Managing Oil Fields in a Low Price Environment
Select Other "city & date"
Managing Oil Fields in a Low Price Environment Course
Introduction:
The petroleum industry value chain has experienced cyclical periods of low oil prices, which have become a recurring characteristic. A low oil price scenario occurs when the breakeven value of an oil and gas field exceeds the sales price of crude oil or natural gas. Traditionally, the response to such situations has involved downsizing operations through workforce reductions, project cancellations, or indefinite project delays. Capital expenditure reduction is a natural reaction to low oil prices, evident in the oil and gas industry deferring or scrapping planned investments worth billions of dollars. However, it is essential for the industry to continue exploring and developing oil and gas fields to meet long-term demand, even though the growth rate has slowed compared to previous periods.
Course Objectives:
By the end of this training course, participants will be able to:
- Reduce the production cost per barrel to maintain profitability without affecting the production
- Reduce development costs that have been planned without affecting the objectives
- Introduce Technological Innovations and Operational Improvements in a systemic way to fast track field implementation
- Elaborate ideas leading to specific improvements in their workplaces
- Improve the existing programs to reduce OPEX and CAPEX by applying procedures, best practices and examples
Who Should Attend?
This training course is suitable to a wide range of professionals but will greatly benefit:
- Petroleum engineers, & reservoir engineers, production engineers, facilities engineers, drilling and completion engineers
- Managers, supervisors and government officials
- As well as anyone involved or interested in Reducing OPEX and CAPEX and increasing the production in a cost-effective manner
Course Outlines:
Introduction Oil Field Business Management
Competency Description: This module is intended to develop oil field business management skills to support production operations.
Key behaviors:
- Appreciate the role of advanced business management to oil filed management
- Understand the scope and structure of crude oil markets
- Recognize the features that are responsible for today’s low oil and gas prices
- Understand how to quantify and interpret statistical oil and gas data
Topics to be covered:
- Advanced Business Management applied to Oil Fields
- The Total Cost of producing the Barrel of Oil
- Historical Price Development - Prior Low Oil Price Scenarios
- Features of the Current Low Oil Price Scenario and its Impact
- Demand Versus Offer Global Outlook
Oil Field Process Improvements
Competency Description: This module is intended to provide an understanding of the energy efficiency drivers in the oil field business.
Key behaviors:
- Distinguish between variations in oil field processing
- Appreciate the role of sustainability and profit improvement
- Recognize opportunities for process improvements
- Develop competencies for ranking cost elements in the oil and gas industry
Topics to be covered:
- The Process in the Oil Fields – Surface and Down Hole Activities
- Where do Process Improvements come from?
- Ways to identify Process Improvements inside the Organization
- Ranking of the common top Cost Element in the Oil Fields
- The Sustainable and Profitable Approach – Not all is about New Well drilling
Innovations and New Technologies in Oil and Natural Gas
Competency Description: This module provides an awareness of new technologies in oil field production operations.
Key behaviors:
- Be able to grasp opportunities to reduce OPEX and CAPEX
- Appreciate scenarios for implementing innovations in Surface & Sub-Surface Technologies
- Understand the scope and structure of successful oil fields
- Recognize situations of what could go wrong
Topics to be covered:
- OPEX & CAPEX Reduction Opportunity Identification - Surface & Sub-Surface
- Effective Implementation of Innovations and New Technology
- Examples of Successful Field Cases
- What could go wrong?
- Selling the Idea – Specific Procedures and Templates
Oil and Gas Supply Chain Management
Competency Description: This module will help participants develop oil and natural gas Supply Chain Management SCM skills.
Key behaviors:
- Learn from a variety of example case studies in new field developments
- Understand how heavy and extra heavy oil fields can be extracted
- Develop skills in international issues of the oil and gas supply chain
- Be able to interpret data in tendering techniques
Topics to be covered:
- Examples Case of New Developed Fields
- Examples Case of Mature Developed Fields
- Examples of Heavy and Extra Heavy Oil Fields
- Advanced Tendering Techniques and SCM Best Practices
- International Issues in the Supply Chain
Energy Derivatives
Competency Description: This module is intended to develop an appreciation of oil and gas markets including the vast business field of derivative markets.
Key behaviors:
- Learn the terminology and use of derivatives.
- Understand the workings of international crude oil trading
- Develop skills in oil and gas hedging techniques
- Use available resources to improve energy efficiency