About this Training Course

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 before the 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 course will highlight:

The strategic importance of understanding the scale of future abandonment liabilities
Current Good Estimation Practices and how these should be applied to well abandonment
The relationship between data quality and accuracy
Common risks of cost overrun in well abandonment and how to manage them
How good practices contribute to improved cost control

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TRAINING OBJECTIVES

This course will provide 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 course, participants will learn to:

Differentiate between both methods of cost estimation and Classes of Estimate
Build a comprehensive Basis of Estimate using Good Industry Practice
Appreciate levels of accuracy and their implications
Identify common risks of cost overrun in well abandonment and how to manage them
Build a probabilistic estimate and compare this with a deterministic approach for the same workscope
Utilize cost estimation as a tool for cost control

TARGET AUDIENCE

All individuals involved in abandonment planning, cost provisioning or execution management who would like to optimize their contribution to the well abandonment planning processes will benefit from this course.

The course is suitable to a wide range of professionals but will greatly benefit:

Well Engineers
Team Leaders and Managers responsible for abandonment design
Finance and Technical Cost Estimators responsible for identifying and managing future decommissioning liabilities
Project Execution Engineers
Team Leaders and Managers responsible for delivering well abandonment workscopes

COURSE LEVEL

Basic
Intermediate

TRAINER

Your Expert Course Instructor is a Senior Consultant specializing in the planning and preparations for well abandonment and the strategic planning for decommissioning and abandonment of offshore facilities.

After an initial period working for Shell in the Middle East, the North Sea, and on land in Continental Europe, he has held several increasingly senior management positions in a number of major service companies in the Oil and Gas Sector with responsibility for a range of functions including the introduction of new technology, the development of global marketing strategies, delivery of integrated services projects and service delivery on several well abandonment work scopes.

More recently, he has further specialized in decommissioning and well abandonment working as a consultant on a number of assets, focusing on abandonment method selection, cost estimation and development of decommissioning strategies. In total, he has developed abandonment methodologies for over 1,200 wells across more than 19 regulatory regimes around the world.

He has solid experience of working in both the North Sea and internationally, recently working on decommissioning and abandonment projects in South Africa, Malaysia, Norway and the UK. Responsibilities have included preparing technical guidelines for regulatory agencies, appraising decommissioning and abandonment plans, compiling decommissioning project cost estimates and leading the development of Operator decommissioning strategies and portfolio planning.

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POST TRAINING COACHING SUPPORT (OPTIONAL)

To further optimise your learning experience from our courses, we also offer individualized “One to One” coaching support for 2 hours post training. We can help improve your competence in your chosen area of interest, based on your learning needs and available hours. This is a great opportunity to improve your capability and confidence in a particular area of expertise. It will be delivered over a secure video conference call by one of our senior trainers. They will work with you to create a tailor-made coaching program that will help you achieve your goals faster.
Request for further information post training support and fees applicable

Cost Estimation and Analysis of Well Abandonment Activities