Course Description

This Upstream Petroleum Cost Trends and Benchmarking training course will investigate in-depth some of the cost drivers that impact investments and project CAPEX and OPEX. Rising upstream costs are driving the Oil & Gas industry towards a more prominent on Capital and Operational expenditure; as margins are crushed with returns down and costs up, there is no doubt a difficult set of situations for the business lie ahead.

Further this training course will assist to improve your understanding on the encompassing effect of costs on the operations and empower organisations to build strategies for advancing CAPEX, OPEX, oversee risks and build a comprehensive cost discipline strategy with data, analysis and outlook for the complete Oil & Gas value chain through successful benchmarking. Recent low oil prices have restricted value creation, compounding issues of high costs and greater technical and commercial complexity. Successful Exploration and Production Operators will differentiate themselves from their competitors by optimising the return from each capital dollar invested. this course aims to identify and determine the best metric to evaluate performance against your peers and provides opportunities to learn from those in the top quartile, as well as see how others are interpreting current trends and market recovery scenarios and in turn managing their portfolio of assets at upstream more effectively.

Course Objectives:

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

• Interpret and analyse the comprehensive cost data that will enable companies to improve drilling programs and completions onshore and offshore including subsea and deep-sea
• Identify and categorise the different types of cost categories and components of the upstream petroleum industry
• Apply peer-to-peer benchmarking baselines and cost data in the upstream petroleum industry
• Operate the upstream sector in a low price and highly volatile sector environment and understand critically the cost drivers
• Explain the cost management maturity level at upstream petroleum industry
• Tell the latest trends and development in disciplined and structured cost management approach at upstream petroleum industry

Who Should Attend?

• Project teams
• Upstream petroleum industry professionals
• Project and programme managers of new frontiers (Acreage/Blocks/Wells)
• Value assurance teams
• Strategic players at upstream petroleum industry
• Senior executives and heads of departments who wants a better understanding of upstream cost drivers, upstream supply chain, industry peers current and best practices
• Senior practitioners requiring refresher and update on recent developments and trends in upstream cost benchmarking practices and capital efficiency management.
• Anyone new to or aspiring to enter the exploration and production profession

Training Methodology: critical appraisal and rapid response assessment based on a situational analysis, presentations with engaging and interactive style, practical exercises, supported by video materials, activities and case studies and current peer to peer baseline trends in the Petroleum Industry Value Chain.

Venue:  

Fee: 

Duration: 1 week

Course Date: August 21st – 25th, 2023