Classroom session
10-14 Nov 2025
Dubai, UAE
Classroom session
19-23 May 2025
Amsterdam, NL
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19-23 May 2025
Amsterdam, Netherlands
10-14 Nov 2025
Dubai, UAE
Course Summary: Navigating Petroleum Upstream Fiscal Systems
Day 1 | Energy Transition
General course overview of Energy Transition.
The world is at a crossroads when it comes to energy. The ongoing energy transition is reshaping the way we power our lives and industries. In day 1, we will provide you with a comprehensive overview of what this energy transition entails.
Understanding the Energy Transition
The energy transition is a global shift from conventional fossil fuels to more sustainable and environmentally friendly sources of energy. This transformation is driven by the need to reduce greenhouse gas emissions, combat climate change, and secure our energy future.
Drivers of Change
Renewable energy is at the forefront of this transition. Solar and wind energy have seen significant developments in recent years. Let's delve into the current costs of solar and wind energy.
Renewable Energy Developments
Current costs of solar and wind energy.
The costs of solar and wind energy have been steadily declining, making them more accessible and affordable. This has accelerated their adoption worldwide.
Anticipated developments in solar and wind energy.
The future of solar and wind energy looks promising. Advancements in technology and increased investment are expected to drive further cost reductions and efficiency improvements.
Diversifying Renewable Sources
Apart from solar and wind, hydropower, geothermal energy, biomass, and biofuels also play a crucial role in the energy transition.
Range of estimates for the role of renewables in energy production.
The energy landscape is shifting towards renewables. Estimates vary, but many experts predict that renewables could account for a significant portion of global energy production.
Energy Storage
Various energy storage methods and their economics.
Energy storage is a critical aspect of the energy transition. We will explore the various methods and their economic viability.
Trends in battery storage costs.
Batteries are central to energy storage, and their costs have been steadily decreasing, further bolstering renewable energy integration.
Impact of storage costs on electricity production and transport.
Affordable storage solutions are essential for the reliability and scalability of renewable energy in electricity production and electric transport.
Hydrogen
Different types of hydrogen: grey, blue, and green.
Hydrogen has emerged as a versatile energy carrier. We'll discuss the different types of hydrogen and their significance.
Costs of hydrogen production.
The cost of producing hydrogen varies depending on the method and type. We'll break down the economics.
Green hydrogen production methods.
Green hydrogen is produced using renewable energy. We'll explore the methods involved and their sustainability.
Various applications of green hydrogen.
Green hydrogen finds applications in sectors like transportation and industry. We'll delve into its potential uses.
Carbon Capture and Storage
Various carbon capture and storage measures.
Capturing and storing carbon emissions is crucial in the fight against climate change. We'll examine various approaches.
BioEnergy Carbon Capture and Storage (BECCS), biochar, and Direct Air Capture (DAC).
Innovative technologies like BECCS, biochar, and DAC are helping us capture and store carbon effectively.
Misconceptions about future energy.
There are common misconceptions about the future of energy. We'll address these and provide clarity.
Day 2 | Energy Transition
Worldwide Future Trends
Anticipated world and petroleum industry developments.
The global energy landscape is constantly evolving. We'll look at the expected developments and their implications.
Long-term fiscal trends.
Fiscal trends play a significant role in shaping energy policies. We'll explore how financial factors impact the energy transition.
Climate Change and Net Zero goals.
The energy transition is closely tied to climate change and the ambitious goal of achieving net-zero emissions. We'll discuss the connection.
Forecasts of Energy, Oil, and Gas Developments by 2050.
What does the future hold for the energy, oil, and gas industries? We'll provide forecasts for 2050.
Energy Transition Process, government's role, and industry restructuring.
Governments and industries must work together to navigate the energy transition. We'll examine their roles and the restructuring of the energy sector.
Day 3 | Oil & Gas Fiscal Systems
Introduction to fiscal systems and profitability indicators.
Fiscal systems are the financial frameworks that govern the oil and gas industry. We'll introduce you to these systems and their profitability indicators.
Royalties, bonuses, rentals, and corporate income tax.
These financial elements are vital in oil and gas operations. We'll explain how they work.
Deductions, depreciation methods, and tax credits.
Understanding deductions, depreciation methods, and tax credits is crucial for assessing profitability.
Overview of various fiscal systems, including Production Sharing.
Different fiscal systems are employed worldwide. We'll provide an overview, including Production Sharing Agreements.
Day 4 | Oil & Gas Fiscal Systems
Production Sharing, Joint Ventures, Carried Interest, and Progressive Taxes.
These are complex but critical aspects of oil and gas fiscal systems. We'll break them down for you.
Flexible Gross Revenue Splits, General Taxes, and Duties.
We'll delve into gross revenue splits, general taxes, and duties, which affect the financial dynamics of the industry.
Service contracts, Profit Sharing Contracts, and Abandonment.
These contractual arrangements impact the profitability of oil and gas ventures. We'll explore how they work.
Analysis of fiscal systems and their classification.
We'll analyse fiscal systems and classify them based on legal and economic factors.
Day 5 | Oil & Gas Fiscal Systems
Incremental and differential analysis.
We'll explain the incremental and differential analysis methods used in assessing the fiscal systems.
Country-specific reviews of fiscal systems and government take.
Different countries have varying fiscal systems. We'll review some of these systems and their implications for government revenue.
Fiscal policies and future terms in the energy transition.
Fiscal policies are evolving to support the energy transition. We'll discuss the changing landscape and future terms.
Conclusion
This course has delved into the intricacies of renewable energy, hydrogen production, carbon capture, and the oil and gas industry's fiscal systems, offering a comprehensive understanding of the energy transition and fiscal landscape.
Meet your trainer
Your expert course leader has provided petroleum consulting services for 48 years in or with respect to 80 countries around the world. He has been involved in developing oil and gas legislation and regulations and serving as a key economic advisor for dozens of these countries, including Bangladesh, Bolivia, Canada, China, Gabon, Kuwait, Mexico, Nigeria, Pakistan, Thailand, Trinidad and Tobago, and the United States (Alaska). He has advised corporations, such as China’s CNOOC and the Kuwait Oil Company with regard to determining fiscal terms for oil and gas fields. He developed PETROCASH, which is the most comprehensive integrated database and computer model for World Fiscal Systems for Oil & Gas. The database involves the attractiveness rating of more than 850 fiscal systems of 163 countries and territories, rated by government take and profitability indicators. He published two books on petroleum economics. Additionally, he has hosted the World Fiscal Systems for Oil & Gas course and participated in training seminars for governments and companies in more than 35 countries for the last 40 years.

No Virtual Sessions
This course is not available virtually.
You might be interested in the virtual session of our "World Fiscal Systems for Oil & Gas" course.
Classroom Sessions
All our classroom sessions are now resumed and courses are held in different cities around the world.
Kindly refer to our 2025 Calendar for dates & locations
US$
3,900
You can either attend both modules for 3,900 US$ or only:
> Module 1: Energy Transition 1,900 US$
> Module 2: World Fiscal Systems for Oil & Gas 2,000 US$
The course was excellent and very useful for getting a global picture of fiscal regimes around the world.
Dr Pedro's knowledge is impressive as well as his experience
Renato Noboa
Economist

The course was very good. Dr Pedro has a huge knowledge to share with the audience
Erica Nascimento
Treasury and JV Coordinator

Very very good! Level of detail, depth and breath of knowledge and ability in answering questions surpassed expectations
Tyler Manchester
Economist

We are pleased to offer all our courses as fully customisable In-House training programs, designed to meet your specific needs. Whether you prefer the course to be conducted at your office or any location of your choice, we are here to make it seamless for you. Email us at j.rogus@londonpetroacademy.co.uk to discuss further.
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