Essential Skills for Oil and Gas Professionals (2 weeks)

Day One: The Oil and Gas industry overview

• The nature of the Oil and Gas industry
• Who are the key players?
• Strategic challenges and opportunities facing the industry
• Structures and business models
• Case study review

Day Two: Commercial drivers

• Upstream, midstream and downstream operations
• Exploration, evaluation and production
• Lifting and production costs
• Reserve estimates
• Case study review

Day Three: Oil and Gas exploration and production arrangements

• Framing agreements
• Joint ventures
• Product sharing agreements
• Implications and challenges
• Joint operating agreement review

Day Four: Capital project planning and execution

• Importance of project planning
• Front end loading
• Hot spots and challenges
• Creating and protecting value
• Implementing effective project control framework

Day Five: Risk management application

• What is risk management and why it is important?
• Risk management as applied to capital projects.
• Specifying objectives and identifying project uncertainties
• Technical and non-technical risks
• Risk register review and analysis
• Stakeholder identification and mapping

Day Six: Project economics

• Evaluating opportunities
• Discounting and non-discounting methods
• NPV, IRR
• Discount rates
• Case study application and review

Day Seven: Cost & estimation

• What is a cost estimate?
• What factors influence an estimate?
• Determining contingencies
• Probabilistic models
• Monte Carlo simulation
• Challenges and areas for improvement

Day Eight: Capital contracting issues

• Managing the oil and Gas spend
• Understanding the market
• Developing the appropriate contracting strategy
• Reward structures and options
• Contract award and the importance of contract management
• Case study application and review

Day Nine: Measuring and reporting performance

• External and internal reporting
• Identifying report user requirements
• KPIs
• Measuring and reporting project performance
• Earned value management analysis and reporting

Day Ten: Oil and Gas Capstone case study

• A case study dilemma
• Key learnings
• Summary and course wrap up