Project Management Work Planning, Economic Evaluation & Ivestment Decision Making

Course
Length: 5 Days 

Course Course Venue:

Course Description:

Market conditions and the resulting
increased pressure to competitively deliver projects safely, on time, within
budget, and to specifications, vis-à-vis the desire for success have
necessitated the need to not only plan investment work but also evaluate and
make well informed decisions, using the right people, processes and tools.

Using a mix of empirical notes, workflows and real-life
case studies related to the Oil and Gas industry, this course will address
investment planning, evaluation and decision-making issues in a succinct, yet
logical manner.

 By the end of this course,
participants will be able to:

•       Carry out an
overview of oil and gas operation

•       Understand field
development phases

•       Assess
Pre-development workflow

•       Walk-through
capital development cost input for economic
evaluation

•      
Learn petroleum economic principles
& fiscal systems Understand uncertainty, risk and decision analyses

•       Work scenarios,
problems, case studies

Who is this Training Course for?

This
course is suitable to a wide range of professionals, including:

•       Project Directors

•       Project Engineers

•       Geoscientists

•       Project
Services/Controls Managers

•       Risk Management Engineers

•       Other Project
Management Team members

•       Operations
Managers, Superintendents and Production Engineers

 How will this Training Course be
Presented?

This course will be highly interactive. Following an introductory
session, short input sessions will be provided followed by participants being
given the opportunity to practice the lessons

learned
in the preceding topic using case studies. It’ll be in a CONCEPT – CASE STUDY –

REFLECTIONS
format.

Illustrations of evaluation and decision making, via workflows, from
the real world will be provided and participants will be encouraged to
contribute examples and illustrations from their own experiences.

The Course Content

Day One:
Fundamental Elements

•       Introductions

•       Pre-course check-in

•       Offshore oil and gas

•       Field development planning    Field development uncertainties     What is an
evaluation?

•       What is an
investment decision? Evaluation steps

•       Net present value

•       Field development
phases o Overview o Activities

•      
Pre-development assessment o The
workflow o Functions o      Scheduling and cost estimating

o    Report contents o Workshops, 2 x 10mins

•       Intro to Capital
development cost modeling

o  
Key elements

o  
Demo

•       Reflections

•       Open forum &
Day 1 Recap

Day Two:
Economic Principles, Fiscal Systems, Uncertainty, Risks & Range Analysis,
and Techniques

·        
Who is an Economist?

·        
Petroleum economic
principles

·        
Concepts & Cash flow derivation

o  
Economic indicators

o  
Value creation

·        
Petroleum fiscal
systems

·        
Royalty/Tax

·        
Production sharing contract

·        
Service contracts

·        
Uncertainty analysis

·        
Primary uncertainties over the field life

·        
Techniques:

§  Sensitivity analysis

§  Scenario analysis

§  Expected value

§  Decision trees

§  Monte Carlo simulation

§  Techniques’ comparison

§  Risk & Range Analysis

§  Reflections/Open
forum & Day 2 Recap

 Day Three: Decision Analysis and
Framing Tools

•       Decision analysis

•       What is it?

•           How?

•            
Framing tools

•            
Summing, averaging and determining economic
indicators for

•            
consolidated projects

•            
Portfolio optimization, ranking and selection

•      Additional case
studies & example problems

•            
Reflections/Open forum & Day 3 Recap

Day Four: Modeling and Case
Studies

•      Investment Cost modeling

•      Economic
Evaluation Tool demo Case studies

•            
Field Visit/Tour

Day Five: Case Studies & Wrap Up