SPEI: Asset Management - Tools, Process and Practice

Intended Audience

Reservoir engineers, drilling engineers, facilities engineers, project engineers, project managers, petroleum engineers, production operations engineers & managers, geologists, geophysicists, negotiators, commercial managers, asset managers, multi-disciplinary team leaders, and management


Defining an asset as an exploration license, a discovery, or a producing oil or gas field including all the infrastructure, facilities, equipment, and services, asset management begins with acquisition of the exploration license and continues through exploration, appraisal, development, production, and abandonment. Successfully managing the asset with a view to maximizing its value requires developing a plan, extraordinary attention to discipline quality & integration, a careful management of handovers in lifecycle phases, and a rigorous discipline to continuously improve by conducting well planned post audits.

The instructor has over 30 years of extensive domestic and international experience in many aspects of asset development and management and offers his life time experiences by describing the tools and process used in the development of an asset management plan using a real life example and concludes by highlighting mistakes that are frequently made and often lead to significant erosion in value and a vicious cycle of re-learning the same lessons over and over again.

Topics Covered

Defining the contents of an Asset Management Plan

Providing an Asset Management context by examining External Factors such as fiscal terms, host government policies, regulatory requirements, partner’s and other stakeholders concerns, macroeconomic factors including prices of products and goods and services, and Internal Factors such as company policies, external commitments, resources, decision process and criteria, roles and responsibilities, authority guidelines, rewards, budgeting process and budget constraints

Describing Asset Management Process, key decisions, decision criteria, and deliverables required for the decisions

Multi-disciplinary team members roles, and information needed from each discipline in various stages of the asset life cycle

Managing and monitoring discipline quality

Overview of Asset Management Tools – Decision Mapping, Front End Loading, Decision and Risk Analysis, Value of Information, and Value Improving Practices

Explaining asset management process and tools with a field example

Role of benchmarking, post auditing and continuous improvement

Examples of mistakes that are frequently made in managing assets

Location: SPE Houston Office Training Centre
10777 Westheimer Rd Suite 1075
Houston , TX 77042

Date: Feb. 9, 2010, 8 a.m. - Feb. 10, 2010, 5 p.m.