Petroleum Engineering and Economics

Petroleum engineering is an area of engineering concerned with the processes that enable the development and extraction of crude oil and natural gas fields, as well as the technical study, computer modelling, and prediction of future production performance. Petroleum engineering is concerned with determining a field's reserves, petroleum distribution within the reservoir, and the most efficient method of producing it.

The entire oil/gas generating sector is driven by economics. Almost every decision is made based on a cost-benefit analysis. For publicly traded corporations, economic evaluations are also done to estimate reserves and the "standardized measure of worth" for reporting purposes. Petroleum economics entails the use of economic analysis tools at all stages of the development of oil and gas exploration and production projects.

• Petroleum Geology
• Petrophysics
• Petroleum Chemistry
• Petroleum Reservoir
• Petroleum Production, Storage and Transport
• Data Collection and Analysis
• Recent Advancement in Petroleum Industry