Managing Upstream Oil and Gas Assets

This Managing Upstream Oil and Gas Assets course is designed to give participants comprehensive understanding of the challenges of creating and generating real value from oil and gas assets in the upstream sector of the supply chain.

Contents

Value Concept and Definitions

• Definitions of value in the upstream oil industry
• The importance of maintaining margins
• Price forecasting, scenario planning and their impact on value
• Cost; capital and operating – fixed and variable.
• Incorporating risk analysis into forward planning

Threats to Value Generation

• Price volatility
• Exploration risk and mitigation
• Exploration cost elements and control
• Synergistic value and enhancement

Establishing best value development options

• Planning and option choices
• Best Value contractual relationships
• Pitfalls – the dangers of ‘fast track’, ‘gold-plating’

Optimising Value in the Production Phase

• Review of oil, gas, and reservoir properties
• The sales contract
• Fixed and variable operating costs
• The field decline curve
• Predicting reservoir performance
• Maintaining value by additional drilling
• Surface plant optimization
• Tariff and Transportation cost elements
• Importance of HSE Issues

Putting it all together

• The Human element and organizational behaviour
• Summarising the value creation mindset
• Group discussion with delegates

For Whom:

Accountants, Auditors, Asset Managers, Directors, Lawyers, Engineers, and others who perform related functions in Oil and Gas.

Training Methodology

The training methodology combines lectures, discussions, group exercises and illustrations. Participants will gain both theoretical and practical knowledge of the topics. The emphasis is on the practical application of the topics and as a result participant will go back to the workplace with both the ability and the confidence to apply the techniques learned to their duties.