Upstream Oil and Gas Development Lifecycle Costing
Course overview
This course provides an overview the lifecycle of oil and gas projects including the stages of development from rank exploration to production and the associated costs involved at each stage of the development. We will explore the information available at each stage and the impact the accuracy of the cost estimates. We will explore how the investment profile is developed and how costs are built with information that may be incomplete or non-existent for the use in exploration economics which allows decisions to be made as to whether to explore a potential prospect and development economics which allows decisions to be made as to whether to progress through the stages of a development up to and including Final Investment Decision (FID).
An emphasis on the nomenclature and terminology will be clearly defined to demystify the industry.
The course is designed for
- Professionals who need to understand the costs involved in upstream oil and gas developments
- Personnel involved in field development planning
- E&P management
- Technical support staff
- Technical staff who want to expand their understanding of the industry
Course outline
Cost Estimate Components
Exploration and appraisal
Drillex
Capex – Facilities
Opex – Production
Abex
Project & Owner's costs
Contingency
Operator's Reserve
Field Development Planning
Field development plan
Lifecycle costing
Scheduling
Investment profiles
Economics
Exploration Economics
Development Economics
Industry Software
Discussion on industry standard software
The oil and gas Industry
Overview of the oil and gas industry
Onshore
Offshore
Unconventionals
Project lifecycle
What is the lifecycle
Project stages
Exploration
Appraisal
Development
Production
Abandonment
Cost Estimating
Estimating methodology overview
Cost fluctuations and forecasting
Types of estimating
Cost estimate levels
Cost accuracy
| Location | Start Date | End Date | Cost | Trainer | Book |
| Upon request | £2,950 | Geof Boyd | Make enquiry |
"Essential course by means of best practice through project lifecycle."
- Leslie Tan, EPOMS, Malaysia
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