Training Syllabus:




This course is prepared in 2 phases where first phase will explain regarding project financial understanding when valuing oil and gas assets. Executing a petroleum related project such as field development, evaluate various investment opportunities by determining economic indicators and sensitivity analysis. Understanding techniques for predicting profit, production, costs, and cash flow for optimum results. Familiar with economic indicators, risk and uncertainty, Gain knowledge on different economic structures such as tax regimes and production sharing contracts.

This 1st phase course is also designed to give a better understanding of Reserves and Resource Definitions and Guidelines for Classifications. Various aspects of the evaluation of hydrocarbon reserves as well as learn how to use reserves reports and studies.

2nd phase of course will explain regarding to manage a complex and risk-laden project successfully you may need a comprehensive and effective management tool. This course will give you the latest concepts, methods and practices used by progressive companies worldwide to manage projects to achieve technical and financial success.


The content of this course phase is based on a structured gate approach to develop a business case, project scope definition and execution planning for successfully result in developing complex projects. The course participants will use Front End Loading (FEL) methods to apply the project management techniques discussed in the course.


The course of whole project from beginning to end will take time for 5 days as follow: 2.5 (two and half) days for Project Economic and 2.5 (two and half) days for Project Management.



1st phase of the course,

  1. Understand various economic terms used in the oil & gas industry
  2. Understand how to develop economic models of various petroleum fiscal regimes
  3. Carry out cash flow analysis and determine economic indicators
  4. Carry out different economic analyses for petroleum related projects
  5. Carry out a comprehensive economic evaluation study for any petroleum related project including risk analysis and sensitivity study using spreadsheet
  6. Understand reserves measurement methodology
  7. Understand reserves and resource definitions and guidelines for classification
  8. Understand the relation between technical and commercial aspects of resources
  9. Understand the process performed by independent evaluator in performing reserves certification
  10. Case studies

2nd phase of the course,

  1. Select leadership techniques to increase the probability of your success.
  2. Apply the concepts of complexity science to project management.
  3. Determine the true complexity, with a clear understanding of variables involved and move forward to develop a plan that provides the right level of control and flexibility for success.
  4. Use a stage-gate methods and Independent Project Analysis (IPA) database to assess your goals & business case for better results in developing complex project.
  5. Determine a new approach to applying already know project manage-ment knowledge, skills, tools and techniques, and it will enable you to assess your projects complexity.
  6. To deploy the most relevant techniques to achieve project success.



  1. Economic Indicators
  • Present Value Concept
  • Discount Factor
  • Net Present Value
  • Internal Rate of Return
  • Payback Period
  • Profit/Investment Ratio
  • Comparing Economic Indicators
  1. Risk and Uncertainties
  • Risk & Uncertainty
  • Expected Value Concept
  • Decision Tree Analysis
  • Sensitivity Analysis
  • Spider and Tornado Diagrams
  • Probability Distribution
  • Monte Carlo Simulation
  1. Production Sharing Contract (PSC)
  • Production Sharing Contract (PSC) Definitions and Guidelines
  • Develop PSC Model
  1. Reserves and Resources Definitions and Guidelines for Classification
  • Petroleum Resources Management System (PRMS), Definition and Guidelines
  1. Reserves Reporting Requirements
  • Security Exchange Commission (SEC)
  • Due Diligence and Audit Process
  1. Reserves Reporting Reporting Requirements
  • PSC Economic Model for Reserves Audit
  • Valuation of Reserves
  1. Executive Overview of Project Management
  • What is a Project and Project Management
  • What is Program Management
  • Benefits and Obstacles of Project Management
  • Basic Concepts of Project Management
  • Defining Roles of Leadership in a Project
  • What are Complex Systems
  • Stage-Gate :
  • What is the Stage-Gate®Process?
  • How Does the Stage-Gate®Process Work?
  • What are the benefits of using the Stage-Gate®Process?
  • Standardized work process with Front End Loading (FEL)
  1. Project Management Process
  • The Management Process
  • The Project Management Process
  • The Project Life Cycle
  • Project Life Cycle and Uncertainty
  • Project Scope Planning
  1. Work Breakdown Structure (WBS) and Organizational Structures
  • Work Breakdown Structure
  • Organizational Structures
  • Selecting the Organizational Form
  • Selecting the Project Manager
  • Building the Project Team
  • Complex Systems: Organizational Issues
  1. Bounding Project Scope
  • Stakeholders
  • Requirements
  1. Project Classification Frameworks-Creating the Project Charter
  • Project Charter Elements
  • Examples
  1. Leading and Managing the Project Team
  • Difference Between Management and Leadership
  • Power and the Influencing of Behavior
  • Situational Aspect of Leadership Styles and Follower Readiness
  • Team-Building and Conflict Resolution Techniques
  • Successful Motivation Practices
  • Effective Leader Communications
  1. Task Planning & Introduction to Estimation
  • Cost & Time Estimates
  • Equipment Driven Activities
  • Labor Driven
  • RAM
  1. Project Network Modeling
  • Introduction to Networks
  • Creating the Network
  • Determining the Critical Path
  • Gantt Charts
  • Fast-Tracking The Project Schedule
  1. Project Management Software
  • MS Project, Primavera and Other Software Packages
  • Resource Leveling and Project Budget
  • Resource Leveling
  • Generating a Project Budget
  • Management Reserve/Contingency Funds
  • Budget Estimation Tips
  1. Project Control
  • Elements of Project Control
  • Earned Value Analysis
  • Change Control and Configuration Management
  1. Risk Management
  • Risk Management Process
  • Identifying Risks
  • Qualitative and Quantitative Techniques
  • Risk Mitigation
  1. Evaluating, Directing, and Closing Out a Project
  • Independent Assessments
  • Project Closeout
  • Lessons Learned



Oil & gas professionals such as project managers, project engineers, project support managers & their staff, project planning &  cost controller, auditors, inspector, geologists, economists, accountants, technicians who need to learn how to conduct economic evaluation and to understand the role of petroleum economics in investment decision making and also to understand the oil & gas project management. This program is also recommended for non-technical financial professionals whose work relates to the petroleum industry, supervisors & managers in the Exploration, Production, Financing and Bank & Insurance Company.


INSTRUCTOR :   Pulung Susilo Rahardjo


VENUE :  Jakarta (Maxone Hotel Menteng, Balairung Hotel Matraman, Sentral Hotel, Haris Tebet, Gd Muamalat Institute, Ibis Manggadua, Little Amaroossa Residence, Cosmo Amaroossa, Zodiak MT. Haryono, Grand Tjokro)


DURATION :   4 days



  1. 06 Jan 2020-09 Jan 2020
  2. 10 Feb 2020-13 Feb 2020
  3. 02 Mar 2020-05 Mar 2020
  4. 06 Apr 2020-09 Apr 2020
  5. 12 Mei 2020-15 Mei 2020
  6. 08 Jun 2020-11 Jun 2020
  7. 07 Jul 2020-10 Jul 2020
  8. 10 Agust 2020-13 Agust 2020
  9. 08 Sep 2020-11 Sep 2020
  10. 12 Okt 2020-15 Okt 2020
  11. 09 Nop 2020-12 Nop 2020
  12. 08 Des 2020-11 Des 2020




  1. 8.750.000/person (full fare) or
  2. 8.500.000/person (early bird, payment 1 week before training) or
  3. 8.250.000/person (if there are 3 persons or more from the same company)



  1. Training Module
  2. Flash Disk contains training material
  3. Certificate
  4. Stationeries: NoteBook and Ballpoint
  5. T-Shirt
  6. Backpack
  7. Training Photo
  8. Training room with full AC facilities and multimedia
  9. Lunch and twice coffeebreak everyday of training
  10. Qualified instructor