Question 1: The following question concerns the roles of the various organisations involved in the oil & gas industry.
Consider the roles and activities of a typical Operator/Duty holder, Investor and Equipment Vendor in the context of an offshore platform.
a. Identify the areas where the parties’ objectives are aligned (15%)
b. Identify areas of potential conflicts and how they might be overcome. (15%)
Question 2: The following questions concerns petroleum economics and taxation regimes, legal arrangements and contractual relationships.
a. Many developing countries have adopted a PSA regime for the governance of oil & gas activities because they believe it delivers a larger share of economic rent to the government. State whether you agree or disagree with this and explain your conclusion by comparing this to the structure of other possible regimes (e.g. Concession, JV, Service Agreement). (30%)
b. Using the evaluation model provided, identify the impact on the investing company IRR and capital efficiency (NPV/NPC) of varying capital cost inflation over a range from 0% to 25% (adjust cell F68 to do this). Explain how and why different views on inflation might affect a decision to invest. (10%)
Question 3: The following question concerns the risks faced by the industry and means of identifying and managing them.
Describe the various graphical and numerical simulation evaluation techniques used by oil and gas companies to help them understand the reservoir development risks that they face. Comment of the value and likely use of each technique (15%)
Question 4: The following question concerns future oil and gas sources, social responsibility and climate change issues.
Identify and discuss the factors driving the continued annual growth in global energy consumption (15%)
4,000 Word Maximum!
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