training specialists to the upstream oil and gas industry

Upstream Oil and Gas Development Lifecycle Costing

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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
Capex – Facilities
Opex – Production
Project & Owner's costs
Operator's Reserve

Field Development Planning

Field development plan
Lifecycle costing
Investment profiles


Exploration Economics
Development Economics

Industry Software

Discussion on industry standard software


The oil and gas Industry

Overview of the oil and gas industry

Project lifecycle

What is the lifecycle
Project stages

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

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"Essential course by means of best practice through project lifecycle."
- Leslie Tan, EPOMS, Malaysia

Website: Studio Beam Ltd