RESCHEDULED
WORKSHOP
IHRDC’s highly regarded, all-digital E&P project management workshop allows teams to participate in different simulated E&P settings - in this workshop we will focus on today’s two significant exploration opportunities: a deepwater offshore West Africa oil prospect and a unconventional coalbed methane opportunity in Australia. The teams are asked to use the stage-gate process to manage the exploration, development, and production of these opportunities over a simulated 25-year life cycle. The financial performance of each team is measured against original expectations and the team with the best performance wins the Team Prize. This “classic” IHRDC workshop never fails to receive high praise from participants.
The two opportunities to be considered in this program are shown below:
ATLANTICA : THE WEST AFRICAN
OFFSHORE EXPLORATION OPPORTUNITY
The setting is the “Republic of Atlantica”, an island republic off the coast of West Africa that currently has no oil and gas production; however, a major discovery has been made across the border offshore Nigeria. Although your primary objective is to create value for your shareholders, you also share in the vision of the country’s new democratic government “to exploit the potential resources of Atlantica to bring it into the 21st Century.” The teams will compete with others to explore for and develop an upstream oil and gas company over its simulated project development and execution cycle. The objective is for participants to learn, within a team environment, the processes required to develop an offshore exploration opportunity while making a set of strategic investment decisions.
TAURUS : THE AUSTRALIAN COAL SEAM
GAS EXPLORATION OPPORTUNITY
Straight Exploration Company (SEC) holds substantial leasehold acreage in the Surat Basin, West of Brisbane, Queensland, Australia, which is known to contain large coal seam gas resources at a subsurface depth of about 500m. SEC intends to explore this large prospective area and, if sufficient resources are discovered, to develop and market the gas to satisfy domestic demand and, if reserves are sufficient, to export the excess as various potential gas markets. Teams will be asked to apply the stage-gate project management process, to frame their recommendations at different stages in the development process. They will have access to experienced mentors for advice during the Workshop sessions and will be asked to prepare and make formal presentations of key decisions.
WORKSHOP SESSIONS
Both workshops will follow the “stage-gate” project management process covering the following types of activities and decisions:
Stage One:
Assessing the Opportunity for Deepwater and Unconventional Gas Projects
- Prepare project economics using analog information and vision of success.
- Obtain exploration permits and approvals.
- Define geological settings and seismic and other exploration processes for each opportunity.
- Plan exploration wells and associated formation evaluation program.
- Complete project economics using exploration and other information.
- Obtain approval to move to Stage Two.
Stage Two:
Assessing Alternative Development Options
- Use exploration data to analyze the development options for both opportunities.
- Prepare several subsurface and surface plans for each option.
- Select preferred option, estimate costs and prepare economic analysis.
- Recommend the preferred alternative.
Stage Three:
Prepare Plan for Preferred Development Alternative
- Prepare subsurface and subsurface plans.
- Prepare HSE and financing plan.
- Summarize all required legal documents.
- Authorize front end engineering and capital cost estimate.
- Obtain government permits and approvals.
- Finalize project economics.
- Prepare presentation for major funding approvals.
Stage Four:
Design and Construct Facilities
- Complete Final Design and Project Implementation Plan.
- Issue “Request for Proposal” (RFP).
- Select Project Manager and incorporate project management practices.
Stage Five:
Manage Project over Production Life
- Identify key management and operating roles.
- Introduce competency management system.
- Manage facilities and subsurface performance.
At the end of the program, teams will be asked to compare the two project opportunities and prepare a summary presentation for each opportunity.