Well Abandonment is commonly the largest area of expenditure in decommissioning oil and gas production assets and is often the area of largest cost overruns. Estimating the abandonment costs at end of well life provides some unique challenges to the engineer and the cost estimator due to the potential step change impact of technical decisions and regulatory requirements.
The strategic nature of decommissioning, and particularly abandonment, has only recently been recognized, with the growing impact on Company balance sheets, and the potential for significant cost overruns now in the spotlight in many organisations. Lessons can be learnt from recent industry experience, with good quality estimating practices at the heart of ensuring appropriate strategies can be implemented to minimize the current and future impact on the business.
This PetroKnowledge training course will highlight:
This PetroKnowledge training course provides a comprehensive grounding in cost estimation good practices, how these apply to well abandonment, and why adoption is of strategic importance in financial planning and cost control.
By the end of this PetroKnowledge training course, participants will learn to:
All individuals involved in abandonment planning, cost provisioning or execution management who wish to improve or optimize their contribution to the well abandonment process will benefit from this course.
This training course is suitable to a wide range of professionals but will greatly benefit:
This PetroKnowledge training course will be taught using short introductory lectures followed by classroom discussion and debate to draw out key learning points and ensure the application of fundamentals is well understood. The tutor will use a number of real and imaginary examples to illustrate the key points and the potential impact of both good and poor management. Coverage of each area will include a tutorial exercise which may be undertaken individually or in small groups. The answers and conclusions drawn will be discussed and compared to illustrate the impact of varying approaches.
The strategic importance for oil and gas asset operators of managing future decommissioning and well abandonment liabilities is often overlooked. Participants will be able to knowledgably contribute to delivering effective financial and technical management of future abandonment obligations:
Attendees will attain a thorough understanding of cost estimation good practices and their application to well abandonment work scopes, allowing them to:
We offer a variety of tailored training options, customized to meet your organisation's needs. Delivered anytime, anywhere, we make it easy to bring expert training directly to your team.
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