Cost Estimation and Analysis of Well Abandonment Activities

This course will provide a comprehensive grounding in cost estimation good practices, how these apply to well abandonment, and why adoption is of strategic importance in financial planning and cost control.

By the end of this course, participants will learn to:

• Differentiate between both methods of cost estimation and Classes of Estimate
• Build a comprehensive Basis of Estimate using Good Industry Practice
• Appreciate levels of accuracy and their implications
• Identify common risks of cost overrun in well abandonment and how to manage them
• Build a probabilistic estimate and compare this with a deterministic approach for the same workscope
• Utilize cost estimation as a tool for cost control

All individuals involved in abandonment planning, cost provisioning or execution management who would like to optimize their contribution to the well abandonment planning processes will benefit from this course.

The course is suitable to a wide range of professionals but will greatly benefit:

• Well Engineers
• Team Leaders and Managers responsible for abandonment design
• Finance and Technical Cost Estimators responsible for identifying and managing future decommissioning liabilities
• Project Execution Engineers
• Team Leaders and Managers responsible for delivering well abandonment workscopes

• Basic
• Intermediate

Your Expert Course Instructor is a Senior Consultant specializing in the planning and preparations for well abandonment and the strategic planning for decommissioning and abandonment of offshore facilities.

After an initial period working for Shell in the Middle East, the North Sea, and on land in Continental Europe, he has held several increasingly senior management positions in a number of major service companies in the Oil and Gas Sector with responsibility for a range of functions including the introduction of new technology, the development of global marketing strategies, delivery of integrated services projects and service delivery on several well abandonment work scopes.

More recently, he has further specialized in decommissioning and well abandonment working as a consultant on a number of assets, focusing on abandonment method selection, cost estimation and development of decommissioning strategies. In total, he has developed abandonment methodologies for over 1,200 wells across more than 19 regulatory regimes around the world.

He has solid experience of working in both the North Sea and internationally, recently working on decommissioning and abandonment projects in South Africa, Malaysia, Norway and the UK. Responsibilities have included preparing technical guidelines for regulatory agencies, appraising decommissioning and abandonment plans, compiling decommissioning project cost estimates and leading the development of Operator decommissioning strategies and portfolio planning.

Unlock the potential of your workforce with customized in-house training programs designed specifically for the energy sector. Our tailored, in-house courses not only enhance employee skills and engagement but also offer significant cost savings by eliminating travel expenses. Invest in your team’s success and achieve specific outcomes aligned with your organization’s goals through our expert training solutions. Request for further information regarding our on-site or in-house training opportunities.

In our ongoing commitment to sustainability and environmental responsibility, we will no longer providing hard copy training materials. Instead, all training content and resources will be delivered in digital format. Inspired by the oil and energy industry’s best practices, we are leveraging on digital technologies to reduce waste, lower our carbon emissions, ensuring our training content is always up-to-date and accessible. Click here to learn more.

To further optimise your learning experience from our courses, we also offer individualized “One to One” coaching support for 2 hours post training. We can help improve your competence in your chosen area of interest, based on your learning needs and available hours. This is a great opportunity to improve your capability and confidence in a particular area of expertise. It will be delivered over a secure video conference call by one of our senior trainers. They will work with you to create a tailor-made coaching program that will help you achieve your goals faster.
Request for further information post training support and fees applicable