Overview of the Petroleum Industry - OVP

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This course presents an overview of the Petroleum Industry from the point-of-view of the Asset Management Cycle. By explaining the real-life steps involved in the creation and exploitation of oil and gas fields, the participant is introduced to the exciting processes which drive the industry and create new value. Emphasis is on Onshore as well as Offshore projects, including both large and small fields. Each step of the cycle is introduced with a summary of relevant technologies, economics, manpower requirements, importance of training and competency assessment, as well as relevant case histories. Both conventional and unconventional oil and gas prospects are included.

Both technical and business oriented professionals who are either new to the upstream oil and gas industry or experienced in one part, but could benefit from a wider point of view, all levels of support staff working in the industry, as well as investing or financial personnel with a need to better understand the industry.

You will Learn:

  • The critical importance the industry plays on the world's economic "stage", including discussions of pricing, global reserves and key short/long-term energy trends.
  • Business and exploration elements critical to the success of organizations in search of new reserves
  • Methods by which new field prospects are evaluated and risk factors assessed (Geology, Geophysics, Petrophysics)
  • How exploration rights are acquired
  • The basic process for drilling and evaluating an exploration well (Drilling, Petrophysics, Testing)
  • Major steps required to appraise a new discovery and estimate its commerciality (Reservoir Engineering)
  • Strategies to maximize the value of an oil or gas field asset
  • How geology and reservoir management plans are used to guide new field development
  • Major steps in the design, construction and commissioning of facilities
  • Basic technical and operational steps required to produce an oil or gas field (Production Engineering)
  • Types of opportunities to optimize older fields and increase production

Course Content:

  • Recognize and assess opportunities
  • Acquire exploration rights
  • Generate exploration prospect
  • Drill and evaluate exploration well
  • Establish commerciality
  • Create asset business plan
  • Characterize asset
  • Initiate facility design and sanction development project
  • Design, construct and commission facilities
  • Produce asset
  • Exploit asset
  • Dispose or decommission asset

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