Aupec Limited has designed a short introduction to some of the fundamental economic and financial building blocks required to model upstream exploration and production investment in a short half day workshop.  The workshop will provide presentations on how to organise an Excel based model to examine an upstream oil or gas investment.  It will examine how to deal with a number of economic issues and the modelling of common fiscal devices found in NW Europe.  The session will examine how to automate Excel models to run sensitivity analysis and larger multi-field models.



Who Should Attend?


  • Anyone who wishes to better understand the fundamental economic and financial analysis of upstream investment projects
  • Those personnel who require an introduction to modelling oil and gas taxation systems
  • Anyone who would like an introduction or refresher on using Excel to create powerful sensitivity analysis models


About the Workshop leaders:


Gerardo Arteaga graduated as an Electronics and Telecommunications engineer from the ITESM in Monterrey, Mexico. He joined the oil and gas industry as a logging engineer for the oilfield services company, Schlumberger, gaining onshore and offshore field experience with assignments in Mexico and India.


Gerardo came to the UK under a scholarship to study an MSc in Hydrocarbon Enterprise (now the MSc in Oil and Gas Enterprise Management) at the University of Aberdeen. He graduated with distinction in 2006 and joined Aupec Ltd. He now works as a Senior Petroleum Economist, giving advice to the governments of oil and gas producing countries in regulatory and tax matters. This entails plenty of travel, mostly in Africa. His role includes teaching in his old Masters and in the Agostinho Neto University in Angola.



Elena Idakwo is a Petroleum Economist with AUPEC and specialises in providing forecasts and analyses on petroleum related revenues to the governments of oil and gas producing countries. Along with this role she teaches financial modelling of petroleum projects at the University of Aberdeen.

Elena graduated with distinction in Mathematics from the Federal University of Technology Minna, Nigeria. She joined the oil industry in 2001 as a payroll/IT specialist with a joint venture of the national oil company of Nigeria, NNPC. She obtained an MSc in Oil and Gas Enterprise Management with commendation from the University of Aberdeen, and wrote a thesis on the Economics of Carbon Capture and Storage (CCS) in the UK, one of her current interests.





About Aupec:


Aupec is a global authority in energy sector economics, valuation and benchmarking. We advise on energy policies and fiscal matters, undertake economic evaluation, supply benchmarking services and provide training. Our clients include governments and oil companies around the world.














Workshop programme

12:30 Registration & Coffee

13:00 Session 1: Modelling fundamentals

14:30 Afternoon Tea

15:00 Session 2: Automating your Model

16:00 Close of Workshop


Crowne Plaza Hotel - St James

Buckingham Gate 45/51
London SW1E 6AF
United Kingdom

Crowne Plaza Hotel - St James



speaker image






CPD stands for Continuing Professional Development’. It is essentially a philosophy, which maintains that in order to be effective, learning should be organised and structured. The most common definition is:

‘A commitment to structured skills and knowledge enhancement for Personal or Professional competence’

CPD is a common requirement of individual membership with professional bodies and Institutes. Increasingly, employers also expect their staff to undertake regular CPD activities.

Undertaken over a period of time, CPD ensures that educational qualifications do not become obsolete, and allows for best practice and professional standards to be upheld.

CPD can be undertaken through a variety of learning activities including instructor led training courses, seminars and conferences, e:learning modules or structured reading.


There are approximately 470 institutes in the UK across all industry sectors, with a collective membership of circa 4 million professionals, and they all expect their members to undertake CPD.

For some institutes undertaking CPD is mandatory e.g. accountancy and law, and linked to a licence to practice, for others it’s obligatory. By ensuring that their members undertake CPD, the professional bodies seek to ensure that professional standards, legislative awareness and ethical practices are maintained.

CPD Schemes often run over the period of a year and the institutes generally provide online tools for their members to record and reflect on their CPD activities.


Professional bodies and Institutes CPD schemes are either structured as ‘Input’ or ‘Output’ based.

‘Input’ based schemes list a precise number of CPD hours that individuals must achieve within a given time period. These schemes can also use different ‘currencies’ such as points, merits, units or credits, where an individual must accumulate the number required. These currencies are usually based on time i.e. 1 CPD point = 1 hour of learning.

‘Output’ based schemes are learner centred. They require individuals to set learning goals that align to professional competencies, or personal development objectives. These schemes also list different ways to achieve the learning goals e.g. training courses, seminars or e:learning, which enables an individual to complete their CPD through their preferred mode of learning.

The majority of Input and Output based schemes actively encourage individuals to seek appropriate CPD activities independently.

As a formal provider of CPD certified activities, SMI Group can provide an indication of the learning benefit gained and the typical completion. However, it is ultimately the responsibility of the delegate to evaluate their learning, and record it correctly in line with their professional body’s or employers requirements.


Increasingly, international and emerging markets are ‘professionalising’ their workforces and looking to the UK to benchmark educational standards. The undertaking of CPD is now increasingly expected of any individual employed within today’s global marketplace.

CPD Certificates

We can provide a certificate for all our accredited events. To request a CPD certificate for a conference , workshop, master classes you have attended please email events@smi-online.co.uk

Event Title


Read More

I would like to speak at an event

I would like to attend an event

I would like to sponsor/exhibit at an event


Sign up
Forgotten Password?


UK Office
Opening Hours: 9.00 - 17.30 (local time)
SMi Group Ltd, 1 Westminster Bridge Road, London, SE1 7XW, United Kingdom
Tel: +44 (0) 20 7827 6000 Fax: +44 (0) 20 7827 6001
Website: http://www.smi-online.co.uk Email: events@smi-online.co.uk
Registered in England No: 3779287 VAT No: GB 976 2951 71

Forgotten Password

Please enter the email address you registered with. We will email you a new password.

Thank you for visiting our event

If you would like to receive further information about our events, please fill out the information below.

By ticking above you are consenting to receive information by email from SMi.
Full details of our privacy policy can be found here https://www.smi-online.co.uk/privacy-legals/privacy-policy/.
Should you wish to update your contact preferences at any time you can contact us at data@smi-online.co.uk.
Should you wish to be removed from any future mailing lists please click on the following link http://www.smi-online.co.uk/opt-out