| The Oil and Gas industry overview • The nature of the Oil and Gas industry • Who are the key players? • Strategic challenges and opportunities facing the industry • Structures and business models • Case study review Commercial drivers • Upstream, midstream and downstream operations • Exploration, evaluation and production • Lifting and production costs • Reserve estimates • Case study review Oil and Gas exploration and production arrangements • Framing agreements • Joint ventures • Product sharing agreements • Implications and challenges • Joint operating agreement review Capital project planning and execution • Importance of project planning • Front end loading • Hot spots and challenges • Creating and protecting value • Implementing effective project control framework Risk management application • What is risk management and why it is important? • Risk management as applied to capital projects. • Specifying objectives and identifying project uncertainties • Technical and non-technical risks • Risk register review and analysis • Stakeholder identification and mapping Project economics • Evaluating opportunities • Discounting and non-discounting methods • NPV, IRR • Discount rates • Case study application and review Cost & estimation • What is a cost estimate? • What factors influence an estimate? • Determining contingencies • Probabilistic models • Monte Carlo simulation • Challenges and areas for improvement Capital contracting issues • Managing the oil and Gas spend • Understanding the market • Developing the appropriate contracting strategy • Reward structures and options • Contract award and the importance of contract management • Case study application and review Measuring and reporting performance • External and internal reporting • Identifying report user requirements • KPIs • Measuring and reporting project performance • Earned value management analysis and reporting Oil and Gas Capstone case study • A case study dilemma • Key learnings • Summary and course wrap up |