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