Optimizing the value of Oil and Gas Fields from Inception to Abandonment

Management and Information

Course Description

This course is designed to equip the attendees with the process, practice, and tools to optimize value during the field life. It will utilize a variety of proven adult learning techniques to ensure maximum understanding, comprehension, and retention of the information presented including Interactive Dialogue, Class Exercises, Working in Teams, Simulating real-life meetings with the Operator, Partners and the Government, and a healthy dose of the art of Negotiation. 

An Oil or Gas field is born following successful exploration and appraisal of the discovery. Following the discovery, it is managed in some Companies by multi-disciplinary teams (MDTs), and in others, by various technical disciplines as needed, each taking responsibility for their piece only. Without single point accountability for the field and an explicit focus on value optimization, in this latter approach, there can be a significant loss in value during the life of the field. Some reasons for loss of value are:  a sub optimized basis of design, a lack of full understanding of risks and uncertainties leading to schedule delays and cost overruns, ignoring life-cycle costs in favor of alternatives that reduce upfront Capital Investments, and being in a ‘hurry’ to sanction projects. These and other reasons contribute to a failure rate upwards of 65% in development of larger fields (“The seven deadly mistakes in Industrial Megaprojects” Ed Merrow, January 6, 2012). The course will feature:

  • The art of developing a Field Management Plan
  • Portfolio Management
  • Field Management Processes
  • Critical decisions, deliverables, performance metrics
  • Highly effective multi-disciplinary teams
  • Discipline integration and maintaining discipline quality
  • Making decisions under uncertainty using decision support Tools like: Decision Mapping, Front End Loading, Decision & Risk Analysis, Value of Information, Value Improving Practices
  • Common mistakes in managing fields
  • Participate in solving a real case with real data and learn the dynamics of dealing with Partners, Government, and Operators

Courses of this type are near mandatory in any price environment but especially in the prevailing environment of low oil and gas prices and increasingly complex resource developments where the knowledge gained can pay good dividends.

Learning Level

Introductory, Intermediate, or Advanced

Course Length

2 Days – inclusive of 3 hours executive level

Why Attend

Courses of this type are near mandatory in any price environment but especially in the prevailing environment of low oil and gas prices and increasingly complex resource developments where the knowledge gained can pay good dividends.         

  • Develop a good understanding of the relationship between Field Management, Portfolio Management, and Business Plans and use this knowledge to develop more realistic Field Management goals
  • Understand the technical and commercial drivers that impact value and use them to optimize value
  • Understand the Field Management Process and learn about the deliverables needed to make major informed and robust decisions in the value chain
  • Learn about the concepts and tools used in Field Management: Front End Loading, Decision Mapping, Decision and Risk Analysis, Value of Information Analysis and Value Improving Practices
  • Apply the principles to a real life Case Study and through deliberations learn how to create value for the Company
  • Understand the most common mistakes made in the Management of Fields and learn how to identify and avoid them thus preventing significant value erosion for the Company

Who Attends

This course is suitable for a wide range of professionals involved either full time or part time in managing oil and gas fields but will greatly benefit:

  • All discipline engineers in the Company (Reservoir, Drilling, Production, Petroleum, Project, Facilities, etc.)
  • Geoscientists
  • Field (Asset) Managers
  • Business Development, Commercial Managers, Joint Interest Managers
  • Operations Managers and Operations Superintendents

Special Requirements

Attendees must bring a laptop to class.


1.6 CEUs (Continuing Education Units) are awarded for this 2-day course.

Cancellation Policy

All cancellations must be received no later than 14 days prior to the course start date. Cancellations made after the 14 day window will not be refunded.  Refunds will not be given due to no show situations.

Training sessions attached to SPE conferences and workshops follow the cancellation policies stated on the event information page.  Please check that page for specific cancellation information.

SPE reserves the right to cancel or re-schedule courses at will.  Notification of changes will be made as quickly as possible; please keep this in mind when arranging travel, as SPE is not responsible for any fees charged for cancelling or changing travel arrangements.

We reserve the right to substitute course instructors as necessary.

Full regional cancellation policies can be found at the Cancellation Policy page within the SPE Training Course Catalog.


Alok Jain is a director of Asset Management Solutions, a training and consulting firm that he formed after taking retirement from ConocoPhillips in late 2003. In his 22 years with Conoco, Jain served in technical and leadership roles in asset management, project management and reservoir engineering. Prior to Conoco, he worked for 11 years in the petroleum industry in Canada, United States, and Libya in economic evaluation, reservoir engineering and development, and as a reservoir simulation engineer with Gulf Oil Company in Venezuela, Nigeria, and Canada.

Jain holds a BS in chemical engineering from Panjab University, India, a postgraduate diploma in petroleum refining and petrochemicals from the Indian Institute of Petroleum and an MSc in petroleum engineering from the University of Alberta in Canada.

The attendees will have an opportunity to learn from an upstream oil and gas professional with 40+ years of technical, commercial and senior leadership roles and who brings a wealth of practical experience, examples, and hard lessons learned. Material is presented in an easy to understand manner, with the appropriate context to ensure it can be best applied.