Who Should Attend?

Drilling engineers, drilling accountants, drilling planning executives, business development executives and managers, finance executives, supply chain managers, contracts, procurement, well engineers and geologists.

About the course

Given the capital intensiveness of exploration & development and associated risks involved means tight controls and succinct evaluation of performance has become a necessity. Drilling activity comprises the majority of CAPEX during exploration & development stages and therefore it is critical that performance of oil and gas field development solutions can be measured.

Cost controlling and risk management requires detailed Well Cost Control analysis. The course will cover cash flow analysis, deriving and understanding economic indicators and detailed probability and fiscal analysis. These are vital components of the evaluation of investments in today’s international upstream oil and gas industry.

This course is a practical upstream oil and gas Well Cost Control course that will provide participants with a complete understanding of the use of the techniques of Well Cost Control analysis for finance, commercial, performance, sustainability and risk as currently practiced in the oil and gas industry. Participants will receive a thorough understanding of the context of Well Cost Control analysis as well as practical instruction and an appreciation of the analytical techniques used. Along the course, participants will be engaged in exercises and examples to reinforce their understanding of the concepts learned.

You will learn

• Explore in detail various issues and challenges in well costing
• Develop clear and accurate planning and budget reports for well development and drilling
• Understand well costing terminology, well construction process and cost controlling process through various cost reporting and cost reconciliation
• Learn the exploration and development costs and AFE set-up
• Improve monitoring and management of integrated budgeting and planning
• Develop accurate CAPEX report and OPEX forecasts for management and partners
• Refine the coordination of the accounting group to boost the confidence of asset owners and partners
• Maximize the utilization of the ERP solution and Risk Management

Course content

• Well Construction
• Well Cost Controlling
• Drilling Cost
• Role of the AFE
• CAPEX  &OPEX
• Inventory
• Operation Maintenance Program
• JVA & PSA Governance
• Risk Management
• Well Cost Reporting
• Well Cost Reconciliation
• Leveraging the ERP Solution