- Payment Terms: Enquire
- Locations: Dubai Riyadh Istanbul England - United Kingdom Kuala Lumpur Singapore Barcelona Manhattan - United States
- Duration / Course length: 4 Days
- Starting Date: Enquire About It
- Timings: Enquire
Course details
Course Introduction:
Examine the life-cycle costing of upstream oil and gas projects, from exploration through to production, covering cost estimation, budgeting, and economic evaluation.
Course Outcomes:
Better collaborate within multidisciplinary teams on field development planning tasks leading to investment decisions
Give a comprehensive overview of the nature and magnitude of exploration, development, production and decommissioning costs
Explain how to express life-cycle costings in cash flow and economic models
Describe the challenges of upstream life-cycle costing, and dealing with uncertain and incomplete information
Who Should Attend:
Upstream oil and gas industry professionals, managers and discipline experts, who need to gain a deeper understanding of upstream life-cycle costing
Persons involved in industry oversight, from regulators, government agencies, non-governmental organisations (NGOs), charities, special interest and campaigning groups that need to better understand the cost constraints under which oil companies operate
Early career professionals wishing to advance their understanding of upstream oil and gas costing and economics issues
Course Topics:
Upstream Oil andamp; Gas life-cycle Costing
Aspects of the upstream oil and gas exploration development and production industry
The asset (oil or gas field) life-cycle from acquisition and exploration through to production and decommissioning
Relationship to cost estimation and cost engineering
Approaches to costing
Bottom-up vs. top-down approaches
Analog benchmarking parametric and cost metrics approaches
Provision for engineering growth contingency unallocated provision operators reserve
Types of cost: exploration; capital (capex) operating (opex) and decommissioning (abex)
Upstream Oil and Gas life-cycle Cost Components
Description of the items (activities services wells facilities) that add to life-cycle costs (so they mean more than just numbers in a spreadsheet)
Illustrative costs for all components
The parameters (key-drivers) that most influence the cost of components
Cost metrics and rules-of-thumb
Building of a cost model
Field Development Planning
Introduction of the time element
Time value of money discounted cash flow basic petroleum economics
Cost production revenue cash-flow profiles
Building of an economic model
The Wider Context
Issues relevant to how costs are prepared used and influenced
Petroleum production licences and contracts
Cost train wrecks when costs go out of control
The wisdom (and cost) of front end loading (FEL)
Current and future challenges to oil and gas production (and hence to costing)
Human aspects (biases irrationality vested interest) that can skew costing
Dealing with risk uncertainty and incomplete information
Decision making
Regional and host-country factors including productivity and local content issues
Eligibility / Requirements
N/A
About LCT International
LCT International is a premier provider of executive education, delivering world-class training and consultancy solutions to international governments, corporations, and professionals worldwide. With a legacy of excellence, innovation, and impact, we help professionals and organizations develop the skills, strategies, and leadership capabilities needed to thrive in today’s dynamic global economy.
Our programs are designed to bridge the gap between theory and practice, ensuring that every learning experience translates into real-world success. Whether you’re a senior executive, aspiring leader, or organization seeking to upskill your workforce, LCT International provides cutting-edge training tailored to your specific needs.
Why Choose LCT International?
- Global Recognition & Expertise – With a strong legacy in professional development, we have trained leaders from over 500 organizations across 100+ countries, making us a trusted name in executive education.
- Tailored Learning Solutions – Our programs are designed to meet the evolving needs of industries, ensuring practical, results-driven learning that enhances careers and strengthens organizations.
- Industry-Leading Faculty – Learn from renowned experts and practitioners with decades of experience in leadership, finance, HR, operations, and strategic management. Our trainers bring real-world insights and case studies to every session.
- Flexible Training Formats – Whether you prefer onsite sessions in global locations, immersive executive retreats, or live virtual training, we offer seamless learning experiences that fit your schedule.
- A Legacy of Excellence – Formerly London Corporate Training (LCT), we have evolved into LCT International, reinforcing our commitment to expanding global access while maintaining our rich heritage of quality education. This transition reflects our continued dedication to offering enhanced learning experiences that cater to professionals worldwide.
- Practical & Impactful Learning – We go beyond theoretical training by integrating interactive workshops, real-world case studies, and hands-on simulations, ensuring that participants can apply what they learn immediately in their professional environments.
Our Areas of Expertise
- Leadership & Strategic Management – Executive leadership, corporate strategy, decision-making, and change management
- Finance & Banking – Financial risk management, corporate finance, investment strategies, and international banking
- Human Resource Management – Talent management, organizational development, performance management, and employee engagement
- Operations & Project Management – Agile project management, supply chain optimization, and operational excellence
- Marketing & Business Development – Digital marketing, brand management, customer experience, and market expansion strategies
- Public Sector & Government Training – Policy development, governance, and regulatory compliance
At LCT International, we don’t just teach – we transform careers, empower professionals, and drive organizational success.
Take the next step in your professional growth!
See all LCT International coursesEnquire about this course
You may add more courses here,
your list will be saved.
