Learning Outcomes
Acquaintance of the student with the Greek legislation and regulatory framework for oil and gas exploration and exploitation permits. In this context, issues concerning the hydrocarbon discovery in Greece, the exclusive economic zones (EEZs), along with the economic, political and technical aspects related to these issues are addressed.
Course Content (Syllabus)
The course deals with the legislation and the regulatory framework for the licensing of exploration and exploitation of hydrocarbons. More specifically, the alternative processes for granting exploration and production rights for hydrocarbons in Greece, the terms of companies' participation, the evaluation criteria and the 'Competitive Points' are presented. Finally, critical economic parameters related to the exploitation of hydrocarbon deposits from the viewpoint of oil companies and the State are discussed, the basic financial analysis methods of oil investment projects, by means of deterministic and stochastic approaches, are presented, and the potential revenues as well as their allocation on the basis of the development and production plans are estimated.