Cost Planning, Control & Optimization  in a Major Oil & Gas Company

An Intensive 5 - Day Online Training Course

Cost Planning, Control & Optimization
in a Major Oil & Gas Company

Enhancing Your Financial Skills to Increase Your Business Potential in the Oil & Gas Sector

Scheduled Dates

06 - 10 Nov 2022 Online $2,350
Enroll Now View Classroom Format In-House Options

Are the scheduled dates matching with your needs?

We provide a wider range of training options. Tailored and customized, we can deliver your organization’s training needs anytime, anywhere.

Why Choose this Training Course?

Why Choose this Online Training Course?

Cost control within the Oil & Gas Industry presents certain challenges. Costs must be managed without compromising either safety or production. This innovative PetroKnowledge Cost Planning, Control & Optimization in a Major Oil & Gas Company online training course presents the delegates with practical tools and techniques which can easily be applied right now within their company and work. It also introduces delegates to emerging tools and techniques to develop for the future.

This online training course will help the delegates to save their employers money without damaging the business. This PetroKnowledge Cost Planning, Control & Optimization in a Major Oil & Gas Company training course will feature practical, engaging, and innovative techniques from different organisations. This online training course will also help the delegates to identify and deliver savings without damaging performance, capability, strategy, delivery, or safety.

What are the Goals?

What are the Goals?

As a result of this PetroKnowledge Cost Planning, Control & Optimization in a Major Oil & Gas Company online training course, delegates will gain better control of costs and it will provide opportunities for immediate savings and long term sustainable saving for the organisations. Delegates will be engaged, challenged, and motivated to make a significant difference within their organizations.

By the end of this PetroKnowledge online training course, participants will be able to:

  • Proactively manage costs
  • Seek opportunities for cost reduction
  • Effectively control costs
  • Make better use of cost budgets, plans and forecasts
  • Understand project appraisal
  • Control costs with projects

Who is this Training Course for?

This PetroKnowledge Cost Planning, Control & Optimization in a Major Oil & Gas Company online training course is essential for many professionals but especially for managers with financial responsibility for departments or projects or those who are involved in the analysis of costs to support decisions within the business.

This PetroKnowledge online training course is suitable for a wide range of professionals but will greatly benefit: 

  • Finance Managers
  • Budget Holders
  • Project Managers
  • Professional Engineers
  • People providing direct support to the above

How will this Training Course be Presented?

How will this Online Training Course be Presented?

This online training course will utilize a variety of proven online learning techniques to ensure maximum understanding, comprehension, retention of the information presented. The training course is conducted Online via an Advanced Virtual Learning Platform in the comfort of any location of your choice.

Organisational Impact

By attending this PetroKnowledge Cost Planning, Control & Optimization in a Major Oil & Gas Company online training course, participants will provide benefits for their organization through the following:

  • Participants will develop a set of transferable skills which will improve their powers of cost planning helping the company to increase profit, improve cash flow whilst minimizing costs and risk
  • The new skills will help them to make more informed and hence better management decisions
  • The use of practical case studies and illustrations of real companies will help delegates understand how to apply different planning, forecasting and analysis techniques in a work situation
  • The knowledge gained can be shared amongst other departments of the company to improve the financial culture of the entire organisation
  • Strategic Thinking and Appreciation of the links between costing, budgets, and Strategic Financial Plans
  • Application of Effective Forecasting Techniques
  • Identification of the most appropriate Financing and Optimal Capital Structures
  • Development of Modern Approaches to Costing, Planning, Budgeting and Budgetary control
  • Capital Investment appraisal, Cash Forecasting and Budgeting

Personal Impact

As a delegate, you will:

  • Develop an understanding of today’s major issues in cost planning and control
  • Develop your professional skills, powers of analysis, evaluation, and decision-making
  • Be able to make more informed and hence better planning, budgeting, and cost reduction techniques
  • Make improved finance and capital budgeting decisions, which will increase your importance to your organization
  • Absorption Costing, Marginal Costing and Cost-Volume-Profit (CVP) Analysis, Activity Based Costing (ABC), and Activity Based Management (ABM)
  • Application of Discounted Cash Flow (DCF) techniques of Net Present Value (NPV), Internal Rate of Return (IRR), Modified Internal Rate of Return (MIRR), Equivalent Annual Cost (EAC), and the Profitability Index (PI) for Capital Project Investment Appraisal and Capital Budgeting
  • Be able to identify areas in which they may be able to contribute to improvements in the financial performance of your company which will help improve your career development

Daily Agenda

Day One: Cost, Profit, Risk and Cash 

  • Costs and Profit
    • Objectives - Mission & Vision - Profit Now vs. Profit Later
    • Strategy and How It Guides Cost Management Decisions / Strategy Models and Costs Management
    • Cost vs. Value / Value Focused Approaches Profit Drivers
  • Costs and Cash
    • Cash vs. Profit
    • Cost – Cash and Non-cash
    • Costs Management vs. Cash Management / Capital vs. Revenue Managing Capital Cost / Managing Revenue Cost
  • Cost and Risk
    • Introduction to Risk
    • Cost and Risk

Day Two: Costs & Costing 

  • Understanding and Working with Costs
  • Cost vs. Value
  • Value Based Cost Management / Thinking
  • Plan for Cost Reduction and Profit Improvement
  • Fixed and Variable Costs Income Statement
  • Break-even Analysis / Contribution Margin
  • Costing Approaches – Full Absorption, Marginal, ABC
  • New Ideas in Cost Management – Lean Principles / ABC – Big data
  • Oil & Gas Issues

Day Three: Planning and Forecasting Costs / Risk 

  • OPEX Planning Approaches
  • Value Engineering Approaches Applied to OPEX and Personnel Incentives
  • G&A Cost Planning and Valuation
  • Forecasting Tools and Techniques
  • What is Risk?
  • Modelling Costs and Profit and Risk
  • OPEX Long-term Forecast
  • OPEX Planning and Performance Monitoring

Day Four: Investment Appraisal and Projects – Capital Budgeting 

  • Building Cashflow Models for Decision Making
  • CAPEX Planning System
  • Factors Used to Evaluate the Efficiency of CAPEX Projects, Annual Investment Program
  • CAPEX Planning in Oil Companies
  • Applying Time-adjusted Measures - The Time Value of Money
  • Net Present Value (NPV) and Internal Rate of Return (IRR) / EVA and NPV
  • Sensitivity Analysis, Scenario Analysis, Simulation, and NPV Break-even / Monte Carlo Analysis
  • The Importance of Flexibility and Options
  • Dealing with Risk and Changing Circumstances

Day Five: Budgets and Cost Control 

  • The Budgeting Process
  • The Role of Budgeting
  • Annual Budgeting Process
  • Identifying and Resolving Budgeting Variances
  • Different Budgeting Systems in Use Today
  • Budgeting Tips and Techniques
  • Variance Analysis
  • Beyond Budgeting

Certificate

  • On successful completion of this online training course, a PetroKnowledge E-Certificate will be awarded to the delegates

In Association With

GLOMACS Training

Our collaboration with GLOMACS aims to provide the best training services and benefits for our valued clients

Visit Website ›

Frequently Asked Questions

How can I register for a training course?

  • To register online through our website, please click “Enroll Now” on the course page, complete and submit the form. A confirmation e-mail and instructions will be sent to the participant’s e-mail.
  • You may also get in touch with our Registration Team on
    +971 56 222 7795 | +971 2 557 7389 or send an email to reg@petroknowledge.com

When and how do I arrange payments?

  • Payments can be made in USD or UAE local currency AED (Arab Emirates Dirhams) either by Bank Transfer or by Credit Card. Our Bank Account details will be provided on the invoice.
  • Course fees are payable upon booking unless a valid, authorized Purchase Order is provided and accepted.
  • Invoices will be sent via email/courier to the ID/name and address provided.
  • The course fee shall be settled prior to course start date. Corporate payments with existing payment policy shall be relayed to us in advance.

When should I expect to receive confirmation of registration?

Upon successful registration online, enrolment on the respective training course will be confirmed by Registration Team by e-mail along with the invoice and joining instruction.

Is there a discount for more than one registrant/course?

For corporate fees and group registration, please send your query to info@petroknowledge.com.

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All rights reserved. Any unauthorized copying, distribution, use, dissemination, downloading, storing (in any medium), transmission, reproduction or reliance in whole or any part of this course outline is prohibited and will constitute an infringement of copyright.


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