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E-724C - E&P Project Cost Estimation & Control Certification

E-724C - E&P Project Cost Estimation & Control Certification

5 days
EPM/COSTGB
Sessions
This course is not scheduled.
Who should attend?

Audience

    • Project engineers and managers, petroleum architects, engineers in charge of the modification/extension of existing facilities and R&D engineers.

Level

  • Proficiency
  • This course provides a structured and comprehensive approach towards cost estimation and control of upstream Oil & Gas projects.
Learning Objectives
  • Upon completion of the course, participants will be able to:
  • technically define a project to provide a comprehensive cost estimate,
  • perform estimates using a variety of methods and tools,
  • apply the main cost control techniques used throughout the project execution.
Course Content

OVERVIEW OF E&P PROJECTS

0.5 day

  • Introduction to exploration and production projects:
  • Economics and risk analysis in the E&P chain.
  • Decision process from discovery to production.
  • Technical fundamentals:
  • Production facilities.
  • Structures and pipelines.

PROJECT COST ESTIMATION

1.5 days

  • Estimation framework:
  • Scope and exclusions. Cost management process. Estimate classes. Capital expenditures. Operating expenses.
  • Cost evaluation during project evaluation phases:
  • Order of magnitude estimate. Factored/modular estimate.
  • Cost evaluation during basic engineering and contracting phases:
  • Semi detailed estimate. Detailed estimate.
  • From historical data to present time cost evaluation:
  • Cost escalation, cost indexes, inflation. Location factors.
  • Additional cost elements:
  • Risks and uncertainties. Provisions. Particularities of cost estimation of brownfield projects.

CASE STUDIES ON COST ESTIMATION

1.5 days

  • CAPEX of an onshore project:
  • Cost estimate of well clusters, CPF, flow lines, trunk lines and infrastructures using diverse documents (historical data, curves, etc.).
  • CAPEX of an offshore project:
  • Cost estimate of a satellite field development.
  • CAPEX of a deep offshore project:
  • Cost estimate of the three main packages (FPSO, UFR and SPS).
  • OPEX of an onshore field:
  • Production, transformation and transport costs. Routine and non-routine costs.

COST CONTROL

1.5 days

  • Overview of cost control process.
  • Impact of contracting strategy.
  • Breakdown structures and budget.
  • Commitment process.
  • Change management.
  • Forecasts and reporting.
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Ways & Means
  • Case studies from upstream projects.
  • Spreadsheets will be used to perform project cost estimates from basic design parameters.
Certification
  • An international recognition of your competencies.
  • A Advanced Certificate is obtained.
  • An expertise confirmed in E-724C - E&P Project Cost Estimation & Control Certification.
  • Ready-to-use skills.