Essential Skills for Oil and Gas Professionals (2 weeks)

Why Attend

This seminar provides the skills to build knowledge of the oil and gas industry, as well as the necessary competencies to meet the challenges currently being faced.

The Oil & Gas industry is undergoing the most significant changes that we have seen for many years with new business models, companies and sources emerging. With the international demand for petroleum products reaching record levels hit record high levels so too is the complexity facing the Oil & Gas industry.

Overview

Course Outline

Schedule & Fees

Course Methodology

N/A

Course Objectives

Build knowledge as to the nature and challenges facing the oil and gas industry
Understand the key players and commercial drivers
Examine the industry structure with specific emphasis on the ‘upstream’ component
Understand framing agreements including joint ventures and product sharing contracts
Examine the importance of effective project planning and execution

Target Audience

N/A

Target Competencies

N/A

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

Stavanger

Stavanger (Norway)2025-08-18$5975

Bali

Bali (Indonasia)2026-06-15$5975