Project Management, Economics & Regulatory

The Economic Limit (also known as the economic cutoff rate or economic limit rate) is the minimum production rate at which the revenue generated from…

An Environmental Impact Assessment (EIA) is a systematic, documented process used to identify, predict, evaluate, and mitigate the potential environmental effects of a proposed oil…

A Farm-In / Farm-Out agreement is a contractual arrangement in the oil and gas industry where the owner of a working interest in an oil…

A Feasibility Study in the oil and gas industry is a comprehensive, multi-disciplinary evaluation conducted during the early stages of a project lifecycle. Its primary…

Inflation Adjustment is a financial and project management mechanism used to account for changes in the general price level of goods and services over time.…

The Internal Rate of Return (IRR) is a core financial metric used in capital budgeting and project economics within the oil and gas industry. It…

A Joint Venture Agreement (JVA) in the oil and gas industry is a legally binding contract between two or more companies that agree to pool…

Net Present Value (NPV) is a financial metric used to evaluate the profitability of an investment or project by calculating the difference between the present…

The Payback Period is a fundamental financial metric used in capital budgeting to determine the length of time required for an investment to generate enough…

Permitting in the oil and gas industry is the official process of obtaining legal approval from government agencies and regulatory bodies to carry out specific…

A Production Sharing Contract (PSC) is a contractual agreement between a host government (or its national oil company) and an international oil company (IOC) governing…

Regulatory compliance in the oil and gas industry refers to the process of adhering to all applicable laws, regulations, standards, and guidelines set by government…