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Seminars

Petroleum Project Economics & Risk Management



Introduction:


This course for project managers, project engineers, and integrated project team discipline members addresses the key areas associated with capital project risk management. The course focuses on managing risk throughout the entire project life cycle. This course is very much hands-on with class exercise case studies that focus on participant development of risk management deliverables. The class also addresses the methods that project team leaders can utilize to ensure that project team members and management buy in and are part of the risk management process.

Course Objectives:


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

 

  • Apply economic and risk management evaluation tools for oil and gas project proposals
  • Identify and quantify key uncertainties during field development and full life-cycle economics
  • Calculate the economic and financial viability of expenditure proposals projects under risk conditions
  • Develop a structured approach to measuring, managing and combating commercial risk
  • Assess the ranking of alternative projects
  • Prepare credible project proposals with a view to winning management, partner and government approval
  • Improve project and business outcomes

Who Should Attend?


Project Managers, Project Engineers, and all disciplines that work on integrated project teams for upstream onshore and offshore developments. Construction Engineers, Senior Construction Engineers, Construction Supervisors, Construction General Supervisors, Construction Project Managers, Engineering Technologists, Supervision Engineer, Inspection Engineers, Civil Inspectors, Foremen, Design Structural Engineers, Planners, Structural Engineers, Material Specialists, Quality Control and Quality Assurance Experts, Architects, Supervision Engineers, Team Leaders, Site Officers and Managers, Mechanical Engineers, Technical Professionals, Field Production Supervisor, Operation Engineers, Clients Representatives, Team Leaders, Supervisors, Section Heads and Managers, Professionals who have an interest in a management position, anyone who wants to become a leader in their work role, Project, Purchasing, Finance & Production Officers and personnel, technical professionals including those in Maintenance, Engineering & Production, Secretaries, clerks, administrative and support staff, Risk Managers and those with specific risk responsibilities, Project sponsors and managers, Purchasing and procurement managers who will be supporting projects, Contractors and consultants contributing to projects, Operational staff who need to interface with projects or represent the operational perspective on a project, HSE staff interfacing with project activities, Governance and auditors who will be reviewing or auditing project performance, Anyone who needs to contribute to managing risk

Course Outline:


Basic Concepts

  • Identifying project cash flows and sources of information

 

How to Calculate Project Benefits and Interpret the Answer

  • Project payback
  • Net present value (NPV)
  • Internal rate of return (IRR) and the cost of capital
  • Profitability index (PI)
  • Strengths and limitations of each method

 

Project Ranking: How to Choose the Best Alternative

  • How to optimize expenditure

 

How to Deal with Inflation and with Exchange Rates

 

Taking Account of Taxation

 

Accounting Measures vs. Economic Measures

  • Understanding other financial criteria for decision making
  • Balancing short term versus long term business objectives

 

Dealing with Risk and Uncertainty

  • How to identify and quantify project risks and uncertainties
  • Sensitivity analysis
  • How to draw and interpret spider and tornado diagrams
  • Calculation of maximum exposure as a risk measure
  • Decision trees and the calculation of expected monetary value (EMV)

 

Economics, Risk and Decisions - Decision Points are Risk Points

  • Decision points for oil fields and gas fields
  • Risk and probability definitions and concepts
  • Risk identification, measurement and management
  • Forecasting as risk management
  • Assumptions, sensitivities and risk premiums

 

Exploration and Appraisal Decisions, Uncertainty, Risk and Exposure

 

Monte Carlo Simulation

 

Economic Models and Spreadsheet Design

 

Development Decisions

  • Work scope definition and options
  • Decommissioning economics and risks
  • Cost estimating and contingencies
  • Financing options
  • Construction contracts

 

Further Development Decisions and Economic Cut-Off

 

Preparing Convincing Project Proposals

 

Post-Project Appraisal

COURSE LOCATIONS

Code From To City Fee
PM33 13 Jan 2020 17 Jan 2020 Shanghai US$ 5500 Book
PM33 16 Mar 2020 20 Mar 2020 London US$ 5000 Book
PM33 11 May 2020 15 May 2020 Amsterdam US$ 6000 Book
PM33 26 Jul 2020 30 Jul 2020 Cairo US$ 3900 Book
PM33 28 Sep 2020 02 Oct 2020 Kuala Lumpur US$ 4500 Book
PM33 15 Nov 2020 19 Nov 2020 Dubai US$ 4200 Book


DUBAI OFFICE

Ittihad Deira Building,
Al Ittihad Rd, Deira
Dubai,
UAE

info@petrogas-training.com

USA OFFICE

642 E14 Street,
10009-13 Manhattan,
New York (NY)
USA

info@petrogas-training.com

EGYPT OFFICE

52 General Kamal Hejab Street,
Suez Bridge,
Cairo,
Egypt

info@petrogas-training.com
 

COURSE CERTIFICATE

Certificate of Completion will be provided to the candidate(s) who successfully attend and complete the course. Training hours attendance percentage of 75% is required.


TRAINING HOURS

Standard course hours: 8:30 A.M. to 3:30 P.M. Informal discussions: 4:30 P.M. to 5:30 P.M.


TRAINING METHODOLOGY

We use a blend of interactive and hands-on methods, active participation, a variety of instructional techniques, dynamic presentations, individual and group exercises, in depth discussion, DVD’s, role-plays, case studies, examples. All of the information, competencies, knowledge and skills acquired within our training programs, are 100% transferrable to the participants’ workplace.


ASSESSMENT & EVALUATION

Pre-Test and Post-Test Assessment are applied on 5-day and 10-day programs. Also, post course evaluation and candidate’s evaluation are applied to add another level of quality measurement. Candidates’ feedback is highly appreciated to elevate the training service quality.


ORGANIZATIONAL IMPACT

A- Have staff trained in the latest training and development approaches

B- Support nationalization and talent management initiatives

C- Have properly trained and informed people who will be able to add value

D- Gain relevant technical knowledge, skills and competencies


PERSONAL IMPACT

A- Develop job related skills

B- Develop personal skills in subject matter

C- Have a record of your growth and learning results

D- Bring proof of your progress back to your organization

F- Become competent, effective and productive

G- Be more able to make sound decisions

H- Be more effective in day to day work by mastering job-related processes

I- Create and develop competency to perform job well


FREQUENT NOMINATIONS SCHEME

A- 10% discount after 05 candidates’ registration.

B- 15% discount after 10 candidates’ registration.    

C- 20% discount after 20 candidates’ registration.

D- 25% discount after 25 candidates’ registration.

E- 30% discount after 30 candidates’ registration

F- Higher discount rates will be offered based on work volume with different clients.  


SEVERAL NOMINATIONS ON THE SAME COURSE SCHEME

A- One extra free seat is offered on 4 candidates on the same course and dates.

B- Two extra free seats are offered on 6 candidates on the same course and dates.

C- Three extra free seats are offered on 8 candidates on the same course and dates.

D- Four extra free seats are offered on 10 candidates on the same course and dates.

E- Five extra free seats are offered on 12 candidates on the same course and dates.


REGISTRATION POLICY

Nominations to our public courses are to be processed by the client’s Training and/or HR departments. A refund will be issued back to the client in the event of course cancellation or seat unavailability. A confirmation will be issued to the relevant department official(s). 


CANCELLATION POLICY

If a confirmed registration is cancelled less than 5 working days prior to the course start date, a substitute participant may be nominated to attend the same course or a 20% cancellation charge is applied. In case of a no-show, a 100% fee will be charged.


PAYMENT POLICY

Payment is due upon receiving the course confirmation, invoice and/or proforma invoice. However; the fee due can be wire transferred to our bank account directly after course completion. Our bank details are illustrated on the confirmation, invoice and proforma invoice, as well. The above documents can be communicated electronically, i.e., in a soft copy or/and in hard copy based on customer’s request.


COPYRIGHT

© 2017. Material published by PETROGAS shown here is copyrighted. © 2017. All rights reserved. Any unauthorized copying, distribution, use, dissemination, downloading, storing in any medium, transmission, reproduction or reliance in whole or any part of this course outline is prohibited and will constitute an infringement of copyright.