ULMS Electronic Module Catalogue

The information contained in this module specification was correct at the time of publication but may be subject to change, either during the session because of unforeseen circumstances, or following review of the module at the end of the session. Queries about the module should be directed to the member of staff with responsibility for the module.
Title Oil and Gas Management
Code KMGT713
Coordinator Dr M Tickle
Operations and Supply Chain Management
M.Tickle@liverpool.ac.uk
Year CATS Level Semester CATS Value
Session 2022-23 Level 7 FHEQ Whole Session 15

Pre-requisites before taking this module (other modules and/or general educational/academic requirements):

 

Modules for which this module is a pre-requisite:

 

Programme(s) (including Year of Study) to which this module is available on a required basis:

 

Programme(s) (including Year of Study) to which this module is available on an optional basis:

 

Teaching Schedule

  Lectures Seminars Tutorials Lab Practicals Fieldwork Placement Other TOTAL
Study Hours             0
Timetable (if known)              
Private Study 150
TOTAL HOURS 150

Assessment

EXAM Duration Timing
(Semester)
% of
final
mark
Resit/resubmission
opportunity
Penalty for late
submission
Notes
             
CONTINUOUS Duration Timing
(Semester)
% of
final
mark
Resit/resubmission
opportunity
Penalty for late
submission
Notes
Assessment 1 Standard UoL penalty applies for late submission. Assessment Schedule (When) :Whole Session    35       
Assessment 2 Standard UoL penalty applies for late submission. Assessment Schedule (When) :Whole session    25       
Assessment 3 Standard UoL penalty applies for late submission. Assessment Schedule (When) :Whole Session    30       
Assessment 4 Standard UoL penalty applies for late submission. Assessment Schedule (When) :Whole session    10       

Aims

To introduce students to the economic principles, concepts and practices associated with international petroleum and other energy markets;

To develop students’ understanding of the energy industry in particular the analysis tools that facilitate a grounded understanding of the various sources of energy;

To introduce other related topics such as product stream forecasting, risk and uncertainty, capital budgeting and the economic analysis of operations.


Learning Outcomes

(LO1) Understand the economic concepts, tools, definitions and acceptable practices of international energy markets;

(LO2) Demonstrate the ability to analyse economic markets and apply decision-making tools to add value to the energy industry;

(LO3) Understand the background of the energy industry (in particular the oil and gas industries) in functioning as an economic entity within the global business community.

(S1) Communication Skills: Students will have opportunities to develop written communication skills through group discussions and assignments;

(S2) Problem Solving and Decision Making: Students will be challenged to think critically about organisational issues and dilemmas. They will do this by gathering and synthesising information, analysing alternative perspectives and options and presenting a considered opinion or programme of action in their course assessment;

(S3) Information and Communication Technology Skills: Students will have opportunities to improve their ICT skills. Students will demonstrate skills in the use of software applications including word processing, visual presentations, data bases, spreadsheets and using the internet for information searches in the course;

(S4) Time management. This involves planning scheduled work and meeting assessment deadlines. This will be evident in the students’ independent management of their assignments and coursework and by meeting coursework deadlines.


Teaching and Learning Strategies

Teaching Method 1 - Online Discussions
Description: virtual classroom attendance 7 hours
Notes: Number of hours per week, per student expected for reading, research and other individual work to support engagement in the classroom is 9


Syllabus

 

The Oil and Gas Supply Chain: The oil and gas industry as a special supply chain; Characterization, differentiating features; Differences between manufacturing and process industries, eg continuous production; Concepts used in upstream oil and gas projects.

Introduction to oil and gas exploration methods: How to locate oil and gas resources; basic geological methods; Classification of resources and reserves; differences between resources and reserves.

Upstream petroleum fiscal system analysis and design: Contract negotiations; licensing and concessionary systems; Production sharing contract fiscal regimes; Service contracts and typology;
Accounting principles; estimating reserve viability; Taxation, how does this affect profitability, viability of the resource; Abandonment/closure of production sources, who pays for this; Threshold field size analysis; market for exploration acreage; International exploration economics and risk analysis.

Midstream petroleum fi scal system: Petrochemical plants and refineries; inventories, operational uncertainties and how to respond; Characteristics and requirements of engineering and construction projects for oil and gas processing; Investment decision criteria; project viability and risk analysis; Legal structure and documentation; Credit ratings and project evaluation; Ownership and financing configuration; alternative funding sources; Demand and supply of contracting markets; Alternative contracting strategies; Operational issues.

Project management systems for oil and gas: Oil and gas project portfolios – role of oil and gas projects as part of a larger project portfolio in an organisation; Project lifecycle analysis; Work breakdown structures; Task responsibility matrices; Scheduling techniques and challenges; Risk appraisal and management; Stakeholder identification/ management; Project monitoring and control; project review; Analytical tools.


Recommended Texts

Reading lists are managed at readinglists.liverpool.ac.uk. Click here to access the reading lists for this module.