ICTD International Centre for Training and Development

Management Strategies in the Oil Gas & Petrochemical Industries

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About the course

In today’s climate of economic turmoil, price volatility and market uncertainty, and with globalism making our lives more interconnected and complicated, it is increasingly necessary for companies to identify and develop managers with a broad understanding of the issues facing the international oil and gas industries and with the skills necessary to manage effectively over a wide range of operations. This programme is designed to provide managers with the necessary skills and knowledge and to prepare them for more senior responsibilities within their organizations.

Course Objectives

  • Gain a broad understanding of the petroleum industry and the companies that make up this industry
  • Learn about the important issues facing our industry and strategies used to address these issues
  • Gain specific skills in strategic planning, setting goals, budgeting and finance
  • Learn the characteristics of an effective leader and understand how leaders motivate, delegate and inspire
  • Understand how projects are organized and managed
  • Understand the management and allocation of resources (money, time, people, tools and technology)
  • Gain skills in managing project costs
  • Deal with project risks through finance and project execution strategies
  • Make effective management decisions using deterministic and probabilistic models
  • Compare international legal systems
  • Learn how to work with international contract law and understand methods of dispute resolution
  • Learn about the legal issues surrounding global supply and transportation

Course Outline

Oil Industry Overview

  • Origin, source and nature of hydrocarbons
  • Exploration - how hydrocarbons are found
  • Production operations
  • Field processing operations
  • Transportation of crude oil
  • Downstream processing

Petroleum Project Economic Evaluation and Risk Analysis

  • Petroleum Economic Terms
  • Cash Flow Analysis
  • Economic Indicators
  • Risk and Uncertainties
  • Decision Tree Analysis
  • Sensitivity Analysis

Strategic Planning

  • Creating a business model
  • Strategic Planning
  • Corporate culture
  • Corporate mission statements - vision and values
  • Communicating the mission and the business model to stakeholders
  • Achieving stakeholder alignment

Budgeting and Finance

  • Implementing strategies through financial planning and budgeting
  • Example of capital budgeting through peer groups
  • Understanding corporate cash flow and project financing
  • Evaluating capital projects by cash flow analysis

Management and Leadership

  • Characteristics of an effective leader
  • Team building and employee empowerment

Project Management

  • Project Management Institute’s (PMI’s) definitions and list of key skills
  • PMI’s knowledge areas
  • How projects are organized and how a leader motivates, delegates and inspires
  • The project charter and critical objectives
  • Managing available resources (finances, time, people, tools and technology)
  • Fundamentals of cost and time management and project quality control
  • Managing project risk
  • Project communications

Fundamentals of Project Control

  • The Scope of Work
  • Work Breakdown Structure (WBS)
  • The WBS as the basis for estimate development and cost control activities
  • WBS as the basis for planning and scheduling
  • The project execution cycle

Cost Management, Planning and Scheduling, Quality Management

  • Scope development and estimate bases
  • Estimates and budgets, the concept of contingency
  • Estimates and probability
  • Project cost control and change management
  • Scope changes and cost trends
  • Project schedule control
  • Quality management

Management Decision Making

  • Making management decisions under conditions of certainty
  • Problem Identification and solving tools
  • A framework for decision making
  • Decision support analysis
  • Making management decisions under conditions of uncertainty and risk
  • The role of probability and risk categorization in decisions
  • Psychology of decision making
  • Communicating a decision

International Business Law

  • Comparative legal systems
  • International contract law
  • The concept of legal jurisdiction
  • Dispute resolution methods and resources
  • Global supply and transportation, title and liability issues

Course Methodology

A variety of methodologies will be used during the course that includes:

  • (30%) Based on Case Studies
  • (30%) Techniques
  • (30%) Role Play
  • (10%) Concepts
  • Pre-test and Post-test
  • Variety of Learning Methods
  • Lectures
  • Case Studies and Self Questionaires
  • Group Work
  • Discussion
  • Presentation

Who should attend

  • This training session will be of interest to managers who aspire to more senior responsibilities within their organizations
  • It will also be useful to project personnel and those employees responsible for successful project execution, quality management and cost and schedule control

Course reviews

Downloadable files