Cycles of low oil prices have become an inherent feature of the petroleum industry value chain. A low oil price scenario, is a condition that arises whereby the breakeven value of an oil and gas field, is higher than the sales price of the crude oil or natural gas. Traditional response recipes so far have been a resizing of the activity, involving layoffs and cancelling or putting projects on hold, sometimes indefinitely. Reducing capital expenditure is a natural response to low oil prices, as demonstrated by the oil and gas industry deferring or cancelling billions of dollars’ worth of planned investments. At the same time however, the industry needs to continue to explore and develop oil and gas fields in order to meet long-term demand that continues to grow, even though more slowly than before. A closer look though shows that while the average production cost of the barrel may be uneconomical, still certain oil generating activities, field areas or wells can still yield profitable oil.
This training course presents viable alternatives that allow exploration & production (E&P) companies to refocus on cost-effective measures aimed at maintaining profitability, and process streamlining, whilst incorporating cost effective innovative solutions and best practices to reduce production costs. By maintaining a critical eye on productivity and capital expenditure whilst scanning the scope of work and detailed engineering, additional savings may result if standardized specs components are incorporated and redundant activities filtered out. Selected case examples with innovative solutions applicable to implementation programs for selected new field technologies are elaborated.
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This training course is suitable to a wide range of professionals but will greatly benefit:
This training course is a highly interactive stimulating learning experience, where participation is encouraged in a supportive environment. This ensures the concepts introduced during the training course are understood and reinforced. This is achieved through a mix of learning methods, including lecture style PowerPoint presentations, open discussion and case studies.
The delegates will be engaged and encouraged to exchange ideas throughout the course by business case studies and facilitated discussions. Short videos will also be used to reinforce specific technical and operational points and to relate the material to real-world experience.
Competency Description: This module is intended to develop oil field business management skills to support production operations.
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Competency Description: This module is intended to provide an understanding of the energy efficiency drivers in the oil field business.
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Competency Description: This module provides an awareness of new technologies in oil field production operations.
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Competency Description: This module will help participants develop oil and natural gas Supply Chain Management SCM skills.
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This module is intended to develop an appreciation of oil and gas markets including the vast business field of derivative markets.
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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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