Economic Decision Tools

This skill module addresses the need for economic evaluation criteria for petroleum projects. How can one project be compared to another when the projects are in different regions or offshore vs. onshore or gas vs. oil? In the purest sense, economic evaluations are independent of the details of a project and focus on the particular economic inputs such as capital investment needed, operational expenses, royalty rates and, ultimately, the economic outcomes using comparative economic metrics to evaluate projects and make decisions.