Well Engineering and Production > Cost Estimation and Analysis of Well Abandonment Activities
Code Date Format Currency Team of 10
Per Person*
Team of 7
Per Person*
Early Bird Fee
Per Person
Normal Fee
Per Person
PE1869 25 - 28 Nov 2024 Kuala Lumpur, Malaysia SGD 4,213 4,409 4,699 4,899
PE1869 25 - 28 Nov 2024 Kuala Lumpur, Malaysia USD 3,267 3,419 3,599 3,799

*Fee per person in a team of 7 or 10 participating from the same organisation, registering 6 weeks before the course date
Request for a quote if you have different team sizes, content customisation, alternative dates or course timing requirements
Request for in-person classroom training or online (VILT) training format

Learn in teams and save more! Enjoy group discounts of up to 50% off normal fees for team based learning. Contact us on [email protected] to learn more today!

Code

PE1869

Date

25 - 28 Nov 2024

Format

Kuala Lumpur, Malaysia

Currency

SGD

Team of 10
Per Person*

4,213

Team of 7
Per Person*

4,409

Early Bird Fee
Per Person

4,699

Normal Fee
Per Person

4,899

Code

PE1869

Date

25 - 28 Nov 2024

Format

Kuala Lumpur, Malaysia

Currency

USD

Team of 10
Per Person*

3,267

Team of 7
Per Person*

3,419

Early Bird Fee
Per Person

3,599

Normal Fee
Per Person

3,799

*Fee per person in a team of 7 or 10 participating from the same organisation, registering 6 weeks before the course date
Request for a quote if you have different team sizes, content customisation, alternative dates or course timing requirements
Request for in-person classroom training or online (VILT) training format

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

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

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

Learn what past participants have said about EnergyEdge training courses

The 5-day courses with the trainer were very insightful! His personal experiences on the subject definitely enhanced and deepened my understanding towards decommissioning

Engineer, DNV-GL