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Fundamentals of Oil & Gas Management
Week 1
Design Research
4 videos, 1 reading
Video: The Interaction Design Specialization
20 m
Video: Introducing Elizabeth Gerber
40 m
Video: Who, What, Where, When and How People Work
35 m
Video: Michael Chapman of IDEO on Interviewing
20 m
Reading: Slides
30 m
Graded: Final Quiz: Design Research
5 Questions
Week 2
Ideation
2 videos
Video: The Interaction Design Specialization
20 m
Video: Introducing Elizabeth Gerber
40 m
Graded: Cumulative Quiz
4 Questions
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Fundamentals of Oil & Gas Management

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Fundamentals of Oil & Gas Management

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About this course

Introduction

We bring you this three-day workshop which provides a detailed review of the nature and management of the upstream oil and gas sector, including both technical and business aspects of the operation of the industry in practice. The course is taught by industry expert and based on presentation led discussion, including many examples from the extensive individual experience of the instructor(s) and benefits from the interactive participation of the attendees. The program includes active discussion of challenges currently faced by the industry and hands-on use of computer based evaluation tools. In addition, participants are provided with information to assist them in researching the specific approaches adopted by some of the major industry participants.

This course steers participants through the technical considerations relevant to each of the stages of the upstream oil & gas life cycle with explanation of the techniques typically applied in each area by a wide range of discipline experts. The potential risks and challenges to successful development and delivery are addressed along with an appraisal of how the technical effort is converted into value realisation for the investors in the industry. There is also a detailed examination of the range of different participants within the industry and the regulatory frameworks which underpin it across the globe.

This course is ideal for individuals who are new to the oil and gas industry or to those who have extensive discipline knowledge in one area but lack a broader appreciation of the overall industry context. It is also ideal for those intending to provide consultancy and other specialist services to the industry as familiarity with industry techniques and terminology acquired through this course will provide a level of credibility in engaging with participants within the industry.

Presented by experienced instructors with oil & gas business management experience, this programme gives participants the benefit of decades of hands on industry experience. The workshop style of this course ensures delegates have the opportunity to ask questions, receiving thorough answers to their individual questions from the presenters’ past experiences. Our instructors provide real-world examples, including the experience of dealing with surprises in the course of oil & gas project delivery.

This course answers questions such as:

  • How is oil & gas formed and how do we find and exploit it?
  • What are the techniques employed in oil & gas development and production?
  • How do you sustain production over time and when is it time to stop?
  • What is required at the end of the oil & gas production lifecycle?
  • What participants are involved in the industry and what do they all do?
  • What type of commercial arrangements are in place between these participants?
  • What are the main regulatory regimes governing licencing and taxation?
  • What types of agreements provide private entities with rights to exploit oil & gas resources?
  • How do investors in the industry select opportunities for appraisal and development?
  • How are risks identified and managed by the investors in the industry?
  • How do oil & gas companies realise value from investment and manage performance outcomes?

Topics

Hydrocarbon Resources and Development

  • Hydrocarbon resource exploitation
    • Oil & gas formation and accumulation
    • Finding oil & gas deposits
    • Assessing oil & gas volumes
    • Drilling for oil & gas
    • Producing oil & gas
  • Optimising oil & gas recovery
    • Conventional tertiary recovery
    • Pressure support optimisation
    • Multi-lateral wells and slot recovery
  • Non-conventional resource exploitation
    • Tar sands development
    • Ultra heavy oil synthetic flow
    • Shale oil & gas development
    • Hydraulic fracturing
  • New horizons for resource exploitation
    • Ultra deep water development
    • Arctic potential and delivery
    • Liquid methane resource

Industry Participants and Relationships

  • Industry participants and roles
    • Investing and operating
    • Provision of services
    • Regulatory and governing bodies
    • Other relevant participants
  • Industry contracting
    • Contracting principles and considerations
    • Conventional contracting
    • Incentivisation mechanisms
    • Alliancing arrangements
  • Oil and gas licencing and tax regimes
    • Concession regimes
    • Joint venture regimes
    • Risk service contracts
    • Production sharing regimes
  • Tax mechanisms
    • Signature bonuses
    • Royalties
    • Production taxes
    • Corporation/income taxes
    • Integrated tax systems

Value Generation and Investment

  • Oil & gas markets
  • Energy consumption trends and forecasts
  • Demand and remaining reserves
  • Distribution of oil & gas
  • Value realisation
    • Oil sources of value
    • Gas sources of value
    • Geopolitical implications
  • Petroleum economics
    • Simple appraisal concepts & techniques
    • Time value of money and discounting
    • NPV, IRR and capital ranking
    • Integrated economic analysis

Performance and Risk Management

  • Integrated approach to performance
    • Strategy, planning and performance monitoring
    • Balanced approach to performance management
    • Industry performance measures
  • Opportunity risk analysis
    • Evaluating technical risk
    • Evaluating economic risk
    • Evaluating commercial risk
    • Evaluating operational risk
    • Evaluating political risk
  • Risk evaluation and management techniques
    • Risk identification approach
    • Structured risk assessment
    • Statistical risk assessment (monte carlo)
    • Risk management and mitigation

Decommissioning

  • Context for decommissioning
    • Regulatory framework
    • Industry trends and costs
    • Financing of decommissioning
  • Decommissioning techniques
    • Well plugging and abandonment
    • Facility removal
    • Disposal of material
    • Practical experience of decommissioning

Teaching method

  • Group live instruction in an interactive workshop format, using examples, open discussions etc. to support the basic instruction across a wide range of discipline areas
  • Review of the nature of the international upstream oil & gas industry from a practical perspective drawing upon the extensive industry experience of the presenter(s)
  • Use of real-world examples to illustrate what happens in practice and the impact of surprises
  • Some use of practical examples to give participants hands on experience of applying techniques
  • Interactive participation will be encouraged
  • All participants receive a comprehensive binder containing copies of the presentation slides, handouts and other course materials (examples, illustrations etc.)

Course benefits

  • Understand the dynamics of the international oil & gas industry, its history, its current challenges and its future direction
  • Have a competent basic level of knowledge in the techniques employed throughout the upstream oil & gas industry from access and exploration to decommissioning
  • Appreciate the objectives and functions of the range of different companies and organisations engaged in the upstream oil & gas industry and related supply chain
  • Be able to assess the benefits of different forms of commercial relationships between industry participants and the factors driving these
  • Evaluate the full range of risks associated with the upstream oil & gas industry across the life cycle of a development and/or life cycle of a basin
  • Assess the effectiveness of different approaches to investment appraisal and the performance management of oil & gas activities
  • Critically analyse the broad principles and practical implementation of petroleum licencing and taxation regimes in different regions of the world
  • Participants will acquire a basic knowledge of the broad range of concepts and issues relevant to the industry providing them with a level of credibility in engaging with industry participants

Who should attend?

  • Specialists within the oil and gas industry seeking a broader appreciation
  • New recruits into graduate training programmes seeking a good overview
  • Internal and external auditors of oil and gas companies and other consultants providing specialist services and advice to oil & gas industry participants
  • Staff of the regulatory and tax agencies within developing oil & gas regimes