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    • Class and Course
    1. NExT
    2. Business Management
    3. E&P Cost Control, Budgeting & Cost Estimating (Classroom)

    E&P Cost Control, Budgeting & Cost Estimating (Classroom)

    • Foundation
    • 3 Days
    • classroom1Classroom

    This 3-day classroom course will provide a comprehensive understanding on the nature of costs and cost drivers in the E&P industry providing in-depth understanding on the budgeting process, proactive management, effective control, and optimization of costs together with focused and relevant performance reporting.


    • Finance staff with accounting and financial management responsibilities
    • Those responsible for devising budgets, managing and controlling budgets
    • Professionals engaged in planning, budgeting and management reporting
    • Finance & Audit staff engaged on cost and financial controls
    • Business unit managers and personnel whose responsibilities include cost management, controlling budgets and performance reporting


    • Understanding the nature of costs and cost drivers in the E&P industry through the Field Life Cycle 
    • Purpose of the Budget. Planning and Budgeting models. The Strategic and Medium-term plan.
    • Using budgets to make effective decisions. Prepare and understand costs in planning, budgeting & forecasting processes e.g. fixed / variable, CAPEX / OPEX and routine / non-routine.
    • Cost Accounting. Importance of timely cost capture and accurate recording e.g. VOWD / accruals, consistency of coding and clarity on accountability
    • Strategic solutions in delivering cost optimization – do more for less
    • Management of costs in PSC and JV environments. Avoiding cost leakage and ensuring audit preparedness
    • Cost Control Framework - budgets, AFEs, progress reports and variance analysis. Understanding key components and ensuring seamless interaction
    • Cost Performance Reporting - use of KPI's, variance analysis and trend analysis. Tracking and monitoring cost optimization initiatives and targets.

    None

    Currently there are no scheduled classes for this course.

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    SOLUTIONS

    Corporate

    Individual

    COURSE OFFERINGS

    Petrotechnical

    Operations and Maintenance

    Energy Transition

    SLB Software

    Digital Technology

    Technical Challenges

    Health Safety and Environment (HSE)

    Business Management

    E&P Introduction and Fundamentals

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