This five-day program provides a comprehensive overview of the challenges involved in developing and executing international petroleum projects. The program covers all aspects of the project development and execution process from concept to startup with particular focus on a systematic Stage Gate project management process to make timely decisions during the various phases of the project. Best practices for the project cycle are covered to ensure successful outcomes. An LNG project is considered as an example.
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This intensive program has a lecture and workshop format. Lectures are taught by experienced industry specialists and the workshop is facilitated by a simulation model specialist.
This program is ideal for those individuals who seek an integrated understanding of the development and execution of international petroleum projects. This may include executives, project managers, project engineers, procurement specialists, contractors, planners, government personnel, technologists, project specialists, construction personnel, finance personnel, and other specialists or stakeholders who interface and work in areas related to the oil and gas industry wishing to learn about the management of international petroleum projects.
Daily sessions will start at 8:00 AM and run until 5:00 PM. Participants will receive further information on location and schedule upon registration.
Oil and gas value chain; market structures; exploration and production; gas processing; gas liquids; unconventional sources; refining and petrochemical industry fundamentals; worldwide oil and gas economics; major players; evolution of the integrated oil and gas business; strategic objectives of an enterprise; need for large capital investments.
Financial models; approach to evaluate investment alternatives; project cash flow analysis; discounted cash flow and internal rate of returns; cost of capital and impact of debt financing; other measures of project performance and sensitivities to changes in key variables; project financing considerations.
Application of the Stage Gate process to petroleum projects; introduction to case study used to illustrate the process through its five stages, as illustrated in the figure below.
Fundamentals of gas supply and markets, technology, economics, risk analysis and business fundamentals; gas production, gas fired power plants, ammonia / urea plants, small GTL plants, pipelines, gas processing plants; investment alternatives and tradeoffs, Joint Venture considerations.
LNG value chain, import and exports, gas reserves, developmental plans, project-related issues including commercial agreements, Sales and Purchase agreements, financing agreements, Joint Venture setup, term sheets.
Project-related issues including project scope definition, facility planning, plant design basis, alternative technologies, licensor selection, project execution considerations including contractor selection.
Evaluation of alternatives based on strategic fit, criteria for comparison of options, investments, economics, uncertainties, risk mitigation steps. Special considerations for Joint Ventures.
Front end loading, basis of design, project execution plan, contracting strategies, FEED to EPC transition, EPC management options, cost and schedule development, safety assessment, project risk assessment, value improving practices, FID (Final Investment Decision) elements.
Key elements of FID package, reconfirmation of business case, JV partner alignment, key commercial and legal agreements; financing agreements, technology selection, contracting strategy finalization, safety management, cost, schedule finalization, economic evaluation, sensitivity analysis, risk management.
Key activities during detailed engineering, procurement, coordination of offices and procurement centers, quality assurance and quality control, key success factors, stewardship of cost and schedule.
Critical role of safety leadership and a safety culture; safety management systems, safety pyramid, leading and lagging indicators in safety stewardship and incident prevention, incident evaluation, root cause analysis, proactive assessment of safety in the workplace, cultural diversity, and related challenges.
Execution issues during construction, safety during construction, contractor qualifications, subcontracting options, construction stewardship, organizational interfaces during construction, quality assurance and quality control, revamp vs. grassroots construction, best practices to manage diverse workforces and maximize productivity, precommissioning activities.
Key elements of startup, organizational design, safety during commissioning, pre-startup audits, training requirements, coordination with upstream, downstream facilities and customers, role of contractors and owners, development of punch-list items, handover to operations.
Systematic approach to capture learnings from integrated project teams regarding facility design, safety, cost, schedule, quality assurance, EPC, as well as startup and commissioning aspects; project closeout documentation needs, reappraisal of investment post startup and comparison with FID basis.
The workshop setting is the island Republic of Cosmos, located off the coast of East Africa. Your company has undertaken a successful exploration program in nearby blocks and has identified sizable gas and condensate resources. Your exploration team has determined that these resources are commercial, and your company is now planning to invest substantial capital to develop them in conjunction with the national oil company. Your project team has been asked to analyze, plan, and develop the market opportunities.
The sessions include:
