Oil and gas budgeting, economics and finance for non-financial managers

Training Course

N/A

Free

This 3-day training course provides participants with insight and understanding of the budgeting process and the key planning and forecasting techniques that should be used to successfully build and manage reliable budgets. This enables fit-for-purpose budgets and business plans to be developed that robustly model complex, but realistic, situations in a flexible and auditable manner. 

Dr David A. Wood B.Sc. Ph.D

Dr. Wood is an experienced consultant, with more than 30 years of international oil and gas experience, and provides technical, fiscal and contractual advice, technical and management training to a wide range of oil, gas and energy entities. He has extensive, economic, financial, fiscal operations, project, risk and strategic management experience with many international energy organizations and assets. 

Industry experience includes Phillips Petroleum, Amoco (Africa, Europe & UK) and Canadian independents (South America, Africa, Middle & Far East) with three years based in Colombia and four years based in Dubai. From 1993 to 1998 he was he was UK Managing Director for Lundin Oil & then Morrison Petroleum responsible for a broad portfolio of assets and a staff of more than 100.

For the past decade he has worked as an independent international consultant and expert witness. He has published an extensive body of work on diverse energy related topics including: the international energy markets, performance modelling of fiscal designs, petroleum economic analysis, enterprise risk & portfolio simulation, LNG, GTL and gas supply, deep-water exploration and production techniques, corporate performance, portfolio and strategy management, mergers & acquisitions, negotiations & project management. 

He is actively involved in diverse professional training, research, publication and development programmes. He is a member of the Energy Institute (MEI) and the Petroleum Exploration Society of Great Britain and associate editor of the Journal of Natural Gas Science & Engineering.


About this course:

All organisations operating in the oil and gas sector must regularly develop, manage and adjust budgets and forecasts to reflect changing market conditions and their competitive performance. To do this successfully and establish credible budgets and business plans that function as useful and user-friendly management tools to monitor and help improve performance, it pays to be aware of and incorporate best budgeting, planning and forecasting practices.

This course provides participants with insight and understanding of the budgeting process and the key planning and forecasting techniques that should be used to successfully build and manage reliable budgets. This enables fit-for-purpose budgets and business plans to be developed that robustly model complex, but realistic, situations in a flexible and auditable manner. 

Who should take this course?

This course is designed for technical, planning and financial specialists and others with budget and planning responsibilities. The course avoids technical and financial jargon and is therefore also suitable for non-technical and non-financial participants.Whether you are an international oil company (IOC) a national oil company (NOC or a service provider to such companies, budgeting, planning and forecasting are essential facets of business management that need to be mastered and understood in the specific context of the oil and gas sector.

Course overview:

Day 1 - Strategic Dimensions to Budgeting and Planning

Day 2 - Forecasting and Benchmarking

Day 3 – Production, Cost and Price Factors

Contact details

Training Team: webtraining@energyinst.org, +44 (0)20 7467 7178