Oil & Gas MBA - Mildwaters Consulting LLP

“Above my expectations!!! The course provided
me with perfect insight into economics of gas
and oil industry as well as its specifics in
accountancy, negotiating contracts. This will
help me a lot in my career.”
Kamran Khanmammadov, Sales Manager, Azerbaijan (Shah Deniz) Ltd
23 CPD
hours
6-10 December 2010, London
The ‘Mini-MBA’
for the Oil & Gas
Industry
Save 30%
with The Falconbury
Partnership Scheme
visit: www.falconbury.co.uk
for details
Increase your commercial and strategic
understanding of the Oil and Gas industry at this
exclusive 5-day international business school
www.falconbury.co.uk
Is this ‘Mini-MBA’ development
programme for you?
DESIGNED FOR: High achieving directors
and executives, senior managers, new
managers and technical specialists from
NOCs and IOCs in the Oil and Gas Industry.
INDUSTRY REVIEW • FINANCIAL AND COMMERCIAL MANAGEMENT • CONTRACT LAW AND MANAGEMENT • CASE STUDY LEARNING •
STRATEGIC LEADERSHIP • GLOBAL ANALYSIS • ECONOMIC AND STRATEGIC BREAKDOWN • HUMAN CAPITAL DEVELOPMENT • INDUSTRY
REVIEW • FINANCIAL AND COMMERCIAL MANAGEMENT • CONTRACT LAW AND MANAGEMENT • CASE STUDY LEARNING • STRATEGIC
LEADERSHIP • GLOBAL ANALYSIS • ECONOMIC AND STRATEGIC BREAKDOWN • HUMAN CAPITAL DEVELOPMENT • INDUSTRY REVIEW •

The ‘Mini-MBA’
for the Oil & Gas Industry
Save 30%
with The Falconbury
Partnership Scheme
visit: www.falconbury.co.uk
for details
The global Oil and Gas industry presents a constant stream of challenges for
all organisations working within it. The markets are undergoing major structural
change, there is continual uncertainty and volatility of prices, indecision over
integration and the role of the NOCs and the environmental issues brought to
the forefront by the recent BP crisis. These are just some of the critical strategic
issues facing managers in this transforming industry. If you don’t have the
commercial awareness, solid understanding of the business drivers and the
decision-making skills necessary to traverse the commercial maze successfully
then neither yourself nor your business will survive.
This global Mini-MBA has been designed to deliver the core curriculum from an
academic business school programme intertwined with solid, practical and
current Oil and Gas Industry know-how. It will provide you with an invaluable
understanding of the essentials of working within the industry, while developing
your knowledge and capability as a key manager for your organisation.
The industry faces a challenging and competitive time for resources,
opportunities, customers, qualified employees and for capital. In order to operate
at the top of the field you need to have current industry know-how combined with
exceptional business and management skills. This 5-day practical and intensive
programme offers just that in a environment away from your organisation that will
allow you the space and time to think strategically, and act commercially.
Expert industry faculty
Falconbury have brought together a highly respected training faculty from both
industry and management to design and deliver this unique programme. Under
their guidance you will be able to step away from the daily issues and refine
your commercial awareness and operational effectiveness to ensure you
achieve your potential within your organisation and ultimately your career.
What this programme will do for you
By attending this programme you will:
• Sharpen your appreciation of the economics of Oil and Gas to understand
the driving forces behind the industry
• Reinforce your decision-making capabilities through understanding the
strategic, commercial and financial aspects of the industry
• Understand the financial impact that you can have on your organisation
and its profitability
• Develop an understanding of the importance of contracts in Oil and Gas
projects
• Understand the key questions and areas you should be addressing as a
manager who needs to be more commercially aware
• Enhance your strategic leadership and people management techniques to
allow you to leverage the most out of you, your team and your business
partners
• Develop your understanding of the strategic issues for NOCs and IOCs
Continuing professional development
This course represents 23 hours of practical and intense continuing
professional development in an international business school environment.
© 2010 Falconbury Ltd
Oil and Gas industry context
This programme has been specifically designed
for managers and executives working within the
oil and gas industry who want to improve their
general management capability and explore
what the high achieving executives of the
industry are thinking and doing.
Business cases, examples and exercises based
on and built around real-life scenarios have been
specifically developed for this programme.
Participants will work in groups throughout the
course applying key techniques learnt in Oil and
Gas and, on occasion, comparing the results to
real-life outcomes in companies using a unique
case study developed solely for this programme.
Is this course for you?
• This programme is suitable for all managers who
wish to raise their commercial awareness of the
global Oil and Gas industry
• All managers in the industry who need to see
how the whole ‘picture’ fits together.
• Specialists; geologists, geophysicists,
economists, finance, engineering – all those who
have managerial roles and need to focus on the
commercial success of their projects
• Executives who have worked in other industries
that need a good overview of the Oil and Gas
industry
• Managers who have worked in Downstream who
are now working in Upstream
• Bankers and financiers
• Government representatives in Oil and Gas
• Executives working in NOCs and IOCs
Comments from past ‘Mini-MBA’ Oil & Gas
programmes
“Really enjoyed it.”
Rudolf Elias, Deputy Director Business Development,
State Oil Company Suriname NV
“A well put together and interesting
course providing good insight and
useful context to the issues facing
the industry. Also develops skills
required for everyday use when
working in the industry”
Sophie Outram, Associate, Booz & Company

Programme
6-10 December 2010, London
1 Economic, Commercial 2 Financial Management in the
and Strategic Drivers of Oil and Gas Industry
Oil and Gas
This module will provide an insight into
Oil and Gas, both historically and
currently, and how their markets
remain clearly in the regulatory and
policy spotlight. It will also consider
the drivers and nature of the structural
change which is transforming
international Oil and Gas which will
affect the investment and operating
environment. The way in which these
changes will shape the development
of the industry needs to be addressed
in assessing your organisations
commercial and strategic options.
WHY OIL AND GAS MATTERS
• Petroleum as an industry of feast
or famine – the reasons and the
consequences
• Oil as a global market and gas as a
regional market
• The vertical integration of
petroleum companies. How it has
changed and why the IOC
experience has differed from the
NOC experience
• The current and future state of oil
prices
• The relationship between oil prices
and gas prices
• Developments in international gas
markets and the growing role of
LNG
• International transport of gas – the
issues
• NOC and IOC relations
• Managing oil and gas price volatility
The Oil and Gas industry is
characterised by its high
levels of risk investment
and the all-too-often timelag
before returns can be
generated, if at all. Taking
a demystifying and
practical approach in this
module we analyse the
financial fundamentals of
the Oil and Gas industry in
such a way that you will
understand how finance
and management
accounting departments
tackle the main issues
involved. You will gain
valuable insights into the
financial impact you can
have on your organisation
and its profitability.
THE BUSINESS MODEL
• How cash ‘flows’ in an
organisation
• Equity, debt and
leverage
• The difference between
turnover, cash and profit
• Capital expenditure
(Capex), operating
expenditure (Opex)
• Working capital
FINANCIAL TERMINOLOGY
AND POLICIES
• Gross and net margins
• Depreciation, depletion
and amortisation
• Impairment and
decommissioning
• Revenue recognition
• EBIT and EBITDA
• Reserves
KEY FINANCIAL
STATEMENTS
• Operating Statement
(Profit and Loss)
• Balance Sheet
• Cash Flow Statement
KEY BUSINESS RATIOS
• Specialist ratios that
apply to Oil and Gas
operations – reserve
cost and reserve value
ratios (Case Study:
Shell)
• The Profit Improvement
Model (Price, volume
and cost relationship)
• The Balanced Score
Card
Review of an IOCs
financial results
CAPITAL PROJECTS
• The principles of
investment appraisal
• The key methods
(payback period, net
present value and
internal rate of return)
• Uncertainty and risk
3
Oil and Gas
Contracts – What
You Need to Know
This module will consider the
contract matrix that makes up an
Oil and Gas project, ask what the
contracts are designed to achieve
and consider the key principles
that underpin the contracts. It will
also review how the contracts
seek to allocate and control risk
and allocate reward.
The role of the State in the
contract matrix is also discussed
particularly looking at issues such
as the renewed instability of the
underlying legislative regime, calls
for nationalisation and
renegotiation and how they might
be managed.
THE CONTRACT MATRIX
• Who are the parties to oil and
gas projects
• Why do they work together
• The role of parastatal
enterprises
• What contracts make up the
matrix
– What are the contracts
designed to achieve
PRINCIPLES UNDERPINNING THE
CONTRACTS
• Contract
• Partnership
• Agency
• Fiduciary obligations/duties
• Confidentiality
DAY 1 DAY 2 DAY 3 DAY 4 DAY 5
MODULE 1:
Introduction
Economic, Commercial
and Strategic Drivers of
Oil and Gas
Professor Paul Stevens
MODULE 2:
Financial Management in
the Oil and Gas Industry
George Fildes
MODULE 3:
Oil and Gas Contracts
– What You Need to Know
Dr Ken Mildwaters
MODULE 4:
Strategic Leadership and
Management in the Oil
and Gas Industry
Paul Blackhurst
Lunch Lunch Lunch Lunch Lunch
MODULE 6:
Long Term Issues for Oil
and Gas
Professor Paul Stevens
BUSINESS CASE WORK BUSINESS CASE WORK BUSINESS CASE WORK BUSINESS CASE WORK
Economic, Commercial
and Strategic Drivers of Oil
and Gas
Professor Paul Stevens
Financial Management in
the Oil and Gas Industry
George Fildes
Oil and Gas Contracts
– What You Need to Know
Dr Ken Mildwaters
MODULE 5:
Strategic Issues for NOCs
and IOCs
Professor Paul Stevens
Business Case
Presentations
Professor Paul Stevens
Four easy ways to book Tel: +44 (0)20 7729 6677 Fax: +44 (0)20 7729 6110

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4
Leadership and
Change in Oil
and Gas
5
Strategic
Issues for IOCS
and NOCS
6
Long Term Issues
for Oil and Gas
ALLOCATION AND CONTROL
OF RISK
• The role of the operator
• The Operator/Non-operator
relationship
• Contracting with third
parties
• Non-performance and
liability
ALLOCATION OF REWARD
• Receipts by the operator
• Benefit of contracts
entered into by the
operator
• The right and obligation to
take production in kind
• Arrangements to lift
and/or take production
THE ROLE OF THE STATE
• Participation
• Stability
• Enforcement
OIL & GAS
IN-HOUSE
TRAINING
www.falconbury.co.uk/inhouse
Falconbury work with global Oil
and Gas companies to design
and deliver training programmes
in-house. Our In-house team run
finance, strategic and
understanding oil and gas
industry courses for mid to
senior management.
For more information please
contact Caroline Glen on:
+44 (0)20 7729 6677
or email:
inhouse@falconbury.co.uk
Oil and Gas organisations face
many strategic challenges including
what type of organisation to be,
where to compete, how to position
against competition. However,
implementing any strategy
successfully requires a careful mix
of leadership and management
techniques throughout the
organisation. Recent cases have
highlighted that trade-offs need to
be made and choices clearly
communicated in all areas, but
especially in the key challenges
between safety, environmental and
profitability issues. Add to that the
challenge of working across
cultures and different drivers being
a leader in this industry becomes
complex. This module will enable
you think through these issues and
to create some action plans for
yourself and your real team
members.
• What are the main challenges in
leading and managing people?
• Leadership versus management
– where should we invest our
time?
• The inevitability of change –
how to keep focused on the
changing environment
• Creating the culture –
demonstrating through action
the balance between safety
environmental and profit issues
• How communication really
happens
• Working with different cultures
• Action Planning
NOCs are becoming the
main industry players with
their control of over 70
percent of proven oil
reserves. At the same
time, there is growing
concern over the future of
the IOCs as they struggle
to generate sufficient
shareholder value to
ensure their survival. Both
have differing management
objectives and strategies.
This module will consider
the strategic issues facing
both types of company and
also consider their future
roles, both individually and
collectively.
• The financial strategy of
the IOCs
• Why the IOCs have been
struggling to generate
shareholder value?
• What are the future
strategic options for the
IOCs?
• What are the prospects
for another round of IOC
mega-mergers?
• What are the different
types and strategies of
NOCs?
• How to measure the
performance of NOCs?
• What is the “national
mission”?
• What future directions
might the NOCs take?
“I never thought that I would learn so many
important things in such a short period of time.
Very well structured course”
Georgios Poularas, Managing Director, Bernhard Schulte (Hellas) SPLLC
This will identify and discuss the
key elements determining the
international Oil and Gas
operating environment in the next
20 years. In particular it will focus
on the major structural changes
which are taking place in terms of
oil demand, supply and pricing as
well as environmental drivers. In
addition it will address issues
arising from the shifts in relative
power between the producers and
consumers; East and West. What
are the implications for your
organisation?
• Oil prices and the market –
what happens next?
• Is the supply squeeze real –
can it be avoided?
• How will oil demand adapt to
supply limitations?
• How will the industry structure
change in the context of
IOC/NOC relations
• The growing internationalisation
of gas markets
• Prospects for Oil and Gas in
low carbon transition
BUSINESS CASE
PRESENTATIONS
This module will run
throughout the programme
and is the opportunity for
participants in small project
teams to present a
business case to a panel.
Individuals will be
encouraged to draw on the
insight and learning from
each of the preceding
modules to inform thinking
in formulating their
business cases. The panel
will be invited to listen to
the final business case
presentations from the
project teams, question
their thinking and then
provide feedback and
evaluation.
Email: bookings@falconbury.co.uk Online: www.falconbury.co.uk

Expert training faculty
Course Director
Professor Paul Stevens has been involved with the International oil and gas
industry for over 35 years. In March 2009 he was presented with the OPEC Award
in recognition of an outstanding contribution to the understanding of the
international oil industry. He was educated as an economist and as a Middle East
specialist at Cambridge University and the School of Oriental and African Studies
in London. He has successfully combined an academic career with extensive
consulting activity. He has taught at the American University of Beirut in Lebanon,
the University of Surrey in England, Imperial College London and the IFP in Paris.
He has been the professor of Petroleum Policy and Economics at the Centre for
Energy Petroleum and Mineral Law & Policy, University of Dundee, Scotland, since
BP created the Chair in 1993 and its currently Senior Research Fellow (Energy) at
Chatham House (The Royal Institute of International Affairs) in London.
Paul has acted as a consultant to numerous clients including BP, Shell, Saudi
Aramco, The World Bank, The Asian Development Bank the EU, and on a
governmental level with China, Colombia, Japan, Lebanon, Papua New Guinea,
Peru, Qatar, Romania and Saudi Arabia. He has also had considerable experience
in running professional training courses, including those linking economic
concepts with the practicalities of the international petroleum business and the
impact of political factors. Such courses have been run in the US, UK,
Netherlands, UAE, Papua New Guinea, Peru, Romania and Venezuela.
Course Presenters
Booking your place
To reserve your space on this
exceptional development programme
please send your booking via:
Email bookings@falconbury.co.uk
Web www.falconbury.co.uk
Call +44 (0)20 7729 6677
Fax +44 (0)20 7729 6110
Post Falconbury Ltd
10-12 Rivington Street
London EC2A 3DU, UK
Date and venue
6-10 December 2010
The Park Lane Hotel
Piccadilly, London W1J 7BX
Tel: +44 (0)207 290 7294
Web: www.sheratonparklane.com
Dr Ken Mildwaters is an oil and gas legal consultant. He read jurisprudence
(B.Juris. (Hons)) and law (LL.B) at the University of Western Australia and law
(Ph.D.) at the Centre for Petroleum and Mineral Law Studies at the University of
Dundee, Scotland. In 1998/1999 he was a Visiting Scholar at the Graduate
School of Business Administration at Harvard University and lectures at the
Centre for Petroleum and Mineral Law Studies. Ken also leads his own legal
consulting firm that specialises in legal and negotiation issues in the natural
resources sector. He has advised a number of organizations globally on the legal
aspects of: exploration, development, production, supply and sales activities in
the oil, gas and minerals sectors.
George Fildes specialises in financial training and consultancy. With over twenty
years experience in general management, George’s experience spans business
management, logistics, customer operations and financial management. He has
been involved with mature, turnaround and start-up companies. George’s works
globally with organizations he has developed a series of tailored business
improvement programmes focusing on financial understanding for clients who
include: SASOL, BBC, Exel, Thames Water, Portakabin, Calor Gas, Pfizer, Toshiba,
3M and HBOS. George is a charted management accountant (FCMA) with a
Cranfield MBA.
Paul Blackhurst is a consultant, speaker, trainer, coach and facilitator. He has
worked in four continents in 45 countries and has a track record of designing and
delivering successful consulting and development projects for blue-chip clients.
Paul has a rare mix of background and education which helps him to combine the
hard aspects of strategic choice and analysis with the “softer” aspects of change
management, leadership and people management. He has worked successfully
with several clients in the Oil and Gas Industry including designing a major
leadership programme for BP. Prior to in-house roles with MCE/AMA, Paul worked
in a series of executive positions in multinational organisations such as SKF,
Milacron and GTE. Paul has a BSc. degree from the University of Birmingham and
an MBA from Bradford University. He has also pursued Doctoral studies at Henley
Management College. In addition to his academic qualifications, Paul holds an
Advanced Diploma in Management Consultancy from Henley Management
College, a Diploma in Organisational Development from NTL (USA) and a Diploma
in Marketing.
Timetable
Attendees are asked to arrive promptly for
registration at 9.30am on day one. The
course will begin at 9am on each of the
following days and finish by 5.30pm.
The course consists of five intensive days
of training. Day five will end at 4pm to allow
more time for travel home.
Some of the Oil & Gas organisations who have
sent participants on Falconbury events…
Abu Dhabi Company for Onshore Oil
Operations • Gaz de France • Kuwait National
Petroleum Co • ONGC • Shell UK Ltd •
Sonangol EP • Total E&P UK Ltd • Wintershall
AG • Yemen Gas Co • ExxonMobil Petroleum
& Chemicals BVBA • PETROBRAS
Telephone: +44 (0)20 7729 6677
Visit the website: www.falconbury.co.uk

Book now for
The ‘Mini-MBA’ for the
Oil & Gas Industry
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Please quote your reference number:
6187/
6-10 December 2010, London, UK Ref: 1574
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Post Falconbury Ltd., 10-12 Rivington Street
London EC2A 3DU, UK
Date and location
This training course will be held on:
6-10 December 2010
The Park Lane Hotel, Piccadilly, London W1J 7BX
Tel: +44 (0)207 290 7294 • Web: www.sheratonparklane.com
Fee
The fee for this five-day training programme includes all written materials,
lunch and refreshments.
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