This training course will provide the key learning points to improve the efficiency of the oil and gas production business. The Oil and Gas industry has a very important role in the global economy and is the main source of income for many governments. The Oil and Gas industry is characterized as capital-intensive, highly risk, and requires state-of-the-art technology.
With the current crisis in energy worldwide, challenges related to climate change, alternative energies, and energy substitutions, there is a bad need to improve the efficiency of the oil and gas projects by professionals who have a wide-ranging and extensive understanding of the Oil and Gas industry, including economics evaluation and decision-making skills.
This Managing Oil & Gas Production Business training course will highlight:
Upstream Oil and Gas Life Cycle
Cost Management in oil and Gas Projects
Petroleum Economics
Oil and Gas Production Contracts
Decision Making in the Oil and Gas Industry
What are the goals?
At the end of this Managing Oil & Gas Production Business training course, you will learn to:
Understand the value chain of the oil and gas industry.
Understand how to operate efficiently your oil and gas fields
Understand the upstream petroleum economy.
Evaluate the different opportunities and make effective decisions related to Oil and Gas operations
Understand the different oil and gas production contracts and the effect of them on operations
Who is this training course for?
This training course is suitable for a wide range of professionals but will greatly benefit:
Managers and Government Officials
Petroleum economists
Businessmen and financiers
Reservoir and Production Engineers
Energy industry journalists and reporters
Planning and Development Analysts/Executives
Commercial Analysts/Executive/Managers
Course Outline
Day One: Oil and Gas Industry Value Chain
Characteristics of upstream oil and gas business
Phases of upstream oil and gas operations
Challenges in upstream operations
Oil & gas reserves, production, consumption & trade
The role of the integrated professional team in managing the business
Day Two: Petroleum Economics
Net cash flow: Definitions, gross revenue, capital costs, operating costs, abandonment costs, and government take
Economic life reserves, abandonment
Profit income tax and loss carry forward
Sunk costs
Inflation
Economic indicators, NPV, IRR, CPI, and payout time.
Day Three: Petroleum Contracts
Principal licensing and contractual arrangements
The modern concession contracts
The production sharing contracts
Participation agreements and joint operation agreements (JOA)
Service contracts, pure service contracts, risk service contracts
Financing in the international oil & gas industry
Comparative analysis of the different contract forms
Day Four: Decision-Making in the Oil and Gas Industry
Decision tree analysis
Value of information
Exploration drilling decisions
Production decisions
Making management decisions under conditions of certainty
Day Five: Risk Analysis
Uncertainty in oil and gas projects
Risk-free return
Risk of the proposed project
Treatment of risks in project appraisal
Sensitivity analysis
Portfolio analysis
Hedging – risk management
The certificate
Coventry Academy Certificate of Completion for delegates who attend and complete the training course