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4 - AAU - Accounting and Financial Auditing

AAU 130 - Cost Engineering in Oil and Gas Sector

Code Start Date Duration Venue
AAU 130 05 August 2024 5 Days Istanbul Registration Form Link
AAU 130 09 September 2024 5 Days Istanbul Registration Form Link
AAU 130 14 October 2024 5 Days Istanbul Registration Form Link
AAU 130 18 November 2024 5 Days Istanbul Registration Form Link
AAU 130 23 December 2024 5 Days Istanbul Registration Form Link
Please contact us for fees


Course Description

The course covers the application of cost engineering and cost management principles, proven methodologies and the latest technology in support of the management process.  It sheds light on oil and gas sector in particular. It guides participants in the process of organizing and planning an estimate, apply different estimating techniques and the relationship to the design and life cycle of a project. 

Course Overview

  • Understanding the total cost management  and cost engineering
  • Understanding the Total Cost Management through planning
  • Exploring ways of making exploration projects economically feasible
  • Understanding the principles of risk management 

Who Should Attend?

  • Site engineers, planners and cost control engineers
  • Finance, human resources and project managers
  • Engineers who have an impact on cost during their decision making

Course Details/Schedule

Day 1

  • Planning and organizing an estimate
  • Application process and requirements
  • Cost elements
  • Pricing
  • Materials
  • Equipment, parts, and tools
  • Economic costs

Day 2

  • Activity-Based Cost Management
  • Cost Estimating
  • Project planning
  • Critical path method 
  • Progress Measurement and Earned Value
  • Earned Value for Variable Budgets

Day 3

  • Tracking Cost and Schedule Performance
  • Performance and Productivity Management
  • Value Analysis
  • Regression analysis
  • Contracting for Capital Projects
  • Statistics & Probability
  • Risk Management
  • The International System of Units (SI)

Day 4

  • Various Estimation methods 
  • Quantities estimates 
  • Item-cost estimates
  • Capacity factored 
  • Equipment factored 
  • Analytical 

Day 5

  • Cost estimation at different stages 
  • Exploration
  • Drilling and completions
  • Production facilities
  • Regulatory and political environment