Risk Management & Governance of E&P Projects: An Integrated View on Governance, Control, Risk Management and Assurance in the Upstream Industry

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    About Course leader

    Jaap Nauta graduated with an MSc in Metallurgy from the Delft University of Technology in 1982 and immediately joined Shell International E&P in the Netherlands as a Corrosion and Materials Specialist. This was followed by a successful series of assignments in Field Development and HSE in the Netherlands, Oman, UK and Syria. In 2001 Jaap returned to the Netherlands as Global Planning Ma...

     

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    Workshop overview

    "What keeps you awake at night ?"

    Global organizations, such as most Exploration & Production Firms, face an increasing number of  local and global risks that can affect their ability to deliver on their business priorities and in some cases even their ability to compete and remain a viable entity.

    Successful firms operate a number of best practice approaches and processes that aim to deal with these risks, and, if designed and operated well, can significantly enhance value creation and ability to compete.

    This course will examine a number of best practices in the areas of governance, control , assurance and compliance, with particular focus on delivery of major projects and the integration across Finance and Technical processes.

    The course will be structured around the following topic areas:

    1. Definitions

    • a. The role of the Board
    • b. Control vs. Assurance
    • c. Risk vs. Uncertainty
    • d. Governance vs. Management

    2. Global trends

    • a. How has the world changed for CEOs in the past 15 years in terms of risk management and regulatory requirements?
    • b. What best practices do we see at Board level and below for dealing with risk
    • c. What can we learn from some high profile cases

    3. Compliance risk

    • a. Key regulatory risks for Oil & Gas Firms
    • b. Tone at the top
    • c. What is an "In control" statement
    • d. Best practices for handling compliance risk

    4. Enterprise Risk Management

    • a. What is it?
    • b. Best practices

    5. Major Oil & Gas Projects

    • a. Key features
    • b. The Stage Gate process
    • c. Managing Risk
    • d. Governance
    • e. Control
    • f. Assurance
    • g. Finance & Technical key processes

    6. Best practices in Project Assurance

    • a. Integrated approach to Control and Assurance
    • b. Line accountability versus Governance
    • c. The Value Assurance Review process

    Who is it for:

    all senior technical and finance staff in Exploration and Production development projects who need to deepen their understanding of corporate governance, risk management and assurance

    All senior staff in projects who need to work effectively across technical and financial disciplines

    Level: mid management

    Senior Project Management , sub-surface, engineering , finance, governance, compliance , Assurance staff

    What will I be able to do after I participate?

    • Have a good appreciation of Governance , Risk and Assurance (GRA) related activities in Oil & Gas firms
    • Understand the Board perspective on GRA and the role of Finance
    • Understand the importance of Business controls in the overall control framework of the firm
    • Apply lessons learnt in Industry for planning and carrying out GRA related activities in a timely fashion, meeting Corporate requirements in a cost effective manner
    • Work effectively across technical and financial functions to deliver fit-for-purpose control and assurance in major Oil & gas projects