Diploma in Petroleum Project Management & Field Development Economics

COURSE OBJECTIVES:

This diploma course in collaboration with Lincoln Professional Academy empowers students with comprehensive knowledge and hands-on experience in managing petroleum projects, emphasizing effective project planning, economic evaluation, and risk management strategies tailored to the oil and gas industry. Through real world case studies and practical activities, participants develop essential skills to manage complex petroleum projects from conception to completion, preparing them to excel in high-demand roles within the industry.

Benefits of joining our Diploma program:

Acquire high-demand project management skills specific to oil and gas.
Industry-recognized certification to enhance your resume.
Comprehensive understanding of petroleum project lifecycle and economics.
Real-world training through hands on projects and simulations.
Specialized risk management and safety expertise.
Master advanced tools like MS Project and Primavera.
Network with industry professionals for future opportunities.
Prepare for lucrative roles in project management and field economics.

Learning Outcomes:

Master Essential Project Management Skills: Develop comprehensive project management capabilities tailored to the petroleum industry, covering the entire project lifecycle and field development.
Evaluate Projects Using Economic and Financial Metrics: Gain the skills to assess project profitability and feasibility with confidence using tools like NPV, IRR, and cash flow analysis.
Implement Risk Management and Strategic Planning: Understand and apply risk assessment and mitigation strategies to optimize project success
Excel in Team Leadership and Stakeholder Engagement: Hone leadership, communication, and team management skills, equipping you to lead multidisciplinary teams effectively.
Use Advanced Project Tools and Software: Gain proficiency in tools like MS Project and Primavera, enhancing your ability to manage project timelines,

Duration: 60+ Hours (3Months)

Prerequisites:

For Freshers: Basic knowledge of the oil and gas industry or a strong interest in learning about petroleum project management. For Professionals: Industry experience or a foundational understanding of project management principles.

Hiring Partners:

We understand the importance of bridging the gap between academic learning and real-world industry experiences. Through strategic collaborations with leading organizations, we provide our students with enriching opportunities for placements and internships. Here's a closer look at some of our valued industry partners, it will open opportunities for

Placements
Internships
Career opportunities

Agenda:

Module 1: Introduction to Project Management in the Petroleum Industry

Overview of Project Management Fundamentals
Importance of Project Management in Petroleum Projects
Key Project Management Phases: Initiation, Planning, Execution, Monitoring, and Closure
Role of the Project Manager in Petroleum Projects
Practical Activity: Case study analysis of a petroleum project.

Module 2: Petroleum Industry Operations & Project Lifecycle

Overview of Upstream, Midstream, and Downstream Projects
Exploration and Production (E&P) Project Life Cycles
Typical Project Phases in Oil & Gas: Feasibility, Engineering, Procurement, Construction, Commissioning, and Handover
Understanding Project Constraints: Scope, Time, Cost, and Quality
Practical Activity: Develop a project lifecycle chart for a hypothetical oil & gas project.

Module 3: Field Development Planning (FDP)

Concept of Field Development Planning
Steps in Developing a Field: Exploration, Appraisal, and Development
Types of Petroleum Fields: Onshore, Offshore, Deepwater, Shale
Production Profiles, Recovery Rates, and Production Strategy
Regulatory and Environmental Considerations in FDP
Practical Activity: Create a simplified Field Development Plan for a discovered oil field, including key milestones.

Module 4: Project Planning and Scheduling

Developing a Project Plan (Scope, Objectives, Deliverables)
Work Breakdown Structure (WBS) and Task Dependencies
Introduction to Gantt Charts and Critical Path Method (CPM)
l Path Method (CPM) - Resource Allocation and Schedule Optimization
Practical Activity: Create a Gantt Chart and WBS for a drilling project using project management software (e.g., MS Project or Primavera).

Module 5: Petroleum Economics and Financial Modeling

Introduction to Petroleum Economics: Key Concepts (Net Present Value (NPV), Internal Rate of Return (IRR), Payback Period)
Cash Flow Analysis in Oil & Gas Projects
CAPEX and OPEX Estimation
Economic Evaluation of Oil and Gas Fields
Sensitivity and Scenario Analysis
Practical Activity: Perform an economic evaluation of a field development plan, using NPV and IRR to assess profitability.

Module 6: Risk Management in Petroleum Projects

Identifying and Assessing Risks in Oil & Gas Projects
Risk Categories: Operational, Financial, Environmental, and Political
Risk Response Strategies: Avoidance, Mitigation, Transfer, and Acceptance
Developing a Risk Management Plan
Practical Activity: Conduct a risk assessment and develop a risk management plan for an offshore project.

Module 7: Cost Estimation and Budgeting

Cost Estimation Techniques: Bottom Up, Parametric, Analogous
Project Budgeting in Petroleum Projects
CAPEX and OPEX in Oil and Gas Projects
Cost Control and Monitoring: Earned Value Management (EVM)
Practical Activity: Develop a cost estimate and budget for a well drilling project.

Module 8: Procurement and Contract Management

Procurement Processes in Petroleum Projects
Types of Contracts: Lump Sum, Cost-Plus, Time & Material
Vendor Selection and Management
Contract Risk and Performance Monitoring
Practical Activity: Draft a procurement plan and basic contract structure for a midstream project.

Module 9: Health, Safety, and Environment (HSE) in Project Management

HSE Regulations in Petroleum Projects
HSE Risk Assessment and Mitigation Strategies
HSE Management Systems and Safety Audits
Incident Response and Emergency Planning
Practical Activity: Prepare an HSE plan for a construction project in the oil field.

Module 10: Leadership and Team Management

Leadership Styles in Project Management
Effective Communication in Multidisciplinary Teams
Conflict Resolution and Problem Solving
Stakeholder Management and Engagement
Practical Activity: Role-playing activity to simulate conflict resolution within a project team.

Module 11: Project Execution and Monitoring

Project Execution Strategies in Petroleum Projects
Performance Metrics and KPIs for Petroleum Projects
Project Tracking Tools (e.g., Dashboards, Earned Value Analysis)
Handling Scope Changes and Project Variations
Practical Activity: Develop a project monitoring dashboard for a refinery construction project.

Module 12: Project Closeout and Lessons Learned

Project Handover Procedures and Documentation
Final Project Audits and Reviews
Capturing and Sharing Lessons Learned
Continuous Improvement in Petroleum Projects
Practical Activity: Create a closeout report for a completed oil field development project.

Final Assessment

Final Project Presentation: Students present their project plan, including planning, risk management, field development, and cost estimation for a petroleum project.
Course Completion and Feedback Session.

Key Benefits

Career-Ready Expertise: Gain specialized project management skills highly valued in the petroleum industry, making you a strong candidate for roles in field development, project management, and petroleum economics.
Hands-On Learning for Real-World Impact: Participate in practical exercises and simulations that prepare you to lead complex projects, manage teams, and make strategic decisions from day one on the job.
Certification for Career Advancement: Attain a diploma that highlights your expertise, setting you apart in the job market and increasing your prospects for career progression in oil and gas.
Expanding Industry Networks: Build valuable connections with industry professionals and peers, opening doors for future opportunities, mentoring, and career growth.
Comprehensive Knowledge of the Project Lifecycle: From initiation to closeout, understand every phase of project management in the petroleum sector, making you an asset in any project-driven role.

Frequently Asked Questions:

It’s ideal for professionals in the oil and gas sector or fresh graduates aiming to pursue project management roles.

Basic understanding of the oil and gas industry; freshers with an interest in petroleum project management are welcome.

Roles in project management, field development planning, and petroleum economics across the oil and gas sector.

Yes, each module includes case studies, practical exercises, and project simulations.

Students will present a complete petroleum project plan covering all essential project management phases.

Yes, we offer networking events and provide access to industry job portals.

MS Project, Primavera, and industry-standard tools for scheduling, budgeting, and project monitoring.

Yes, the course is structured to accommodate part-time learners.

fees – 300 USD or 22,500 INR (Discounted offer for first 10 participants ).

Yes, a recognized diploma certificate from Lincoln Professional Academy in Petroleum Project Management will be awarded.

It builds foundational skills in project management, making you job-ready for entry-level roles in petroleum project management.