Cost Management in Petroleum Operations

Introduction

This course enhances cost awareness and control techniques in high-cost, asset-intensive operational environments.

Objectives

• Understand cost structures in operations
• Improve cost efficiency and discipline
• Identify cost reduction opportunities
• Support sustainable cost management

Target Audience

• Operations and maintenance leaders
• Engineers and supervisors
• Cost and performance analysts

5-Day Scientific Program

Day 1

• Cost structures in energy operations
• Fixed vs variable costs
• Cost drivers and behavior
• Cost transparency

Day 2

• Operational cost control techniques
• Maintenance and reliability cost impact
• Energy efficiency considerations
• Cost optimization

Day 3

• Cost tracking and reporting
• Variance analysis
• Root cause analysis
• Cost escalation management

Day 4

• Lifecycle costing concepts
• Asset lifecycle cost management
• Reliability vs cost trade-offs
• Long-term cost planning

Day 5

• Case studies
• Lessons learned
• Cost management toolkit
• Improvement action plan