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Decom Cost Training: Managing and Minimising Decommissioning & Abandonment Cost Liabilities
20th April 2020 - 22nd April 2020
One event on 15th May 2023 at 12:00 am
One event on 20th November 2023 at 12:00 am
Why Choose this Training Course
Decommissioning Liabilities are clearly an unwanted burden on the Company Balance Sheet, but it should be appreciated that spending little effort on investigating their true extent carries a significant risk that actual costs will be much higher than necessary. Early investigation of likely costs allows key cost drivers to be identified and action taken to minimise both projected and the actual cost to the short- and long-term benefit of the business.
Built on significant practitioner experience in this area with several majors, and smaller, Oil and Gas Operators, this course will introduce and demonstrate good practices designed to highlight how to manage the uncertainties inherent in decommissioning and abandonment operations.
The decom cost training course is designed to provide attendees with the ability to improve the quality of provisioning management with the aim of managing financial planning and reducing actual costs and the likelihood of unexpected cost overruns.
Who Should Attend
This decom cost training course is designed for:
- Financial Managers who are accountable for financial provisioning for future Decommissioning.
- Asset Managers who are responsible for budgeting of Decommissioning and Abandonment Operations.
- Well Engineers and Team Leaders who are responsible for compiling Cost Estimates.
- Government Regulators and Industry Stakeholders who are keen to understand how costs can be predicted and controlled.
- Key Learning Objectives
This decom cost training course will provide attendees with:
- A strategic appreciation of the risks of poor liability estimates.
- Techniques to minimise the impact of increases in liability estimates.
- An understanding of how to manage and ensure adoption of Good Practises including:
- The various classes and types of estimates, and when and how to use them.
- The key elements required to build a comprehensive Basis of Estimate.
- The ability to build and contrast probabilistic and deterministic estimates.
- Appreciation of the strategic importance of identifying and managing risk related to decommissioning and abandonment scopes, including:
- Understanding of how to compile a Risk Register and how to use one to manage and minimise cost risk.
Combining these will allow attendees to appreciate the strategic importance of both recognising liabilities at an early stage and of good quality, early cost estimation, targeted at driving down future costs and current provisions.