Petroleum Business Management Courses

This three-day intensive and interactive course uses the principles of financial analysis and the power of Excel to identify the important variables that can dramatically enhance the value of an organisation in the oil and gas industry. Using Excel and oil and gas based cases and exercises, delegates will learn how to master many of the tools and functions it provides to apply the latest financial analysis techniques, understand what the numbers are revealing and be better able to make strategic and tactical decisions. The seminar proceeds from fundamental financial analysis to more advanced techniques for determining the cost of capital, methods of projecting the benefit of capital projects. In addition, delegates will learn how to evaluate organisations with which delegates are planning to do business; determine if they are able to provide strategic strength to your company. Databases of companies and situations in the oil and gas industry have been specially prepared for this course and delegates will have the opportunity to analyse companies from around the globe: both IFRS based companies and US GAAP companies, for example. Participants will be given Excel templates for use during this session, which will be theirs to keep. The power of Excel enriches the learning experience and enhances the seminar experience found when using only manual learning methods.

This course is introductory to intermediate in nature and it has been designed to provide a good level of knowledge and practice across the main aspects of Costing and Budgeting in the Oil and Gas Industry. During this intensive four day course, delegates will be exposed to the intricacies of management accounting, in particular as they relate to the costing and budgeting aspects in Oil and Gas companies. In this training programme you will learn how to: Develop budgeting skills required for better decision-making Identify & allocate various types of costs in the preparation of a budget Perform variance analysis and take corrective action steps accordingly

On this short course, the UK Government is treated as the principal case study; therefore there is an emphasis on the law in the UK oil and gas sector. However, wherever possible, the course materials and teaching will be contextualised to incorporate the law as well as the practices of professionals from other countries in attendance.  Furthermore, wherever possible, problems and solutions in other jurisdictions will also be examined. Practical application of the legal principles is of fundamental importance to this qualification. This is reflected in two ways: (1) in the interactive and practical nature of the regular activities and the assessment question in each module and (2) the significant input in the preparation of materials and delivery of teaching by oil and gas legal experts. Key Benefits of Attending This range of content in this course is distinctive since it pulls together all of the major legal obligations affecting the industry. By the end of this course, the delegate should have the following: Knowledge and Understanding of: The legal principles relevant to the contractual and non-contractual legal obligations incumbent on every entity in UK law The legal principles relevant to the contractual and non-contractual legal obligations incumbent on those operating in the oil and gas industry The legal and oil and gas industry structure within which those principles operate 2. The Practical Skills to: Carry out research into a practical legal problem Apply the law to that problem and generate a solution Recognise and interpret legal terminology in contractual or other documentation Effectively draft or revise important contractual clauses relevant to the oil and gas industry Properly risk manage the legal relationship between parties interacting (by contract and otherwise) in the oil and gas industry 3. The Intellectual Skills to: Research the law in relation to a particular situation in which legal implications exist; Analyse the law in a critical way Develop a technique for gathering relevant raw information prior to carrying out a legal analysis of a practical legal scenario Solve practical situations in which industry legal issues might arise Plan and manage work appropriately and to work to deadlines Develop an understanding of personal learning needs and methods

This course will help non-financial managers and staff within the industry improve their knowledge and application of best practices in financial management and accounting within E&P. The course covers the key financial principles in exploration, development and production.  It goes on to examine how business decisions impact upon financial statements and financial performance and how by understanding these impacts managers are better placed to evaluate their decisions.  We will then look the financial impact of the contractual arrangements found in the industry, in particular how Production Sharing Agreements impact upon results and reserves

This course is introductory to intermediate in nature and it has been designed to provide a good level of knowledge and practice across the main aspects of IFRS based accounting in the Oil & Gas industry. During this intensive three day course, delegates will be exposed to a variety of fiscal regimes, with the opportunity to discuss the fiscal regime in their own jurisdiction. The course discusses successful effort and full cost accounting techniques, with reference to IFRS and FASB accounting standards. In addition, delegates will also learn about intangible assets and their importance in the Oil & Gas industry as well as the fundamentals of Property, plant and equipment: Oil and Gas (Development and Production). The impairment of development and production assets is a vital topic for the Oil & Gas industry and delegates will see these matters in action during the course. Many Oil & Gas industry arrangements are based on Joint Arrangements: Joint venture & Joint operations and delegates will explore these aspects in detail in order that they can understand apply the rules found in several IFRS once they return to work. Finally, revenue recognition, which has been a matter of research and development by various accounting standards bodies for a decade and more has culminated in IFRS 15: delegates will spend some time in discussing this standard and its implications for the future

This course is aimed at accounting professionals wishing to deepen their knowledge of the accounting procedures applied to joint operations and production sharing contracts. We consider this from the perspective of operator, non-operator and national petroleum company.  The course assumes IFRS as the accounting framework to be used but references US GAAP to the extent that is it relevant to an IFRS business.

The commercial and operational practices of the upstream oil and gas industry pose unique challenges to accountants who need to operate under multiple reporting frameworks with conflicting accounting methods and with unique contractual arrangements such as production sharing contracts and joint venture arrangements. This course considers the IFRS accounting practices that are applied in relation to exploration, development and production.

In view of an increasingly cost-focused and cash flow business climate, this short course is designed to address the effective design and operated cash call activities and framework that are critical to success of the JV partnership. This is because, in accordance with the terms and conditions in the Joint Venture (JV) / Joint Operating Agreement (JOA), each month the operator must estimate the cash requirements for the upcoming month and request payment from the non-operating associates. Once paid, the advance payment will be offset against the actual expenditures which appear on the Joint Venture Billing statement. It is also demonstrated that without them, the operating oil company is unable to make cash calls for anticipated future capital and operational expenditures from non-operating partners and ensure its success. Oil field and gas field E & P costly activities often suffer immensely whenever any of the partners is unable to meet his obligation to raise capital to finance its share of the joint venture cash calls, which enable the project to exist and operate.

Petroleum Economics Aimed at the more senior manager or technical operative, this aspect of the course, on Petroleum Economics, combines the review, appraisal and evaluation of a wide variety of techniques that are brought together under the heading of petroleum economics. It is assumed that all delegates will have a grasp of the main areas to be discussed and applied during the programme in keeping with the nature and level of the materials to be presented. Excel spreadsheet templates and financial modelling best practice will be used rigorously at appropriate stages in the course. Delegates will be required to apply best practice at all times and to work with the trainer and their fellow delegates on solving problems from the materials provided and their problems at work. As far as contract management is concerned, we will take an intensive look at these critical areas and we will do so in an interactive and highly practical way: Contract Management Overview Contract Pricing and Analysis Cost Accounting Standards Performance Based Contracts Subcontracts Termination and Legal Issues

Aimed at the more senior manager or technical operative, this advanced course on Petroleum Economics combines the review, appraisal and evaluation of a wide variety of techniques that are brought together under the heading of petroleum economics. It is assumed that all delegates will have a good grasp of the main areas to be discussed and applied during the programme in keeping with the nature and level of the materials to be presented. This course is highly interactive and paticipative and Excel spreadsheet templates and financial modelling best practice will be used rigorously throughout. Delegates will be required to apply best practice at all times and to work with the trainer and their fellow delegates on solving problems from the materials provided and their problems at work. The mini case concept is a unique feature of our training: a mini case is a real live problem that delegates bring to the training room looking for assistance in providing a solution to their problem. Without any guarantees, we are confident that all usch problems will be solved during the five days of this course. This course draws on the use of Excel, spreadsheeting including the exploration of such techniques as Monte Carlo Simulations, Decision Tree Analysis and  Multi Variable Sensitivity Analysis.

As a director or senior manager, have you ever thought that one day you are going to retire or move on to new opportunities? And have you ever considered what you will do if a key employee left the organisation? Are you and your organisation prepared for all this and do you have a plan for such predictable eventualities? No? Then this short course is for you. This two-day short course is aimed at giving delegates a deep and real understanding about what succession planning (SP) is, why it has become such a critical element in the business strategy of the majority of the world’s most successful global businesses and how to design and implement their own SP strategy immediately back at work. On this course you will meet other, top professionals who are facing similar problems and more importantly you will develop a deep understanding about succession planning and recognise the competitive advantages it can provide for your organisation. It is a highly intensive and interactive course that provides a clear, logical framework along with a range of practical insights essential for effective implementation. It will enable and empower delegates to not only understand the process but more importantly to be able to lead its implementation within their business.

The turmoil, volatility, uncertainty and risks in the oil and gas industry continue to escalate and it is becoming extremely difficult to model the above parameters and make good decisions based on a reasonable amount of certainty. But good decision making and success is not purely based on risk modelling of uncertainty analysis. What separate leading successful oil and gas companies from other less successful oil and gas companies is the human element, human capital and more specifically, leadership and management skills. If you look at leading successful international companies, they all have one thing in common – advanced, highly effective and humane leadership and management skills. No matter how good your tools are, if you are not able to pull your team together with you and motivate them to attain greater achievements, at a time when risks and challenges increase, you and your company will lose out. Your human resources are both the engine oil and blood circulation in your organisation that make it work and breathe. If your engine oil or blood does not function well, your engine and your body would function poorly. Effective leadership and competent management skills are the essential ingredients to ensure that your company’s operation at all levels runs well with efficiency, quality and productivity. Your decision making and outcomes will improve and could make the difference between loss and profit, between staying in business or going out of business.

Effective and efficient decision making – Some organizations take a while to make contract management decisions, by which time, memories are faded and unresolved issues become a serious obstacle to deliver the contract results. In contrast, effective and efficient decision making avoids and resolves these problems more quickly and satisfactorily, and once you have learnt how to do it, you will immensely boost your career and help your organisation. Prompt paying – Some organizations take 45, 60, or more days to pay their invoices, which is costly to their contractors and suppliers. You will learn that if you agreed a 30-day payment with your contractors and your suppliers, you will be able to use this to your advantage. Also, payment by delivered milestones will be addressed. Effective claims resolution – In order to avoid contractor’s claims and counteract them effectively, the Contract Manager has to develop an understanding of contract types, effective contract management techniques, and contract law and project management. You will learn in this advanced course how to resolve this great challenge. Ideally, in case of dispute you may go for arbitration or mediation and avoid a costly litigation. Low maintenance cost – Total/True Cost of Ownership (TOC) and cost, time, quality (CTQ) are critical. As part of advanced contract management, you will learn how to do your utmost to deliver contract results that minimize maintenance costs by addressing TOC and CTQ issues successfully, professionally and methodically.

This is an advanced level training course for oil and gas industry executives and professionals from other industries who are on the leading/cutting edge of management, commerce and technology. When negotiating, suppliers may mention how they are different than their competitors and, therefore, better for you. They often base their difference on common problems that buyers encounter with other suppliers. In sales, that technique is called differentiation. You can use a variation of this technique when negotiating with suppliers. In purchasing it is called “reverse differentiation.” In using the reverse differentiation negotiation technique, you identify common problems that suppliers have with other customers. Then, when negotiations are at an impasse, you appeal to their emotions by showing how working with your company isn’t as painful as working with some of their other customers. The key is that your point(s) of differentiation must be true. If your organization has one or more of the following characteristics, you will be different than most of your suppliers’ customers and can use these characteristics to “sell” your supplier on the benefit of giving you a better deal in order to earn your business.

The oil and gas industry is growing on daily basis and has become a paramount driver of the global economy. Amid the surging growth in the industry and importance are herculean challenges that public and community relations face in the industry. These challenges are both internal and external. Today, management of oil and gas companies no longer report to their stockholders alone but to stakeholders – stockholders, employees, community members; where the companies operate, etc. This has increased the role of public and community relations professionals in the industry. The great shift in paradigm on how the oil and gas industry is operated makes it to be prone to crisis. As crisis manifest in the oil and gas industry, public relations personnel as the spokespeople of the organisation alongside management have a crucial duty to perform in order to be alert, responsive, make the organisation to recover from crisis, turn those crisis into opportunities, maintain corporate social responsibility and ensure robust community relations as good neighbours.

Human Resource Management (HRM) is a process of bringing people and the organisation together so that goals are met and the results achieved as well as attaining higher morale, improved motivation, and team spirit. The role of HR manager has shifted from that of a personnel administrator, protector and screener to the role of a planner and proactive change agent. HR / Personnel Directors are the new corporate heroes, or should be. The name of the game today in business is personnel development and human capital. Nowadays it is not possible to show a good financial or operating report unless your personnel relations are healthy and thriving. This training is delivered to clients as a 9-module programme, typically face to face, classroom based. This training course is exciting, proactive and dynamic, including videos, role plays, and practical exercises.

Recruiting the best candidates that fits in your petroleum business team is an incredibly important function and yet it can often seem a daunting exercise as the potential consequences of making the wrong decision are huge. This course is therefore designed to help managers in the oil and gas industry to make the right decisions in the recruitment of new staff. The emphasis is on the use of a structured approach where good preparation and effective interviewing techniques ensure that the ‘right’ candidates are taken on by the organisation in accordance with internal policies, best practice and legal considerations. This course is highly participative, using small team discussion, a quiz and practical exercises including a practice interview session which they will prepare for and conduct on the day with support from the trainer.