Delivery Schedules
Day 1
Project Economics
An Examination of Project Economics
The Project Lifecycle and Participating Stakeholders
Typical Forms of Upstream Oil and Gas Projects
Principles and Techniques of Forecasting
Cash Flow and Economic Metrics
Forecasting and Analysis of Cash Flows
The Concept of the Time Value of Money
The Cost of Capital

Day 2
Fiscal Regimes
Introduction to the primary categories of fiscal regimes globally
Constructing cash flow models
Examining various forms of service agreements
Comparative analysis of investments within different fiscal regimes
Contemporary trends in fiscal regimes worldwide

Day 3
Project Investment Analysis.
Discuss and incorporate risk and sensitivity analysis to facilitate accurate calculations.
Examine the purpose of incremental investment analysis.
Prepare, analyse, and make informed decisions based on comprehensive capital budgeting and
the project selection procedure.
Evaluate and provide recommendations regarding potential oil and gas investments.
Manage budgeting and scenario planning within project management. Establish forecasts,
targets, and budgets: understanding their definitions and the importance of their application

Day 4
Contract Management Overview
Contract Structure
Advanced Contract Management Process
Leading Techniques and Methodologies
Contract Milestones and Deliverables
Payment Arrangement/by Results
Performance Measurement (eg Earned Value)
Contract Pricing and Analysis
Why/How Price is Different to Cost
Price and Cost Analysis
Pricing Models and Finance
Smart Purchasing
TOC and CTQ
Contract Audit
Cost Accounting Standards
Introduction to ACS
Leading Cost Accounting Standards
Understanding the Impact of Cost Principles
Selected Cost Principles Relevant to Contract Managers
Allowable Costs
Allocation of Costs

Day 5
Performance Based Contracts
Contract Management’s Role in Performance-Based Contracting
Performance-Based Service Acquisition
Scope of Work (SOW) Analysis
Deviation from SOW
Extraordinary Items
Claims and Counterclaims
Subcontracts
SOW and Subcontracts
Source Selection
Contracts
Subcontract Administration
Terms and Conditions
Small/Disadvantaged Businesses
Teaming and Subcontracting
Termination and Legal Issues
Terminations for Convenience and Inconvenience
Settlement of Terminations
Liquidated Damages
Rules of Interpretation
Dispute Resolution
Arbitration and Mediation

Course Description

Designed for senior managers or technical staff, this course on Petroleum Economics covers the
review, appraisal, and evaluation of a broad range of techniques in petroleum economics. It is
presumed that all participants possess a fundamental understanding of the primary topics to be
discussed and applied throughout the programme, consistent with the level and complexity of the
materials presented. Excel spreadsheet templates and established best practices in financial
modelling will be meticulously employed at suitable junctures within the course. Participants are
expected to consistently adopt best practices and collaborate with the instructor and fellow
delegates to resolve issues derived from the provided materials and their own professional
challenges. Concerning contract management, an intensive, interactive, and highly practical
methodology will be adopted to address these vital areas. Contract Management Overview.
Contract Pricing and Analysis, Cost Accounting Standards, Performance-Based Contracts,
Subcontracts and Termination and Legal Issues.

Petroleum Economics
By the conclusion of this course, delegates will be able to: -Identify all components of a project lifecycle and specify the stakeholders involved. -Review the common types of upstream oil and gas projects. - Understand and apply forecasting concepts and methodologies. - Establish and utilise a cash flow forecast. -Apply the principles of the time value of money. -Review and evaluate the primary fiscal regimes adopted worldwide. -Discuss and implement risk and sensitivity analyses. -Prepare, analyse, and make informed decisions based on general capital budgeting and project
selection processes. - Assess and provide recommendations concerning potential oil and gas investments. - Utilise and evaluate budgeting and scenario management techniques for project management.

Contract Management
Upon completing our advanced, dynamic, and engaging training course, participants will be able
to:
Understand the essential features necessary for effective contract management and the delivery
of fit-for-purpose outcomes.  -Gain an understanding of key contract performance benchmarks, obligations, and exceptions to
safeguard your organisation against unwarranted disputes. -Master risk identification, allocation, and sharing to mitigate exposure. -Comprehend how to professionally manage contracts and enhance the achievement of optimal
results. -Acquire tips and tactics for sophisticated contract management to ensure successful outcomes. -Evaluate common termination, dispute resolution, and arbitration strategies to know how to
respond when issues arise. -Learn how to avoid pitfalls and develop into a proficient professional contract manager. -Apply principles of Total/True Cost of Ownership (TOC) and Cost, Time, and Quality (CTQ) to
your advantage.