Reservoir Engineering and Petroleum Economics

This module introduces the fundamentals of reservoir engineering and presents selected economic concepts related to petroleum costing and management. It is intended that during this module, students will build a comprehensive reservoir engineering background and then apply skills learnt to the analysis and costing of selected petroleum production projects.

Reservoir engineering topics include rock and fluid properties, phase diagrams related to reservoir classification, reserves estimation, recovery processes and flow in porous media. Economic topics focus on the time value of money, profit and cost analysis, profitability indicators and economic objectives influencing evluation decisions. Understanding these fundamental topics will allow students to acquire the necessary skills required for future petroleum-based modules as well as the Petroleum Engineering Design Project which will be taken in the following year.

Professional development planning will also be undertaken where students will prepare personal curriculum vitae and relevant job application material.