Topics covered:
- Controlling capital and operating costs.
- Licence agreements and negotiations.
- Joint venture relationships.
- Assessing subsurface risk and its mitigation.
- Categorising, valuing and reporting reserves.
- Project planning: Feasibility, F.E.E.D and EPC.
- New, cost-effective technologies.
- Managing field decline.
- Enhancing and extending production.
- Goal-setting, benchmarking and key performance indicators.
- Health, safety, environment & decommissioning issues.
- Optimising multidisciplinary team effectiveness.
Who should attend?
Oil and Gas Asset managers.
Geoscientists and Engineers.
Oil and gas Economists.
Corporate Planners.
Operations Managers.
Course overview
Effective upstream management requires an overall understanding of the technical, economic, commercial and contractual aspect of upstream asset portfolios. Emphasis is placed on these interrelationships. Many companies have now re-formed their upstream organisations into multidisciplinary teams that are responsible for upstream asset management. The course addresses the challenge of managing upstream projects successfully against a backdrop of continuing volatile prices and costs.
The course has been designed to give delegates a ‘hands-on’ involvement through.
(a) the use of exercises taken from real world examples
(b) discussion of case study material from various parts of the globe
Topics are covered with a combination of PowerPoint presentations, handout notes and references. Selected videoclips are used to illustrate key projects.
Benefits of attending
Gain a greater understanding and insight of all the facets of the upstream management.
Understand and quantify sensitivity of upstream projects to subsurface and “above ground” risks.
Analysis on the effect of varying capital and operating costs on project performance.
The importance of rationalising portfolios to maximise value.
Review of current and future trends in the upstream oil industry.
Day 1
Challenges, Trends and Strategic Direction.Controlling costs. Project economics, benchmarking and key performance indicators.
- The current challenges of upstream management.
- Extracting optimum value from upstream assets.
- Cost analysis.
- Controlling costs, budgeting and AFEs.
Exercise: future oil and gas prices in project analysis.
- Project economic parameters.
- Sensitivities; prices and costs.
Exercise: project sensitivity to varying costs and prices.
- Goal-setting.
- Benchmarking and key performance indicators (KPIs).
Day 2
Exploration Programmes and Portfolio Management.
- Evaluating exploration risk and uncertainty.
- Subsurface risk and its mitigation.
- The “above ground” risks.
- Licence agreements and negotiation.
Exercise: Negotiating and budgeting for a 6-year exploration campaign, offshore Angola.
- Characterising upstream portfolios.
- Managing the upstream portfolio and creating synergies.
- Portfolio case studies: BP, Petronas and Talisman.
Exercise: Rationalising an international portfolio.
Day 3
Joint Ventures, Project management.
- The Joint Operating Agreement (JOA) and Accounting Procedure (AP).
- Joint venture finances, budget and accountancy issues.
- Managing joint venture relationships.
Exercise: resolving an impasse in a potential sole risk scenario.
- Managing contractual relationships in development projects.
- Managing contractual relationships in field operations.
- Feasibility, FEED and EPC.
- Pitfalls in project management.
Exercise: Utilising GANTT charts for a field unitisation.
Case Study: The Ross/Blake development, U.K North Sea.
Day 4
Managing Reserves, Production and Transportation.
- Reserves definitions and conventions and reporting ; SPE, SEC, SORP.
- Categorisation and valuation of petroleum reserves.
Case Study: West African deepwater reserves.
Reserves quiz.
- Reservoir characterisation.
- Predicting production rates and field behaviour; reservoir simulation.
- Technologies to improve, enhance and extend production life.
- Managing field decline; controlling operating costs against reduced production and revenue.
- Benchmarking field performance.
Case Study: Alba field, U.K. North Sea.
- Transportation; tariff and treatment.
Case Study: BTC pipeline Baku to Ceyhan.
Day 5
HSE, Decommissioning Managing Asset Teams and Joint Venture Relationships.
Case Studies of HSE management.
- Decommissioning issues and challenges.
- Getting the best out of asset teams, optimising communication.
Case Study: Clyde Oilfield, U.K North Sea.
- Business performance and incentives.
Exercise: grading priorities.
- Putting it all together.
- Challenges confronting the petroleum industry.
- Group discussion with delegates.
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William J. Pyke
Bill Pyke has over 37 years of experience in the international oil and gas business. He qualified as a petroleum geologist at Imperial College, London and gained upstream operating experience while working for North American oil companies including ARCO, Marathon and latterly Talisman Energy in the U.K.
International assignments included operations in Europe (including UK and Netherlands North Sea), Africa and the Middle East. In more senior management positions he broadened his experience to include all aspects of upstream activities that also included a range of mergers, acquisitions and divestments.
During his time with Talisman he was part of a successful four-man senior management team highly involved in optimising value from ageing North Sea field assets during a period of low oil prices.
Since late 1998 Bill has been an independent oil and gas consultant. Assignments have included projects with a large range of clients involved in the oil industry. He is also actively involved in delivering training and development programmes to delegates actively involved with the upstream oil industry. He is a fellow of the Energy Institute, London.
Courses run by this instructor
Interested in holding this course in-house? Please fill out your details and a member of our team will be in touch with more information.
26-28 Nov 2012 (London, UK)
This Euromoney Energy Training course examines the roles of benchmarking and performance monitoring through key performance indicators and the analysis of business models.
12-15 Nov 2012 (Singapore, Singapore)
The Energy Risk Management: Mastering Volatile and Complex Markets course is a comprehensive and systematic introduction to risk management for complex energy markets. The course will detail why and how risks in energy – particularly gas and electricity - are more acute than in other traded market sectors, and how classic risk management techniques must be adapted and extended to meet these demanding conditions.
1-5 Oct 2012 (Singapore, Singapore)
This 5-day course is a comprehensive review of the key features of upstream management ranging from exploration and development through to production and transportation. The course will benefit attendees who wish to broaden and deepen their upstream management skills
16-19 Jul 2012 (London, UK)
People coming to energy risk management for the first time are taken aback by the extreme market conditions that are commonplace in the complex markets of oil, coal, and above all, gas and electricity. Levels of volatility and basis risk are unprecedented: and there are additional risks that are unique to energy. This course shows delegates how to deploy traditional risk management tools in the challenging context of volatile energy markets, and to extend these techniques to master the unique risk characteristics of gas and electricity.
19-21 Sep 2012 (London, UK)
This 3 day course concentrates on a review and analysis of energy trends over the next 20 years. While predicting future energy trends can be fraught with uncertainties, attention is given to reviewing and analysing a variety of key market drivers, applying sensitivities and discussing probable outcomes.
21-23 Nov 2012 (Lagos, Nigeria)
Attend this practical and interactive three-day training course and enhance your knowledge in the following key areas: The fundamental economic principles underpinning production sharing contracts (PSC’s); The history and evolution of production sharing contracts (PSC’s); The PSC structure, content and flowchart; Cost recovery, profile share, bonuses, sliding scales; Royalty and Taxation; Ringfencing; Key economic issues in PSC negotiations and bidding, featuring: Nigeria PSC economic modelling workshop, The economic impact of the Petroleum Industry Bill (PIB) and Global case studies
11-14 Jun 2012 (London, UK)
For operator drilling contractor and service company personnel that desire a specialised familiarisation, understanding and comprehension of Deepwater Drilling Operations, equipment, processes, systems and activities.
25-29 Jun 2012 (London, UK)
This 5-day course is a comprehensive review of the key features of upstream management ranging from exploration and development through to production and transportation. The course will benefit attendees who wish to broaden and deepen their upstream management skills.
16-19 Jul 2012 (London, UK)
4 days of course modules that focus on the review and examination of the key elements of the supply chain from upstream activities of exploration, development and production through transportation to downstream sector that involves trading, refining, petrochemicals and final distribution to the consuming markets.
5-8 Nov 2012 (Hong Kong, Hong Kong)
4 days of course modules that focus on the review and examination of the key elements of the supply chain from upstream activities of exploration, development and production through transportation to downstream sector that involves trading, refining, petrochemicals and final distribution to the consuming markets.
20-22 Aug 2012 (Hong Kong, Hong Kong)
This course is designed for professionals who need to develop an understanding of the unique aspects of the energy industry, including the oil and gas commercialisation and business development or facilities evaluation and commercialisation.
The course will focus on the skills required in evaluation (both buyside and sell-side), financing, acquisition, and exploitation planning for an oil and gas entity, a midstream facility or electrical generation plant.
8-10 Oct 2012 (Singapore, Singapore)
This Euromoney Energy Training course examines the roles of benchmarking and performance monitoring through key performance indicators and the analysis of business models.
25-29 Jun 2012 (London, UK)
Featuring 3–individually bookable modules:
- Upstream development & production
- Mid-stream pipelines & LNG projects
- Downstream oil refineries & petrochemical plants
- Including: 16 key industry case studies to improve your understanding
24-27 Sep 2012 (London, UK)
22-31 Oct 2012 (Hong Kong, Hong Kong)
20-23 Nov 2012 (Singapore, Singapore)
For operator drilling contractor and service company personnel that desire a specialised familiarisation, understanding and comprehension of Deepwater Drilling Operations, equipment, processes, systems and activities.
12-14 Nov 2012 (Hong Kong, Hong Kong)
This 3 day course concentrates on a review and analysis of energy trends over the next 20 years. While predicting future energy trends can be fraught with uncertainties, attention is given to reviewing and analysing a variety of key market drivers, applying sensitivities and discussing probable outcomes.
12-15 Nov 2012 (Singapore, Singapore)
14-16 Nov 2012 (Almaty, Kazakhstan)
This course explores the structure and mechanisms of production sharing contracts (PSC’s) and the economic principles that underpin them. Studying the underlying processes and commercial drivers, participants will examine case studies to illustrate the economic structure of these complex agreements.
17-27 Sep 2012 (London, UK)
An 8-day comprehensive, intense and practical programme covering the financial structures used today to finance energy projects worldwide at each stage along the energy supply chain.
17-21 Sep 2012 (London, UK)
This 5-day course is designed to introduce both lawyers and nonlawyers alike to the theories and practice of international commercial and investment arbitration in the oil & gas industry.
25-27 Jun 2012 (London, UK)
17-19 Dec 2012 (London, UK)
This Petroleum Company Performance Management training course has been designed to offer personnel from corporations and financial institutions a full complement of tools to use most effectively in developing and analysing the corporate performance measures for oil and gas companies.
20-24 Aug 2012 (London, UK)
This Euromoney Energy Training course provides a comprehensive overview of the oil and gas industry from upstream exploration and production to downstream refining, sales and marketing. You will gain an appreciation of industry dynamics and the key issues affecting its development and future. This course will provide a thorough foundation for understanding the changing industry dynamics.
17-19 Oct 2012 (London, UK)
13-15 Feb 2013 (London, UK)
This Euromoney Energy Training course provides a comprehensive overview of the oil and gas industry from upstream exploration and production to downstream refining, sales and marketing. Under the guidance of our expert course faculty, participants will gain an appreciation of industry dynamics and the key issues affecting its development and future.
10-12 Jul 2012 (London, UK)
This 3-day Euromoney Energy Training course will give you an in-depth understanding of the problems and solutions in unit formation, negotiation of participation factors and operating agreements. The role of governmental agencies in consent and oversight will also be discussed.
12-15 Jun 2012 (London, UK)
11-14 Dec 2012 (London, UK)
This practical Euromoney Energy Training course will enable delegates from all technical and commercial disciplines to understand the theories and methods used to value oil and gas prospects. The four-days will reveal the fundamental aspects of upstream petroleum economics and risk analysis. Through computer-based exercises, participants will construct economic models, incorporating relevant cash flow data for case study projects and scenarios.
10-12 Oct 2012 (Singapore, Singapore)
This course explores the structure and mechanisms of production sharing contracts (PSC's) for upstream oil and gas projects. Studying the underlying processes and commercial drivers, participants will examine case studies to illustrate the economic structure of these complex agreements.
17-20 Dec 2012 (Dubai, United Arab Emirates)
This 4 day International Oil & Gas Contracts course is specifically designed for professionals involved internationally in the oil and gas industry, it offers a unique opportunity to rapidly increase your understanding of the legal issues involved in various UK and international scenarios and to improve your techniques and skills in drafting a variety of international contracts.
23-25 May 2012 (Rio de Janeiro, Brazil)
This course explores the structure and mechanisms of production sharing contracts (PSC's) for upstream oil and gas projects. Studying the underlying processes and commercial drivers, participants will examine case studies to illustrate the economic structure of these complex agreements.
29-31 Oct 2012 (London, UK)
This course is designed for professionals who need to develop an understanding of the unique aspects of the energy industry, including the oil and gas commercialisation and business development or facilities evaluation and commercialisation.
The course will focus on the skills required in evaluation (both buyside and sell-side), financing, acquisition, and exploitation planning for an oil and gas entity, a midstream facility or electrical generation plant.
11-13 Sep 2012 (London, UK)
This course explores the structure and mechanisms of production sharing contracts (PSC’s) for upstream oil and gas projects. Studying the underlying processes and commercial drivers, participants will examine case studies to illustrate the economic structure of these complex agreements.
22-24 Oct 2012 (London, UK)
This 3 day Upstream Oil and Gas Acquisition and Divestment course will explain how upstream oil and gas assets are traded from both buyer and seller perspectives.
The course includes references to failed and successful deals and provides valuable insight into how to conclude successful transactions.
The principles of Licensing Rounds, Farm In and Farm Out processes are explored as well as key industry processes underpinning these transactions. It includes assessment of case studies, and an element of group work based on an “acquisition and divestment opportunity” where buyers and sellers meet to consider an opportunity and to “close a deal”.
This course has now expired please email us to find out when the course will next be running.