This engaging four-day course provides a holistic view of cost forecasting for delegates to understand “where the money goes” in the Oil and Gas sector. It provides knowledge on costing of long life capital-intensive developments that is often associated with uncertain and incomplete information, evolving technology, remote environments and political instability. Facilitators will use costing exercises for delegates to receive hands-on experience on a cost of all phases from an acquisition, study, and exploration, through to production operations and decommissioning.
Who Should Attend
• Upstream oil and gas industry professionals, managers and discipline experts, who need to gain a deeper understanding of upstream lifecycle costing
• Persons involved in industry oversight, from regulators, government agencies, non-governmental organisations (NGOs), charities, special interest and campaigning groups that need to better understand the cost constraints under which oil companies operate
• Early career professionals wishing to advance their understanding of upstream oil and gas costing and economics issues
Learning Objectives
• Better collaborate with multidisciplinary teams on field development planning tasks leading to investment decisions
• Give a comprehensive overview of the nature and magnitude of exploration, development, production and decommissioning costs
• Explain how to express lifecycle costings in cash flow and economic models
• Describe the challenges of upstream lifecycle costing, and dealing with uncertain and incomplete information
Course Content
• Upstream Oil & Gas Lifecycle Costing
• Upstream Oil and Gas Lifecycle Cost Components
• Field Development Planning
• The Wider Context
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