This course provides an in-depth study of the details and dynamics of petroleum fiscal system analysis and design in the context of an increasingly competitive global marketplace. The course provides the basics, new analytical techniques, theory as well as established practices worldwide. Focusing on the factors that drive exploration economics: risk/reward, capital requirements, terminology this is an excellent basis for understanding development and production economics from both industry and government points of view, with a complete understanding of the dilemmas and concerns of both sides. Legal and operational aspects of contract/fiscal terms are also examined to provide a foundation in the dynamics of international negotiations.
The course is designed for those interested in petroleum taxation, international negotiations, and the finer points of economic modeling in the international arena, addressing both its timeless and evolutionary aspects in terminology, and is designed to clarify the language of negotiations and fiscal system design.