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 PET-515 & PET 605 PETROLEUM ECONOMICS & STATISTICS

  • PRINCIPLES OF ECONOMICS: (Supply and Demand, Price theory, Consumer Behavior, Cost analysis, Time Value in Capital).
  • PETROLEUM ECONOMICS: (Oilfield project evaluation such as exploration, drilling, and production operations. The estimator of oil reserves and assessment of oil property).
  • SIMPLE LAW OF PROBABILITY AND PROBABILITY DISTRIBUTION: ( Binomial, Poisson, Normal, log Normal their properties and characterization. Volumetric Probability Distribution.
  • PRICING TRENDS FOR OIL AND GAS: Alternative in oil transportation,  Risk, Uncertainty and Decision Analysis in Petroleum exploration and engineering.
  • CLASSIFICATION OF GEOLOGICAL DATA: (Graphical presentation of data, Measures of Central Tendency and Dispersion, Construction of data using Moments)
  • STATISTICAL DATA ANA

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