• Understand the reasons and impact of oil price and demand volatility
• Recommend strategic solutions to budget issues
• Measure and control costs effectively in a competitive environment
• Prepare, manage and control budgets in the Oil & Gas sector
• Use budgets to make effective decisions to ensure growth, maintain profitability and reduce risk
• Recommend innovative hedging strategies used by leading international companies to control risk and manage budgets effectively
• Manage projects and contracts using the latest international techniques

To ensure maximum benefit, this training course is specifically tailored to those within the Oil & Gas Industry. It is suitable to a wide range of professionals within the oil & gas industry, but will greatly benefit:

• Key Personnel involved in Cost Control, Budgeting, Project and Risk Management
• Non-technical professionals who require a financial perspective of Strategic Management, Budgeting and Project Management
• Financial Controllers and Internal Auditors
• Those who wish to bring their skills and understanding up to international standards
• Professionals with a desire to improve both, their own and their organisations strategic decisions

Day 1: - FINANCIAL CONTROL IN THE OIL & GAS INDUSTRY

• Oil Price Volatility – The Causes and Impact
• Major Costs in the Oil & Gas Sector
• Controlling Gross Margins and Net Margins
• Cost Classification and Cost Behaviour
• Controlling Fixed and Variable Cosand Activity Based Costing

Day 2: - FINDING STRATEGIC SOLUTIONS TO COST CONTROL

• Re-assessing the Strategic Plan in the light of recent developments
• The need for Growth whilst managing costs
• Managing Working Capital and Cash Flow
• Evaluating and Managing Capital Projects, NPV, IRR and Payback
• Joint ventures; Merger and Acquisition as a solution and growth opportunity
• Finance solutions to growing costs and oil price volatility

Day 3: - BUDGETING IN THE OIL & GAS INDUSTRY

• The Benefits and Limitations of Budgeting
• The Essential Features and Types of Budgets
• Preparing Forecasts and Budgets in a volatile Oil & Gas industry
• Using Budgets as a Management Tool
• Sensitivity; What-if and Break-Even Analysis
• Managing and Controlling Budgets

Day 4: - MANAGING PROJECTS AND CONTRACTS

• Achieving Efficiency of Time, Costs and Quality
• Statistical Estimates of Activity Duration and Costs
• Critical Path Analysis
• Manpower and Resource Planning and Management
• Earned Value Management
• Managing Project Risks

Day 5: - RISK MANAGEMENT TO CONTROL THE BUDGET AND COSTS

• Defining Risk Management and Identifying Costs/Risks to Hedge (Reduce or Eliminate)
• Determining the Hedging Strategy
• Implementing a Risk Management Strategy
• Hedging Oil Price Volatility
• Hedging Exchange Rate Risk; Interest Rate Risk and other risks
• Controlling the Hedge to avoid Speculation
• project Management for the Oil & Gas Industry