OIL & GAS PROJECT ECONOMICS, EVALUATION AND
PROJECT MANAGEMENT

 Sjafri Joenoes & Pulung Susilo Rahardjo

 

 
 
  Introduction   What You'll Learn  
 

The purpose of decision analysis is to help a decision maker think systematically about complex problems and to improve the quality of the resulting decisions. In this regard, it is important to distinguish between a good decision and a lucky outcome. A good decision is one that is made based on a thorough understanding of the problem and careful though regarding the importance issues. Outcomes, on the other hand, may be unlucky, regardless of decision quality. Therefore, decision analysis allows making effective decisions more consistently.

 

1st phase of the course.

 

         Understand various economic terms used in the oil & gas industry

         Understand how to develop economic models of various petroleum fiscal regimes

         Carry out cash flow analysis and determine economic indicators

         Carry out different economic analysis for petroleum related projects

         Carry out a comprehensive economic evaluation study for any petroleum related project including risk analysis and sensitivity study using spreadsheet

         Understand reserves measurement methodology

         Understand reserves and resource definitions and guidelines for classification

         Understand the relation between technical and commercial aspects of resources

         Understand the process performed by independent evaluator in performing reserves certification

         Case Study

 

2nd phase of the course

 

         Select leadership techniques to increase the probability of your success

         Apply the concept of complexity science to project management

         Determine the true complexity, with a clear understanding of variables involved and move forward to develop a plan that provides the right level of control and flexibility for success

         Use a stage-gate methods and Independent Project Analysis (IPA) database to access your goals & business case for better results in developing complex projects

         Determine a new approach to applying already know project management knowledge, skills, tools and techniques, and it will enable you to assess your projects complexity

         To deploy the most relevant te3cgniques to achieve project success.

 
 
Course Overview

This course is prepared in 2 phases where first phase will explain regarding project financial understanding when valuing oil and gas assets. Executing a petroleum related project such as field development, evaluate various investment opportunities by determining economic indicators and sensitivity analysis. Understanding techniques for predicting profit, production, costs, and cash flow for optimum result. Familiar with economic indicators, risk and uncertainty, Gain knowledge on different economic structures such as tax regimes and production sharing contracts.

This 1st phase course is also designed to give a better understanding of Reserves and Resource Definitions and Guidelines for Classifications. Various aspects of the evaluation of hydrocarbon reserves as well as learn how to use reserves reports and studies.

2nd phase of the course will explain regarding to manage a complex and risk-laden project successfully you may need a comprehensive and effective management tool. This course will give you the latest concepts, methods and practices used by progressive companies worldwide to manage projects to achieve technical and financial success.

The content of this course phase is based on a structured gate approach to develop a business case, project scope definition and execution planning for successfully result in developing complex projects. The course participants will use Front End Loading (FEL.) method to apply the project management techniques discussed in the course.

The course of whole project from the beginning to the end will take time for 5 days as follow; 2,5 days for Projects Economics and 2.5 days for Project Management.
 

 
  Course Content  
 

DAY 1 (full day)

 

Economics Indicators

  • Present Value Concept

  • Discount Factor

  • Net Present Value

  • Internal Rate of Return

  • Payback Period

  • Profit Investment Ratio

  • Comparing Economic Indicators

Risk and Uncertainties

  • Risk & Uncertainty

  • Expected Value Concept

  • Decision Tree Analysis

  • Sensitivity Analysis

  • Spider and Tornado Diagrams

  • Probability Distribution

  • Monte Carlo Simulation

Production Sharing Contract (PSC)

  • Production Sharing Contract (PSC) Definitions and Guidelines

  • Develop PSC Model

DAY 2 (full day)

 

Reserves and Resources Definitions and Guidelines for Classification

  •  Petroleum Resources Management System (PRMS), Definition and Guideline

Reserves Reporting Requirement

  • Security Exchange Commission (SEC)

  • Due Diligence and Audit Process

  • PSC Economic Model for Rerserves Audit

  • Valuation of Reserves

DAY 3 (full day)

 

Executive Overview of Project Management

  • What is a Project and Project Management

  • What is Program Management

  • Benefits and Obstacles of Project Management

  • Basic Concepts of Project Management

  • Defining Roles of Leadership in a Project

  • What are Complex Systems

  • Stage-Gate:

What is the Stage-Gate Process?

How Does the Stage-Gate Process Work?

What are the benefits of using the Stage-Gate Process?

-  Standardized work process with Front End Loading (FEL)

 

Project Management Process

  • The Management Process

  • The Project Management Process

  • The Project Life Cycle

  • Project Life Cycle and Uncertainty

  • Project Scope Planning

 

 

 

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DAY 4 (Full Day)

 

Work Breakdown Structure (WBS) and Organizational Structures

  • Work Breakdown Structure

  • Organizational Structures

  • Selecting the Organizational Form

  • Selecting the Project Manager

  • Building the Project Team

  • Complex Systems; Organizational Issues

Bounding Project Scope

  • Stakeholder

  • Requirements

Project Classification Framework-Creating the Project Charter

  • Project Charter Elements

  • Examples

Leading and Managing the Project Team

  • Difference between Management and Leadership

  • Power and the influencing of behavior

  • Situational Aspect of Leadership Styles and Follower Readiness

  • Team-building and Conflict Resolution Techniques

  • Successful Motivation Practices

  • Effective Leader Communication

Task Planning & Introduction to Estimation

  • Cost & Time Estimation

  • Equipment Driven Activities

  • Labor Driven

  • RAM

DAY 5 (full day)

 

Project Network Modeling

  • Introduction to Networks

  • Creating the Networks

  • Determining the Critical Path

  • Gantt Charts

  • Fast-Tracking The Project Schedule

Project Management Software

  • MS-Projects, Primavera and Other Software Package

  • Resource Leveling and Project Budget

-  Resource Leveling

Generating a Project Budget

Management Reserve/Contingency Funds

Budget Estimation Tips

 

Project Control

  • Element of Project Control

  • Earned Value Analysis

  • Change Control and Configuration Management

Risk Management

  • Risk Management Process

  • Identifying Risks

  • Qualitative and Quantitative Techniques

  • Risk Mitigation

Evaluating, Directing, and Closing Out a Project

  • Independent Assessments

  • Project Close-out

  • Lessons Learned

 
 
  Who Should Attend  
 

Oil & gas professionals such as project managers, project engineers, project support managers & their staff, project planning & cost controller, auditors, inspector, geologists, economists, accountants, technicians who need to learn how to conduct economic evaluation and to understand the role of petroleum economics in investment decision making and also to understand the oil & gas project management. This program is also recommended for non-technical financial professionals whose work relates to the petroleum industry, supervisors & managers in the Exploration, Production, Financing and Bank & Insurance Company.

 
 
  Your Course Instructor  
 

Ir. Sjafri Joenoes MM

He received Bachelor degree from Mechanical Engineering Department, Industrial Engineering Faculty, Bandung Institute of Technology (ITB) on 1979 and also he has Business Master from Prasetya Mulya Business School on 2004. He Has a professional and practice experiences as various disciplines such as; Drilling, Reservoir Management, Planning & Budgeting more than 35 years in National & Multinational Company specially Oil & Gas Industry. He retires from PT. Medco E&P Indonesia on year 2013 and focused in Strategic Planning & Budgeting and Specialist of Reserves Management and Reporting

 

Ir. Pulung Susilo Rahardjo

He received Bachelor degree in Aeronautical Engineering from Mechanical Engineering Department, Industrial Engineering Faculty, Bandung Institute of Technology (ITB) on 1981He has a professional and practice experiences as Project Management Senior Staff more than 30 years in National & Multinational Company special Oil & Gas Onshore & Offshore  Industry. He also attended at many project management seminar & course program at Indonesian & overseas institution. He retired from Petronas Carigali Indonesia (PCINO) on year 2014 and focused in Project Management Advisor and Project Management Instructor.

 
 
  Registration Form   Enrollment Information  
 

YES !!!

Please Register the Following Delegate to Attend

 

OIL & GAS PROJECT ECONOMICS, EVALUATION AND
PROJECT MANAGEMENT

 

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Kec. Gambir
Jakarta Pusat
 

 

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