Managing Oil and Gas Assets

Strategic choice 

• Strategy and strategic planning 
• Oil industry landscape Review of the competitive forces affecting the oil & gas industry
• Strategic reviews – TECOP, PEST, SWOT and Strategy tables
• Creating a strategy based upon Competency and Competitive Advantage
• Three tests for strategies; suitability, feasibility and acceptability.
• Case study – BG E&P
• Exercise - TECOP 

Finance, Petroleum Economics and Strategic choice 

• Asset Managers, Ops. Managers
• Understanding the main financial statements Profit and Loss, Balance Sheet and Cashflow Statements
• Accounts maintained by Schlumberger
• Petroleum Economics
• Fiscal Regimes
• Economic Hurdles and Thresholds used in Commercial Evaluations
• Procurement and supply chain
• Exercise – Royalty/Tax Exercise  

OilSim Challenge 1

Uncertainty and Risk  Identifying risk and uncertainty

• Preparing a risk management plan
• Integrating the concepts of TECOP
• Model and assess project schedule, budget and scope risk
• De-risking projects with a phased approach
• Risk monetarization
• Exercise – Simprentis Island Risk Register  

Portfolio Management  

• Portfolio management
• Portfolio optimization
• Understand the importance of a diversified portfolio
• Portfolio management strategies employed in different companies
• Exercise - Portfolio management 

Governance  

• General asset governance
• Front-End Loading and the stage gate process
• Earned Value Analysis (EVA)
• Decision Quality Models (DQM)
• Exercise – Earned Value Analysis EVA 

OilSim Challenge 2

Operational Excellence  

• The principles of operational excellence
• The Shingo Model
• Operational excellence toolkit and management system
• Thirteen elements of Operational Excellence  

Project Management  

• The project management triangle
• Project risk
• Scope, Budget, and Schedule in Quality projects
• Risk identification matrix
• Risk mitigation strategies
• Desktop exercise  

Stakeholder management  

• The importance of partner selection
• Strategic alliances
• Managing stakeholders
• Stakeholder mapping and analysis
• Case study – Anadarko Mozambique
• Desktop exercise  

OilSim Challenge 3  

• Technology strategy  The importance of Technology strategy in business performance
• Building and technology strategy  

OilSim Challenge 4

Exploration best practice  

• Exploration workflow
• Exploration risk and petroleum economics
• Bidding for license, bonus versus work program bidding, how bids are awarded.
• Generic exploration strategies
• Managing a portfolio of exploration prospects  

Field Development Planning  

• Reservoir appraisal
• The key processes in a Field Development Plan
• Understand the elements that comprise a full and executable FDP
• Describe how to prepare an asset development strategy  

Reserves  

• What reserves are and why they are estimated
• General classification of resources and reserves
• Unitization

Facilities design   

• The role of facilities in the development process
• Types of facilities which used in upstream oil and gas production
• Design considerations in selecting downhole and surface equipment
• Facilities selection and the specification process.
• Case study – Shell / Equinor Ormen Lange onshore facilities  

Production operations  

• Phases of production
• Production challenges
• Operations and Maintenance
• Capital and operating expenses
• E&P business unit metrics
• Main concerns in production, water corrosion and scaling.  

Production optimization  

• The digital oil field understand the main components of the digital oil field
• Understand the main roles of the technology in the digital oil field
• Identify the value creation of the digital oil field
• Improve and Enhanced Oil Recovery
• Why and when these strategies are used to improve reservoir performance.
• Case study – PDO EOR in Oman
• Asset abandonment
• Issues and drivers in abandonment
• Case study – Anadarko Red Hawk