need to apply economic concepts directly to asset and project decisions.
Case studies form a central component of the programme. Participants examine mature field redevelopment scenarios involving declining production, existing infrastructure, intervention requirements and competing capital opportunities. These cases demonstrate how technical assumptions translate into economic consequences and how investment decisions change when assumptions are revised.
Practical simulations enable participants to assess project economics from the perspective of an asset team preparing an investment recommendation. Participants work through production forecasts, capital expenditure, operating expenditure, project timing, incremental cash flow and economic indicators to determine the commercial implications of redevelopment alternatives.
Group exercises focus on decision quality and cross-functional alignment. Technical, financial and commercial perspectives are brought together to examine questions such as whether an infill well is justified, whether a workover creates sufficient incremental value, whether enhanced recovery expenditure is commercially supportable and whether additional investment extends productive asset life.
Real-world scenarios are used to demonstrate how economic evaluations respond to changing field conditions. Participants examine scenarios involving production decline, cost escalation, facility constraints, recovery improvements and changing commodity price assumptions. Sensitivity analysis and scenario testing are used to identify the assumptions that have the greatest influence on project value.
Facilitated discussions encourage participants to challenge assumptions and distinguish between technical feasibility and economic justification. This is particularly relevant to marginal field economics, where commercially attractive opportunities depend on careful management of operating costs, remaining reserves and infrastructure requirements.
The methodology also emphasises communication. Participants practise presenting economic conclusions in a manner that enables management teams and investment committees to understand project drivers, risks, assumptions and value creation opportunities. This supports stronger collaboration between subsurface, drilling, production, facilities, finance and commercial functions.
Oilfield Economics & Project Evaluation strengthens the quality and consistency of brownfield investment decisions across the organisation. Sponsoring companies gain a structured approach for assessing redevelopment initiatives against production potential, expenditure requirements and commercial objectives.
Improved capital allocation is a direct organisational benefit. Teams gain stronger capability to distinguish between projects that simply maintain existing production and initiatives that generate meaningful incremental value. This helps management focus capital on opportunities with clearly understood economic drivers.
The course supports more disciplined infill drilling appraisal by connecting drilling assumptions with production expectations, investment requirements and incremental cash flow. This improves the quality of economic cases submitted for internal investment decisions.
Workover justification also becomes more structured. Organisations can establish clearer connections between intervention costs, expected production response, operating expenditure and remaining asset life. This supports better prioritisation of intervention programmes and reduces reliance on isolated technical or historical arguments.
Enhanced oil recovery economics is addressed through an incremental investment perspective. This enables organisations to compare recovery initiatives with alternative capital uses and evaluate whether additional recovery expenditure aligns with the economic objectives of the asset.
The programme supports stronger asset life extension decisions by bringing production, facilities, operating expenditure and late-life liabilities into a common evaluation framework. Asset teams gain a clearer basis for assessing continued investment in mature infrastructure and production systems.
Late-life planning benefits from greater awareness of the cessation of production decision. Organisations can evaluate continued operations against remaining production potential and future expenditure requirements, helping integrate economic considerations into decommissioning and abandonment planning.
Cross-functional decision-making also improves. Finance professionals gain a stronger understanding of technical project drivers, while engineers and asset professionals develop greater awareness of financial consequences. This shared perspective supports clearer investment discussions and more consistent project screening.
The course further strengthens management reporting by improving the quality of economic assumptions and project comparisons. Decision-makers receive clearer explanations of project value drivers, sensitivities, risks and expected incremental benefits.
Participants develop practical economic skills that strengthen their contribution to oil and gas asset decisions. They gain the ability to move beyond basic project costing and assess how technical choices affect commercial value.
Professionals involved in field development and production gain stronger capability in connecting production forecasts with investment decisions. They become better equipped to assess whether redevelopment initiatives generate sufficient incremental value relative to the required capital and operating expenditure.
Finance and commercial professionals develop greater confidence when reviewing technical investment proposals. Understanding infill drilling appraisal, workover economics and enhanced oil recovery economics enables them to challenge assumptions constructively and engage more effectively with technical colleagues.
Asset managers strengthen their ability to evaluate competing brownfield opportunities. They gain a structured framework for comparing redevelopment initiatives, maintenance expenditure, production enhancement projects and asset life extension strategies.
Participants also improve their understanding of late-life asset economics. They gain practical insight into the factors that influence a cessation of production decision and understand how future decommissioning expenditure affects the economics of continued operations.
The programme enhances analytical capability through scenario evaluation and sensitivity analysis. Participants learn to identify the assumptions that materially influence project value and communicate how changes in those assumptions affect investment conclusions.
Career capability benefits from stronger cross-functional competence. Professionals who understand technical, financial and commercial considerations are better positioned to contribute to asset reviews, capital planning, investment committees, project assurance and portfolio discussions.
Participants also develop stronger business communication skills. They learn to present economic findings clearly, distinguish key assumptions from secondary information and explain the commercial rationale behind a project recommendation.
Asset Managers who require stronger frameworks for evaluating redevelopment and late-life asset investment decisions
Petroleum Economists who need advanced application of economic principles to mature producing assets
Field Development Professionals who assess brownfield redevelopment and incremental production opportunities
Reservoir Engineers who need to connect remaining reserves and recovery strategies with project economics
Production Engineers who evaluate interventions, workovers and production optimisation initiatives
Drilling Engineers involved in infill drilling appraisal and redevelopment planning
Facilities Engineers assessing brownfield modifications, debottlenecking and infrastructure investment
Subsurface Professionals who contribute production and reserves assumptions to economic evaluations
Finance Professionals supporting upstream investment appraisal, budgeting and asset performance reviews
Commercial Professionals involved in project screening, investment analysis and portfolio decisions
Planning and Strategy Professionals responsible for capital allocation and asset portfolio evaluation
Petroleum Engineering Managers overseeing technical and economic assessment of field opportunities
Operations Managers involved in production optimisation and asset life extension decisions
Investment and Portfolio Professionals evaluating competing oil and gas capital opportunities
Senior Management seeking stronger integration between technical assessments and commercial decisions
This module establishes the economic foundations required to evaluate mature oil and gas assets. It focuses on the commercial characteristics of brownfield projects and the relationship between production profiles, remaining reserves, capital expenditure, operating expenditure and project value.
Provides accounting guidance relevant to exploration and evaluation expenditure within entities applying International Financial Reporting Standards
Supports consistent consideration of exploration and evaluation expenditure in financial reporting
Helps participants understand the distinction between economic project appraisal and financial reporting treatment
Provides useful context when linking project economics with corporate finance processes
Explain the fundamental principles of brownfield oilfield economics
Identify the principal drivers of mature asset value
Distinguish between project economics and accounting treatment
Construct a structured incremental economic assessment
Recognise key assumptions affecting brownfield investment decisions
Apply basic sensitivity analysis to project assumptions
This module focuses on evaluating redevelopment opportunities within existing producing fields. Participants assess how additional wells, facility modifications and production enhancement initiatives influence incremental value.
Provides a recognised framework for classification and categorisation of petroleum resources
Supports consistent communication of reserves and resource information used in project evaluation
Helps professionals connect resource assumptions with development and economic decisions
Provides an important reference when evaluating the commercial basis of incremental production projects
Evaluate brownfield redevelopment opportunities using incremental economics
Assess the economic basis of infill drilling appraisal
Develop a structured workover justification
Compare competing production enhancement opportunities
Identify the relationship between additional production and incremental expenditure
Evaluate the effect of project timing on investment value
This module examines the economic evaluation of initiatives designed to improve recovery and sustain production from mature fields. The focus is on determining whether additional expenditure creates sufficient incremental value.
Establishes principles for collecting and exchanging equipment reliability and maintenance data
Supports structured consideration of equipment performance in asset management decisions
Provides useful data context for evaluating maintenance and intervention requirements
Helps connect equipment performance information with operational and economic analysis
Assess enhanced oil recovery economics using incremental project principles
Evaluate workover opportunities against expected production response
Identify the economic drivers of production optimisation projects
Compare intervention alternatives using consistent assumptions
Assess the effect of operating expenditure on project economics
Apply sensitivity analysis to production enhancement decisions
This module addresses the economic challenges associated with extending the productive life of mature oil and gas assets. Participants evaluate continued investment against declining production, rising operating requirements and future decommissioning obligations.
Establishes requirements for an asset management system
Supports structured consideration of asset value, performance and lifecycle objectives
Provides a recognised framework for lifecycle decision-making
Helps organisations align asset management activities with strategic and financial objectives
Evaluate asset life extension opportunities using economic principles
Assess the financial implications of continued investment in mature assets
Identify key factors influencing a cessation of production decision
Understand the economic relevance of a decommissioning trigger
Incorporate late-life expenditure into project evaluation
Compare continued operation with cessation scenarios
This module integrates the economic concepts developed throughout the course into a practical investment decision framework. Participants evaluate complete brownfield scenarios and develop structured conclusions for management and investment stakeholders.
Provides recognised professional guidance relevant to petroleum reserves and resources evaluation
Supports consistency in the technical foundation used for project and asset assessments
Helps professionals maintain disciplined resource evaluation practices
Provides relevant context for integrating technical assumptions into commercial project analysis
Integrate technical and financial inputs into a complete project evaluation
Apply incremental project evaluation to brownfield investment opportunities
Compare redevelopment alternatives using structured economic analysis
Identify the assumptions with the greatest influence on project value
Present economic findings clearly to management and investment stakeholders
Develop a disciplined framework for brownfield capital allocation
Connect redevelopment economics with asset life extension and late-life decisions
Attendees receive a Certificate of Completion from Institute For Oil & Gas Training upon successfully finishing the course. Certificate issuance requires attendance throughout the full course and completion of the required programme activities.
Fees include tuition, course materials and refreshments. Need different dates or a different city? Ask about your preferred date.
The course covers brownfield economic evaluation, marginal field economics, infill drilling appraisal, workover justification, enhanced oil recovery economics, asset life extension and late-life investment decisions.
The programme is designed for asset managers, petroleum economists, engineers, finance professionals, commercial specialists, planning teams and managers involved in oil and gas investment decisions.
Institute For Oil & Gas Training delivers the programme through practical case studies, simulations, group exercises and realistic brownfield scenarios focused on commercial decision-making.
Yes. The course examines the economic factors behind a cessation of production decision, including declining production, operating expenditure, remaining asset life and decommissioning considerations.
Attendees who complete the programme and meet the attendance requirement receive a Certificate of Completion from Institute For Oil & Gas Training.
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