IHRDC Instructional Program 2015

International Human Resources Development Corporation
Instructional Programs
2015 Catalog
Innovative programs with challenging simulation games that

teach the business essentials of todays oil and gas industry.
45
FOR
YEARS
Attended by more than 7,200 oil and gas

industry managers from 106 countries.
Welcome to IHRDCs
2015 Instructional Programs Catalog
Dear Colleague:
Keeping up to date with industry developments and expanding our knowledge and skills on a regular
basis are essential to a successful career in the international oil and gas industry.
With this in mind, I invite you and your colleagues to attend one of the outstanding, time-tested oil and
gas industry management programs that we will offer in Boston, Cambridge, U.K., and internationally
in 2015. These programs, updated and expanded regularly, will provide you with outstanding career
development opportunities and a chance to network and share your challenges with peers from major
oil companies, international independents, national oil companies, service companies, and government
agencies from more than 40 countries.
Our programs have a strong reputation because of our excellent instructors, who have many years of industry experience, our time-tested learning
format an equal mix of lectures and team participation in unique and challenging business simulation games that enhance learning, and the evening
events we organize for participants whether in Boston or Cambridge. For a better appreciation of our programs please listen to the testimonials of our
many past participants at www.ihrdc.com/instructionalprograms.
We offer our Petroleum Industry Foundation Programs in the spring (April through June) and fall (September through November) in both Boston and
Cambridge, U.K. The list of Boston Programs for 2015 begins on page 2 in this Catalog and those for Cambridge on page 32. We encourage you
to examine the content of the programs and select one or more for enrollment in 2015.
Please note that included in the Boston Programs is a timely two-week certificate program International LNG Business Management Certificate
Program devoted to the business fundamentals of LNG and the management of major international petroleum projects. Its challenging simulation
game involves the design and development of a major LNG Project in East Africa. With the growing need for natural gas in the worlds energy mix, this
is an important offering for you to consider.
IHRDC can also bring training directly to your organization by contracting for one of our Oil and Gas Business Workshops. These intensive, in-house
programs guarantee a practical, private, and effective learning experience for you and your colleagues. We recommend you review these wideranging offerings, beginning on page 24, and let us know how we can assist in fulfilling your training needs.
I encourage you to look at each of the programs in this catalog, choose the one that best meets your needs, and enroll as early as possible. Enrollment
can be accomplished online and, when completed, we will help you with hotel accommodations, visa letters, and other details. To enroll, simply go to
www.ihrdc.com/instructionalprograms/enroll. We look forward to seeing you in 2015.
Sincerely,
David A.T. Donohue PhD, JD

President and Program Director
About IHRDC
IHRDC was founded in 1969 with a commitment to offer international oil and gas companies excellent products and services to train and
develop their workforce. In the four decades since then from both our Boston headquarters and our offices in Houston, London, Amsterdam,
Abu Dhabi, Kuala Lumpur, Jakarta, and Lagos we have set a worldwide standard of excellence through our Instructional Programs, e-Learning
and Knowledge Solutions, and Competency Management. Our offerings are being used daily by thousands of industry leaders.
For more information go to www.ihrdc.com.
Table of Contents
The Unique IHRDC Experience

IHRDC Oil and Gas Management Programs:
02
01: International Petroleum Business Program
34
10: Economics of the Oil Supply Chain

april 2 0 2 4 or october 5 9 , 2 0 1 5
11: Trading Oil on International Markets

06
m ay 11 22 or october 12 23, 2015
08
j une 1 12 or septe m ber 14 25, 2015
04: Advanced Petroleum Management Program:

Enterprise-Wide Leadership in Times of Change 10
35
april 2 7 m ay 1 or october 1 2 1 6 , 2 0 1 5
12: Oil Operations and Logistics

03: Financial Modeling and

Petroleum Project Economics

04
m ay 11 22, 2015
02: 22nd Annual

International Gas Business
Management Certificate Program

32
IHRDC-Invincible Energy Programs:

ca m bridge u . k ., geneva , singapore
boston
The Superb IHRDC-Invincible Energy Experience
36
m ay 2 0 2 2 or septe m ber 2 1 2 3 , 2 0 1 5
13: International Oil Trading and Price Risk Management

14: Price Risk Management in the Oil Industry

37
j une 1 3 or october 2 6 2 8 , 2 0 1 5
38
j une 8 1 2 or nove m ber 9 1 3 , 2 0 1 5
j une 1 12, 2015
05: International LNG Business

Instructor Biographies

12
j une 15 26, 2015
06: Essential Skills for Oil and Gas Professionals

j une 15 26, 2015
07: 25th Annual
International Petroleum
14
Enrollment Information/Forms
About IHRDC
Instructional Programs Client List
39

48
51
52
16
septe m ber 14 october 9, 2015
08: HR Processes, Competency Development,

and Change Management Program

20
septe m ber 28 october 9, 2015
09: International Petroleum Law Workshop
22
october 19 23, 2015
IHRDC Oil and Gas Business Workshops:

bali , dar es salaa m , london , nairobi
International Gas Business Workshop
24
26
m arch 23 27 or april 13 17 or nove m ber 16 20, 2 0 1 5
Overview of the International Petroleum Business
27
april 20 24, 2015
Optimizing Gas Processing, Refining,

and Petrochemical Facilities
29
april 13 17, 2015
Petroleum Project Economics and Risk Analysis
29
m arch 16 20 or nove m ber 16 20, 2015
Copyright 2014 International Human Resources Development Corporation. All rights reserved.
The course was, without a doubt, one of the very best I have ever
attended. Superb instructors, quality teaching, comprehensive course
notes, excellent team interaction through section building exercises, a
superb extracurricular activity program in Boston, and the environment to
ensure that we all made the most of our time in your wonderful city.
2014 Participant
Engaging Instructional Format
The IHRDC Experience Combines

Learning Excellence and Attention to Your Needs
For 45 years, IHRDC has been a worldwide leader in training and
competency development for the international oil and gas industry. Our
Instructional Programs have gained a reputation for excellence in the
industry for all of these years because of their unique design, superior
instructors, and attention to participants needs throughout their stay.
Our unique and highly regarded instructional design combines lectures by experienced oil and
gas business specialists with challenging proprietary IHRDC business games. Classroom sessions
include timely, comprehensive, practical, and challenging topic matter. Our business workshops
allow participants to internalize learning through team discussion and decision-making that reflect
real-life business opportunities. Our programs feature instructors and mentors who make it a priority
to provide a first-rate learning experience.
Exciting Historical and Cultural Location

IHRDCs Oil and Gas Management Programs are offered annually in Boston, Massachusetts,
U.S.A. This friendly and attractive city boasts countless cultural and historic attractions, worldrenowned academic institutions, exciting sporting venues, excellent restaurants and hotels, and a
wide variety of shopping opportunities. Plus, its known as the walking city and has terrific public
transportation theres no need for a car!
Stimulating Social Events and Cultural Activities

We want you to feel at home during your stay in Boston. With this in mind, IHRDC provides a
Program Coordinator to assist you with your non-program needs. The Program Coordinator will also
organize social events during the evenings and bus tours to regional sites of interest on the weekends.
IHRDC personnel will guide you on evening group tours of select Boston and Cambridge museums,
Harvard and MIT universities, help you explore the Charles River and Boston Harbor via boat rides,
and facilitate weekend visits to mountains and seaports in Maine, New Hampshire, and Rhode
Island. Our planned social events include group dinners at favorite local restaurants, theater outings,
concerts, sporting events, and special shopping tours to regional outlet malls.
Invaluable Networking Opportunities

By attending both classroom and social events with colleagues from all over the world, you will have
a wonderful chance to learn from and network with some of the brightest professionals in the industry.
02
03
F UL L P RO G RAM D AT E S :
International Petroleum Business Program

Hig
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ay
1
This program provides managers in the worldwide petroleum industry with an in-depth understanding of
the key aspects of the upstream and downstream petroleum business. It explores the important functional
management issues today, including technical, financial, marketing, and petroleum accounting. The
instructional format is a compelling combination of formal presentations by industry experts and team
participation in a challenging business workshop.
Brads
Cove
Highway 1A
DO WN S T R E AM S E CT O R S AN D P E T R O LE UM E CO N O MICS
W HO SHOULD ATTEND
This program is intended for managers in the

many functional areas of the international
petroleum and natural gas industry, such
as exploration, production, refinery and
petrochemical operations, marketing, law,
human resources, accounting, and finance.
Overview of the Energy Industry

Oil and gas measurements and units; the value
chains; market structures; worldwide oil and
gas economics; major players; evolution of the
integrated oil and gas business.
INS T R UCTORS
Host Government Agreements

Typical host country exploration agreements:
summary of the history and key provisions,
including bonus payments, royalties, taxes;
production sharing; participation arrangements.
Exploration Methods
The exploration process: petroleum geology,
exploration geophysics, well logging,
developing exploration prospects, preparing
and interpreting geological maps; case studies.
Drilling and Well Completions
Planning the well; logistics; drilling functions;

drilling procedures; formation evaluation
methods; horizontal wells; improvements
in drilling.
Field Development and Production Cycle
Onshore and offshore field development

and long-term production subsurface
design; reservoir fundamentals and
reserves estimation: field development;
inflow performance; integrated reservoir
management; and enhanced recovery. Surface
facilities design: design for both onshore and
offshore operations; production operations
and management; investment analysis and
reporting of performance; case studies.
The content of this two-unit program is the same as the first

two units of IHRDCs four-week International Petroleum
Management Certificate Program held during September
(featured on pages 16-17).
Gas Processing and Marketing of LPGs

Properties of gas and gas liquids; processing of
associated gas; markets for LPGs; economics
of natural gas plants.
Crude Oil and Natural Gas

Pipeline Systems
Introduction to crude oil and natural gas
pipelines; design, construction and operation
of pipeline systems; estimating project
costs; pipeline contracts and tariffs; new
pipeline developments.
Measuring Financial Performance
How companies report to their shareholders;
GAAP principles; income statement; balance
sheet; cash flow statement; equity statement;
taxation and tax codes; preparing corporate
financials; the audit; reading a major company
annual report; measures of performance and
the setting of company goals.
Petroleum Industry
Accounting and Taxation
Successful efforts vs. full-cost accounting;
corporate taxation; petroleum taxation;
accounting for host government and joint
venture agreements; supplemental reserves
reports included in annual reports.
Unconventional Oil and Gas Resources
A comprehensive and practical understanding of
the processes that are applied in the development
of unconventional oil and gas projects, by looking
at some active investment areas.
Energy Project Economics
Economic yardsticks; project cash flow before
and after tax; tax expenses and benefits; net
cash flow stream and payout; time value of
money; opportunity cost and present value of
net cash flow; discounted cash flow analysis
and internal rate of return; risk assessment
and sensitivity analysis; examples of the
economic analysis of energy projects.
Atlantic
Ocean
MAY 18 22, 2015
U NIT T W O
Worldwide Petroleum Economics

Worldwide energy supply; demand; reserves;
pricing; corporate strategy; recent history and
prediction of future trends; how petroleum
economists make predictions.
Markets for Associated Natural Gas
The natural gas chain: industry structure and
regional markets, interfuel competition; gas
distribution; regulation and deregulation;
economics and markets for gas, including
combined-cycle power plants, LNG,
ammonia, methanol, and gas-to-liquids.
Refining and Petrochemicals
Refinery: capacity evolution; technology
changes; capital and operating costs;
profitability; net-back estimation and recent
trends. Petrochemicals in perspective:
links to refining; key product families;
industry drivers: cost of production,
supply and demand; profitability and price
forecasting; prospects for the future: maturity,
environmental concerns, global competition.
Crude Oil Tanker Transportation

The tanker industry and market trends:
an overview of the main characteristics of
crude tankers; capital and operating costs;
pollution at sea and the new regulations;
calculating tanker transportation rates;
Worldscale and charter arrangements.
Marketing of Crude Oil and Products
Development of the free market for oil;
current international market structure;
regional markets: physicals, futures,
forwards, derivatives, options; roles
of participants, price formation, price
volatility; price reporting; crude oil and
product pricing; negotiating and pricing
petroleum sales contracts; introduction to
hedging and price risk management.
Products Distribution
Distribution and retail marketing of
petroleum products; structure of the
margins realized along the distribution
value chain; transitions in the marketing
of transportation fuels; economics of the
modern gasoline station.
This business game is an integral part of the

learning process. Participants, divided into teams,
make real-life technical, financial, and market
decisions that commonly confront managers in
the international petroleum business today. Team
performance is measured on a financial basis and
is catalyzed by healthy competition.
The international petroleum business game takes
place in Sandland, a fictitious country on the
west coast of Africa. Team objectives include
developing oil and gas reserves and deciding
on the optimal way to develop and market the
production. During each workshop session,
teams are provided with technical and economic
background that serves as basis for decisions to be
made during that session. Team decisions are made
and require a commitment of both capital and
operating funds and occur during the following
intervals: three years of exploration, two years of
development, and fifteen years of production.
WORKSH OP SESSIONS INCLUD E:
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2014 Participant
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learn more or register for programs at www . ihrdc . com
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INTERNATIONAL PETROLEUM
BUSINESS GAM E: SAND LAND
Excellent program. With what I have learned, I
National Forest
dla
nd
MAY 11 15, 2015
U P STR E A M S E C T O R S , PROJECT ECONOMICS, AND PETROLEUM ACCOUNTING
Note :
Sandland
Ann
Ann
UN IT O NE
David A. T. Donohue, PhD, JD

Meg Annesley, BS
Erhan Aslan, PhD
Charles Brankman, PhD
Y. Serdar Dogulu, PhD
Bradford R. Donohue, MBA, CFA
Marshall E. Frank, MS
John B. (Jack) King, MBA
Shashi Kumar, PhD
Michael Lynch, MS
Carlos Peralta, MBA
Kris Ramanadhan, PhD
Robert W. Taylor, MS
Laura Varela, MS Eng
Refinery
Site
Sa n
01
MAY 11 22, 2015
Introduction to the workshop

Negotiating the right to explore in Sandland
The exploration survey stage
Exploration and delineation drilling
Reserves estimation and field development
Gas processing
Oil and gas pipelines and port facilities
Sandland operations accounting
Combined-cycle power plants
Oil tanker charter decisions
Refinery development decisions
Financing the port expansion
Ammonia plants
Gas export pipeline decisions
Crude oil marketing decisions
Strategic planning and decision analysis
Evaluation of performance and presentation of results
05
02
22nd Annual
MAY 11 22, 2015

OCTOBER 12 23, 2015

Through a careful balance of lectures by leading experts and challenging workshop sessions, this twoweek program provides a comprehensive working knowledge of the technology, economics, finance, and
markets that shape and affect the international gas industry today. It also teaches the management skills
needed to develop projects and increase performance within an integrated gas business environment.
ee r
ee r
North America
North America
Atlantic
Atlantic
Ocean
Ocean
Africa
Africa
Expetra
Expetra
UN IT O NE
MAY 11 15, 2015 / OCTOBER 12 16, 2015
U P STR E A M G A S BU S I N ES S
U NIT T W O
MAY 18 22, 2015 /OCTOBER 19 23, 2015
This program is intended for specialists

in one or more functional areas of the
international energy industry who seek
a comprehensive understanding of the
gas industry. Many participants have said
this is the best program in the industry today,
due to its broad scope, challenge, realism,
and fun.
INS T R UCTORS

Erhan Aslan, PhD
Marshall E. Frank, MS
Samy H. Ibrahim, MS
Carlos Peralta, MBA
Overview of the International Gas Industry

Gas measurements and units; the gas chain;
market structures; worldwide natural gas
economics; major players; evolution of the
integrated gas-power business.
Typical host country exploration
agreements: summary of the history and
key provisions, including bonus payments,
royalties, taxes; production sharing;
participation arrangements.
Exploration Methods
in drilling.
money; discounted cash flow analysis and
internal rate of return; risk assessment and
sensitivity analysis.
Unconventional Gas Resources
A comprehensive and practical understanding
of the processes that are applied in the
development of unconventional gas projects,
by looking at an active investment area: the
Marcellus shale project in the United States.
06
South
America
South
America
Pristine
Beaches
DO WN S T R E AM GAS B US IN E S S
W HO SHOULD ATTEND
Gas Field Performance

and Reserves Estimation
Overview of production and reservoir
management in the gas system; production
technology; well testing; reservoir performance;
reserves estimation.
Gas Processing: Technology, Economics,
LPG, and Ethylene Markets
Overview of gas processing systems; liquid
separation processes; LPG fractionation
options; compression; engineering design and
contracting methods; the market for LPGs;
project feasibility and economics; ethylene
processing, economics, and markets.
Gas Pipeline Systems
Major considerations in the cost-effective design,
construction, and operation of gas pipeline
systems; system design variables: impact on cost
and capacity; estimating project costs; pipeline
load factors; typical pipeline tariff; examples of
recent pipeline construction costs.
Load Balancing Systems and Tariffs
Needs for load balancing and system and
customer benefits; storage options, capital and
operating costs: underground, cavern, and LNG
facilities; operational procedures; new options
for marketing storage services; case examples.
Gas Sales Contracts
Typical terms in gas sales contracts; pricevolume; risk allocation; from gas contracts
to tariffs; indexing; re-openers; typical
contract examples.
Review of financial statements: income
statement, balance sheet, cash flow, and
shareholders equity; capital and operating
costs; measurements of financial performance;
benchmarking; taxation; the accounting and
audit process.
Gas Market Analysis and Pricing

The need to identify gas markets early;
gas market analysis; netback pricing and
interfuel competition; market segments and
market opportunities.
Gas-Fired Power Plants
Overview of combined-cycle gas turbine
power systems; technology: plant design, fuel
efficiency, available packages; project feasibility:
capital costs, economics, risk, financing,
contracts, markets, capital and operating
cost estimating; contracting for fuel supply
and power sales; worldwide power trends;
examples of recent and planned projects.
Overview of LNG Business
Overview of the role of LNG within the gas
chain; technology: LNG plants, liquefaction,
ship design and operations, LNG re-gasification
units; LNG project feasibility: capital costs,
economics, risk, financing, markets; LNG plant
design: gas reserves to support a plant, contract
prices, contracting; examples of recently
completed and planned projects.
Petrochemical Uses for
Natural Gas: Methanol, Ammonia,
and Gas-to-Liquids Conversion
Use of gas for ammonia and methanol and
conversion to liquid fuels; processes for
conversion of gas to methanol; markets and
project economics; ammonia and fertilizers:
source of supply, types of processes,
intermediate and end products, markets;
project economics; examples of recent and
planned projects; gas-to-liquids conversion;
available technology; major players; capital and
operating costs; economic analysis.
Gas Distribution
Overview of the gas distribution system; types
of customers and load factors; competition
from other fuels; sources of gas supply: gas
supply contracts, prices, character of gas
supply; structure and regulation of local

distribution companies (LDCs); marketing
demands; design and construction of
distribution systems; expansion; operations:
load balancing, distribution planning,
maintenance, environmental considerations,
rate-making policies and practices.
Project Financing: Commercial Debt
Structuring and Case Study
Corporate and project financing; sources
of debt and equity financing; public and
private sources of capital; multilateral and
bilateral sources of financing; risk assessment
and mitigation; structuring of financing;
preparing the financing plan; negotiating
the term sheet; preparing the financing
documents; closing. Case studies examples
of project financing: Qatar Gas Project;
Colombia Power Project; U.S. Gas Storage
Project.
Industry Regulation,
Deregulation, and Convergence
The nature of regulation in the energy sector;
history and current state of the gas industry
deregulation process at the wholesale and
retail markets: U.S., Europe, and elsewhere;
effect of deregulation on the structure of the
industry; convergence of gas and power.
Marketing Natural Gas in an
Open Access Environment
U.S. market structure; basic deal types and
where they are done; the commercial
organization; and current issues in U.S.
natural gas markets.
Managing Energy Price and
Volume Risks: Futures and Hedging
The history of energy price risk
management; physical, forward, and futures
markets; typical futures market transactions;
hedging, swaps, and options; volume risk
management; weather derivatives.
e
Europe
e
Europe
Pristine
Beaches
ATLANTIC BASIN GAS

BUSINESS GAM E: EXPETRA
This business game is an integral part of

the learning process. Participants, divided into
teams, make real-life technical, financial,
and market decisions that commonly confront
managers in the international gas business today.
Team performance is measured on a financial basis
and is catalyzed by healthy competition.
The challenging Atlantic Basin business game takes
place in Expetra, a small island country in the
Caribbean, north of Trinidad. Gas and condensates
are expected to be discovered in the deep offshore.
Teams enter into exploration agreements, explore
for and discover hydrocarbon resources, and then
decide on the best way to market them over a
15-year production period. Markets include LNG
exports to the U.S. and Europe, LPG and ethylene
plants, gas pipeline to Miami, gas distribution and
storage operations in the U.S., power plants in the
U.S. and Expetra, and export-focused ammonia,
methanol, and gas-to-liquids plants in Expetra.

Introduction to the exploration opportunity
Negotiation of the exploration and
development agreement
n Seismic exploration and mapping of seismic results
n Exploration drilling and reserves estimation
n Gas processing, LPG, and ethylene market decisions
n Gas field pipeline decisions
n Integrating load balancing and pipeline facilities
n Gas-fired power plant market decisions
n Acquiring a gas distribution business in the U.S.
n Assessment of methanol, ammonia, and GTL markets
n Export pipeline from Expetra to Miami
n Assessing two LNG market opportunities
n Integrated field development and market decisions
n Decisions during the project lifecycle
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JUNE 1 12, 2015

SEPTEMBER 14 25, 2015
Financial Modeling and

During these two units, you will gain an integrated and practical understanding of financial analysis tools
and techniques for the oil and gas industry that are related to building proforma project analysis, learning
different methods of financial analysis, and applying different risk analysis tools to projects. The instructional
format capitalizes on a careful balance of formal lectures by leading experts and specially developed
workshops and business games.
Republic of Oceana
Oceana
Industrial Park
Subsurface Structural Map
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Baru Prospect
UN IT O NE
JUNE 1 5, 2015 / SEPTEMBER 14 18, 2015
F inancial M odeling for the oil A N D gas industry
U NIT T W O
JUNE 8 12, 2015 /SEPTEMBER 21 25, 2015
W HO SHOULD ATTEND
This program is designed specifically for

energy managers, supervisors, and key
employees from broad functional areas,
such as finance, technology, and project
development who wish to expand their
knowledge of financial modeling and
petroleum project economics.
INS T R UCTORS

Erhan Aslan, PhD
Michael Kraten, PhD, CPA
Carlos Peralta, MBA
Rick Squires, MS
Overview of the Petroleum

Industry Today
Oil and gas measurements and units; value
Introduction to Accounting
and Financial Statements
Basic financial and accounting concepts
and standard technology; depreciation,
impairment, and acquisition accounting;
financial statements; accounting for
investments; equity methods and
consolidations.
Financial Statement Analysis
Background needed to understand and
build models of the four key corporate
financial statements; review and discussion
of key measures of financial performance;
consideration of the measures used by major
companies and of participants companies;
steps required to build proforma financial
projections.
Overview of Oil and Gas Accounting
Definition of various industry terms;
classification of reserves and resources;
introduction of two major accounting options
to account for oil and gas costs: successful
efforts and full cost; GAAP filing and
valuation methods to comply with SEC filing
requirements, including asset impairment and
asset retirement obligations.
Project Financing: Commercial

Debt Finance
Corporate and project financing; sources of
debt and equity financing; public and private
sources of capital; multilateral and bilateral
sources of financing; risk assessment and
mitigation; structuring of financing; preparing
the financing plan; negotiating the term sheet;
preparing the financing documents; closing.
Case studies examples of project financing:
Qatar Gas Project; Colombia Power Project;
U.S. Gas Storage Project.
and Measures of Performance
Project cash flow analysis, discounting cash
flow to obtain present value and internal rate
of return, the cost of capital and the effect
of debt financing, other measures of project
performance; sensitivity to changes in key
variables.
The Business Model
Using the balanced scorecard framework,
regression analysis, and flexible budgeting,
how does the organization earn profits?
What are the key strategic drivers of financial
success?
Cost and Expenses
True costs of developing and delivering
products and services; using gross profit
analysis, activity-based costing techniques,
and cost variance schedules.
Financial Statements
Using the business model, volume, expense,
and revenue data to construct and understand
financial reports; using balance sheets,
income statements, cash flow statements,
ratio analysis, and performance outcome
measurements.
Java Sea
P E T R O LE UM P R O JE CT E CO N O MICS AN D R IS K AN ALY S IS
Introduction to Petroleum Economics

The fundamentals of economics: background
and its application to the oil and gas industries.
Energy Project Risk and Uncertainty
Identifying and quantifying energy projects
risks and uncertainty into project analysis;
using statistical measures to quantify risk; two
key risk assessment methods: scenario analysis
and sensitivity analysis.
Event Identification
Identifying trouble spots that threaten the
organizations ability to generate profit and
value, using event inventories, target riskreturn profiles, risk tolerance levels, and event
tracking processes.
Probability Theory and Quantitative Analysis
Introduction to probability theory, including
probability density functions, overview of
typical probability distributions and definition
of key terms; applying probability theory in
decision analysis with emphasis on concept of
expected value.
Decision Tree Analysis
Applying a structured method for investment
decision analysis; understanding the
implications of different sets of decisions;
identifying areas to reduce risk and
understand economic opportunity cost of
capital; identifying implications of various
forms of contracts; analyzing implications of
incremental project decisions.
Risk Assessment
Prioritizing trouble spots by likelihood of
occurrence and potential impact. Using
likelihood and impact tables, inherent and
residual risk charts, and heat maps.
Risk Response
Assessing the organizations ability to
respond to trouble spot flare-ups on paper
and in reality. Using avoidance, sharing,
reduction, and acceptance practices, as well
as portfolio analysis techniques.
Monte Carlo Simulation
Extending the decision tree analysis
framework for situations that include
continuous probability scenarios;
identifying the power and limitations of
simulations, emphasis placed on relevance
of expected value; Crystal Ball commercial
software used to model risk in financial
model.
Field Development, Reservoir
Performance, and Surface Facilities
Formation evaluation; estimating reserves;
field development; inflow performance;
surface facilities design for both onshore
and offshore operations; integrated reservoir
management; enhanced recovery.
Managing Energy Price and Volume
Risks: Futures and Hedging
The history of energy price risk
management; physical, forward, and
futures markets; typical futures market
transactions; hedging, swaps, and options;
volume risk management; weather
derivatives.
Portfolio Theory and Real Options
Introduction to and discussion of Real
Options and Portfolio Optimization, two
other key methods used extensively today
by many oil companies to evaluate project
opportunities; understanding how a
collection of investments can decrease overall
risk in the portfolio.
F INANCIAL ANALYSIS
BUSINESS GAM E: OCEANA

decisions that commonly confront managers today.
Team performance is measured on a financial basis
and is catalyzed by healthy competition.
Participants, working in teams, will evaluate an oil
and gas business opportunity in the Republic of
Oceana, near Indonesia. They build a financial
model that will integrate various risks associated with
the investment. This model will utilize a proposed
Production Sharing Agreement and incorporate
revenue, capital and operating costs, financing costs,
and tax projections for the life of the project.
Throughout the program, teams will add layers
of complexity to the model by incorporating the
different types of risk analysis tools presented in
the lectures. The teams will present their project
analysis to a decision review board by outlining the
risk profile and expected performance measures of
the project. They then learn the outcome of those
decisions. Emphasis will be placed on the practical
implementation of the tools presented in lecture and
on developing practical financial modeling skills.

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Modeling the production sharing agreement

Building the base-case proforma financial statements
Calculating standard measures of performance
Sensitivity and scenario analysis
Decision trees and expected monetary value
Monte Carlo simulation
Project selections, stakeholder, and
financial analysis
Simulation of team investments in the
economic environment
09
04
Advanced Petroleum Management Program:

Enterprise-Wide Leadership in Times of Change
This program focuses on managing and leading international oil and gas enterprises during times of change and
maximizing overall performance. Its objectives are achieved through group discussions of business case studies
and team participation in an enterprise-wide business simulation game. The simulation game will challenge teams
to plan and manage the growth of an organization as it faces a series of strategic decisions that require the
assessment of international, national, and local trends and policies, portfolio performance, enterprise resources, as
well as environmental and business risks.
JUNE 1 5, 2015
UN IT O NE
GROWING THE ORGANIZATION IN RESPONSE TO COMPLEX BUSINESS DRIVERS
Global, Regional, and Local Industry

Trends and Expectations
Identification of global trends that affect all
businesses; petroleum industry trends; local
and regional issues that affect the local energy
businesses. Current conditions and growth
forecasts of the business environment.
International Affiliates of NOCs

Formation of new business models and alliances;
changing roles in global and local markets;
implications on the supply of oil and gas
resources.
INS T R UCTORS
Enterprise Business Fundamentals

Robert Meyer, MA
Robert F. Ryan, MS
Jack A. Slotnick, CPEA
Strategic Planning
Vision and mission statements, goals,
objectives, organizational structure, and the
processes for managing change.
Round One Decisions

Each team will evaluate new investment
opportunities and, if it wishes, divest its
interest in existing businesses. They will
also conduct SWOT analyses and business
profiling exercises.
Measuring Corporate Financial Performance

Historical and pro forma financial statements,
portfolio analysis, capacity to obtain additional
capital resources.
Characterizing the Existing Businesses
Participants will analyze and characterize the
portfolio of the existing projects and rank
them according to business performance
fundamentals and the strategic objectives
of the enterprise. This provides a greater
understanding of the contribution of each
business to the portfolio, their current tangible
and intangible benefits, threats, shortcomings,
and the links between them.
Stage-Gate Project Management System
Teams will apply the Stage-Gate project
management process to benchmark performance,
satisfy stakeholder objectives, allow scrutiny
of recommendations and risks, and conduct a
formal review at end of each stage.
10
U NIT T W O
JUNE 8 12, 2015
SUSTAINABILITY: ANTICIPATING ENVIRONMENTAL, SOCIAL,

AND ORGANIZATIONAL CHALLENGES
W HO SHOULD ATTEND
This program is designed for international

oil and gas managers and executives who
seek to enhance their skills in managing and
leading international oil and gas enterprises
during times of change so as to maximize
overall performance.
JUNE 1 12, 2015
W or k shop activities :
Round Two Decisions

Five years after the Round One decisions,
teams receive an update on the performance
of their enterprise businesses, the current
business environment, and any changes in
the world, petroleum, and local trends that
may have occurred. They are offered a new
slate of business opportunities to consider.
These decisions continue during the planning,
construction, startup, and operation of all new
undertakings.
Analysis and Presentations of Results
Teams prepare and deliver presentations
in response to Rounds One and Twos
workshop activities.
Creating Effective Sustainability

Programs
Options to implement sustainability
programs within the developing world;
linkages between sustainability and social
responsibility. Petroleum industry case studies.
Sustainability Scorecard: How Do
Companies Measure Performance?
How companies and the industry measure
sustainability success; review and discussion
of industry guidelines and recent company
reports; sustainability reporting and guidelines;
global reporting initiatives; IP/ECA/API.
Managing Effective Environmental
Impact Programs
Design and implementation of successful
environmental management programs;
the World Bank standards for preparing
environmental impact statements; review of
recent EIS programs.
Building and Maintaining a Safety Culture
Design and implementation of a safety
culture; the role of management; recognition
of employees. Case studies of companies
which have implemented successful programs,
Chevrons Agbami case study.
Leadership Fundamentals
Participants will explore, through the use of
business case studies, the fundamentals of
leadership and managing enterprise growth.
They will learn how leaders manage change,
especially for international enterprises.
Developing a Competent
National Workforce
The process of planning, managing, and
implementing a competency management
system to enhance the performance of
the national workforce. Case studies of
successful competency management system
implementations.
Managing Local Political Disputes

and Security of Assets
Anticipating and managing disputes which
involve ownership claims by indigenous
populations or failure to distribute
petroleum revenues to local communities;
managing security of assets and preventing
disruption of production.
Social Media
The role and value of social media while
managing an international petroleum
enterprise. Social media best practices and
common mistakes.
Wor k shop activities :
Round Three Decisions: Planning and

Implementing Sustainability Programs
Teams are asked to develop comprehensive
sustainability programs for one or more of
their investments. They will be asked to
make a case for change in a business.
GROWING TH E INTERNATIONAL
AF F ILIATE OF A NATIONAL
OIL COM PANY: WANOCO
You are the senior executive in charge of managing

the development and expansion of WANOCO
International, the international affiliate of the West
African National Oil Company. Your challenge is
to build a profitable oil and gas enterprise in Latin
America and Africa. At the outset of the business
game, you manage a set of oil and gas industry
assets that have mixed levels of performance. As
new opportunities arise, you are asked to make
decisions that lead to an optimal portfolio. You
will measure the attractiveness of each opportunity
based on commercial, financial, political,
social, regulatory, and other characteristics,
and implement your decisions effectively. In
the process, you will respond to many different
business challenges. Teams participate over a
simulated 20-year time span and report final
performance results.
Round Four Decisions: Responding

to Incidents
Teams are asked to respond to an HSE incident
and make a new set of commercial decisions,
five years after Round Three decisions.
Analysis and Presentation of Results
Teams receive the financial performance
of their enterprise over a 20-year period
and prepare presentations of their major
decisions and their overall impact.
IHRDCs Robert Taylor conducts a lecture session in the

IHRDC Management Institute.
11
05
W HO SHOULD ATTEND
This program will benefit managers,

government officials, and specialists in one
or more functional areas of the international
energy industry who seek a comprehensive
understanding of the liquefied natural gas
sector of the international gas industry and/
or how major oil and gas industry capital
projects are successfully managed. It is an
ideal supplement to IHRDCs gas industry
foundation program, The International
Gas Business Management Certificate
Program, which many participants refer to
as the best program in the industry today.
INS T R UCTORS
David A.T. Donohue, PhD, JD

Erhan Aslan, PhD
International LNG Business

This two-week, major capital project program is ideal for those who wish to learn how major LNG projects
are developed, from concept to operation. Unit one is devoted to LNG fundamentals including LNG market
history, pricing and trends; major players along the LNG value chain; application of Stages 1 and 2 of the
Stage-Gate process; LNG project assessment and development planning: from supply to delivery including,
gas resources, gas field development, LNG technologies, and major commercial requirements.
Unit two reflects how LNG and other major oil and gas capital projects are completed on time and within
budget. It is devoted to the application of Stages 3-5 of the Stage-Gate process: from commissioning the FrontEnd Engineering (FEED) study to obtaining Final Investment Decision (FID); planning, selecting, and managing
EPC contracting, commissioning, and, after in-service, project reappraisal, startup, and operation.
UN IT O NE
JUNE 15 19, 2015
L NG B usiness Fundamentals
The sessions are identified in brown and the content of one or more lectures are shown below these titles.
Gas Fundamentals: Gas Hydrocarbon
Properties and Conversion
Natural gas hydrocarbons and their chemical
properties, gas volume, and thermal energy
measures; gas industry terminology and LNG
acronyms. Gas quality, heating value, density,
gas liquid yield; comparative energy value
analysis: natural gas, LPGs, condensate, LNG.
Gas Market Fundamentals
Gas Market Fundamentals
Overview of the International Gas Markets
LNG Value Chain, Global Market History
and Trends
Market structure and value chain; gas market
sectors; historical gas market supply and
demand in various regions of the world and
projected future demand. LNG value chain;
LNG business history; future market trends.
Pricing options: base and indexing options;
liberalized market pricing; current pricing in
Asia, Europe, North America, potential hybrid
pricing. Locations of supply, liquefaction,
receiving terminals. Key players: sellers, buyers,
NOCs, IOCs, lenders and banks, joint ventures,
ministries, legal firms.
LNG Project Fundamentals
Overview of Gas Supply for an LNG Project
LNG Liquefaction Plants
LNG Transportation and Receiving Terminals
Gas supply: exploration, drilling, resource
estimation, field development; natural gas
processing, gas liquids, market options; LNG
liquefaction plants: design, technology, development
schedule, capital costs; LNG ships: technology,
operating fundamentals and capital costs, ship
ownership options; LNG receiving terminals:
design, technology, capital costs, third party tariffs.
12
JUNE 15 26, 2015
LNG Legal Fundamentals

LNG Sales and Purchase Agreements:
History, Protocols, and Documents
LNG Shipping Agreements
LNG Joint Ventures and Operating Agreements
Major legal agreements; joint venture agreements;
LNG sale and purchase agreements: terms, history,
relationships, negotiating team composition, legal
terminology issues; charter party for LNG ships,
receiving terminal access agreements.
LNG Commercial Fundamentals
Project Financing of LNG Projects
Introduction to FEED Contracts and
Tendering Processes
Project economics: economic yardsticks, cash
flow, tax expenses, internal rate of return, risk
assessment, sensitivity analysis; project financing:
commercial debt structuring; project risk analysis;
FEED and EPC tendering and contracting.
LNG Project Management
The LNG Stage-Gate Process
Stage 1: Assessment of LNG Project Opportunity
Stage 2: Project Development Optimization
Early Estimation of Project Costs and Schedule
Management of LNG Project Environmental
and Socioeconomic Impacts
Stage 3: Requirements and Execution Planning
Stage-Gate project management process; project
alignment and integration of the full value
chain; fulfilling the requirements of Stages 1
and 2: from opportunity assessment to project
optimization; planning for Stage 3. Estimating
project costs, schedule, risks, environmental and
social impacts, and capital funding.
JUNE 22 26, 2015
U NIT T W O
Management of Major International
P etroleum P rojects: LN G case study
Overview of the Stage-Gate Project

Management Process
The development cycle of a major oil and gas
industry capital projects. The use of the StageGate project management process to enhance
decision making, risk management, project
schedule, and cost control.
Procurement Activities and Coordination

Global procurement strategies, success
factors, quality control and quality
assurance systems, total lifecycle
cost analysis, interfaces with detailed
engineering and construction, contract
administration.
Execution Strategies for FEL (FrontEnd Loading) and FEED (Front End
Engineering Design)
Front-end loading, design basis for FEED,
quality of deliverables from FEED, FEED
contractor pre-qualification and selection,
FEED to EPC transition.
Construction Planning and

Management Principles
Flawless execution needs, plant layout
and plot plans, site prep and laydown
areas, material logistics and control,
construction quality control, interfaces with
detailed engineering and procurement,
multi-contractor interface management,
construction progress stewardship,
handover to commissioning.
Introduction to EPC (Engineering Design,

Procurement, Construction) Contract
Development
Project contracting strategies, EPC contractor
roles and responsibilities, contract development
and tendering process, bid package
development, criteria and methodology for EPC
contractor selection, lump sum vs. reimbursable
contracting options, agreements and guarantees.
Estimating Project Costs and Schedule
Cost estimating classifications, approach to
cost estimating for FID, estimating capital
and operating costs, project schedule and
contingency assessment, calibration of costs
and schedule compared to other projects.
Introduction to Stage 4: Project
Execution Planning
Stage 4 execution planning, project
governance, scope and technical issues,
management of change processes,
interface management, contracting plans,
work breakdown structure, SHE plans,
project economics and funding plans,
communications plans.
Detailed Engineering Activities and
Coordination
EPC contract award, global and detailed
engineering activities, interfaces with
procurement and construction, detailed
engineering organization and governance.
Construction Leadership Implementing

SHE Principles
Safety leadership and culture; safety
management systems, safety pyramid and
stewardship, incident prevention, incident
evaluation, root cause analysis, proactive
assessment of safety in the workplace, cultural
diversity, related challenges.
Completion of Construction,
Commissioning and Startup
Key elements of startup, organizational
design, safety during commissioning,
pre-startup audits, training requirements,
coordination with upstream and downstream
facilities and customers, development of
punch-list items and handover
to operations.
Project Closeout, Reappraisal, and
Long-Term Operations
Systematic capture of post-project learnings:
project closeout documentation, investment
reappraisal techniques, look-backs and
comparison with FID. Expanding plant
capacity and managing an LNG facility and
relationships after startup.
M ANAGING AN LNG PROJECT

BUSINESS GAM E: COSM OS
Your company has made a major rich gas discovery

offshore the Republic of Cosmos in East Africa,
and your team has been asked to manage its
development as a major LNG export project
following the Stage-Gate project management
process.
In the first week, you will progress the project
through Stages One and Two. In Stage Two you will
assess the gas resource, define the scope of the LNG
project, and state the business case for development.
During Stage Two you will consider development
options including technology selection, conceptual
design, execution strategy, costs and schedule
estimates, and project financing.
During the second week, your team will continue
developing the LNG project through Stage
Three (Front End Engineering Design and Final
Investment Decision), Stage Four (Engineering
Design Procurement and Construction), and Stage
Five (Startup and Operations).
Throughout the workshop sessions, teams of
participants will face important decisions associated
with the commercial, legal, financial, design,
planning, and development of this challenging LNG
project. They will assess and contract to sell LNG to
various market opportunities (Brazil, China, U.K.,
and spot market), negotiate project financing, and
develop and execute the project while considering
realistic challenges and constraints that are typically
faced by the developers of large energy projects.
Participants will present their teams decisions and
business results in a friendly learning competition to
win the team prize.
13
06
JUNE 15 26, 2015
Essential Skills for Oil and Gas Professionals

This two-week program is designed for mid-to-senior managers and supervisors from all sectors of the oil and
gas industry who seek to enhance four essential critical management skills: Leadership, Negotiation, Business
Communication, and Strategic Planning. The program is taught by highly regarded instructors who have broad
and practical management experience in the international oil and gas industry or are specialists in the area in
which they teach.
JUNE 15 19, 2015
UN IT O NE
L E A D E R S H I P A N D ES S EN T I A L N EG O T I AT I O N S K I L L S
AFRICA
Republic of Nicola
JUNE 22 26, 2015
U NIT T W O
W HO SHOULD ATTEND
This program is designed specifically for

mid- to senior- managers and supervisors
from all sectors of the oil and gas industry
who wish to enhance their competencies in
four essential management areas.
INS T R UCTORS

Elizabeth MacDonald, MA
Robert F. Ryan, MS
Kermitt Walrond, PhD
Leadership Skills Needed for

High Performance Organizations
Effective individual and team leadership and
management: motivation, managerial styles;
organizational climate; goal setting and action
planning; leading change methodology;
simulation, presentation, discussion, case
studies, small group work, and assessment.
Leadership Case Study:
Transforming the U.S. Marketing
and Refining Division of a Major
Oil Company
How a major oil company went from last
to first in net margin per gallon in the
marketing and refining of gasoline in the U.S.
How strategic planning, leadership skills,
and the use of the Balanced Scorecard were
fundamental to this success.
Essential Negotiation Skills:
A Process for Positive Results
The essentials of positive negotiation: the
process of positive negotiation developed at
the Harvard Negotiation Workshop applied to
a petroleum case study. The key steps you will
take to successful negotiations are:
Step One:
Discover Underlying Interests of the Parties
Underlying motivations; needs and concerns,
fears and aspirations; understand your
interests; understand the interests of the other
side.
IHRDCs Robert Ryan conducts an interactive

Leadership Skills session.
14
Step Three:
Identify and Use Independent Standards
Making negotiation a joint search for
independent standards; use standards to
persuade and protect; distinguish which
standards are appropriate.
Step Four:
Deal with People Problems
Separate the people from the negotiating
problem; use people techniques to solve
people problems: acknowledge emotions
without blaming, improve communication,
listen actively.
Step Five:
Generating Alternatives to a
Negotiated Solution
Explore alternatives to the existing negotiated
outcome; improve the terms of the
negotiations; have an alternative solution in
your back pocket; enhance confidence in the
negotiating process.
Step Six:
Reaching Closure
Think about closure before you begin
negotiations; move toward closure gradually
as negotiations proceed; start with a
framework for agreement; only agree to
everything at the end.
Step Two:
Generate Options to a Negotiated Solution
Inventing options to meet underlying
interests; option as a possible agreement but
not a commitment; obstacles that inhibit the
invention of options.
Atlantic Ocean
E FFE CT IV E B US IN E S S CO MMUN ICAT IO N AN D S T R AT E GIC P LAN N IN G
D EVELOPING NICOILS
STRATEGIC PLAN: NICOLA
Effective Business Communication

Setting a communication strategy: credibility,
persuasion, and channel choice. Presentation
structure: writing vs. presentations vs.
meetings vs. one-to-one conversations;
writing more effectively; making effective
presentations; running efficient meetings;
speaking effectively one-on-one. Case studies
and workshop sessions.

make real-life strategic decisions that commonly
confront managers in the international petroleum
business today.
Teams have been retained to work with a small
U.S. company of exploration specialists, Nicoil,
that has made a major oil and gas discovery on a
shallow offshore block licensed by the Republic
of Nicola, an island republic off the west coast of
Africa. Reports state that two major discoveries
were made: an oil reservoir containing an
estimated 50 million barrels in-place and a deeper
gas discovery containing an estimated 5 TCF
in-place. The team assignment is to develop a
strategic plan for the company.
Strategic Planning and Implementation

Major trends and drivers of change within the
international oil and gas industry: anticipating
the future throughout the oil and gas value
chains. Latest approaches to strategic planning
and its importance for setting company
vision and goals; effective implementation
of strategy; planning and implementation
of the plan using the Balanced Scorecard.
Historical structure of the international oil and
gas industry. Examples of strategic planning
by key international companies including
Petrobras, Mobil Oil, and others.
A consultant has provided the company with a

menu of options that it could pursue to maximize
the value of its discoveries. It will be up to teams
to decide on Nicoils business strategy and then
prepare and implement a strategic plan.

n
This program is one in a million. I have attended several
professional and management courses in the U.S. and
I dentify Nicoils strategic plan, vision, and

mission statement
Convert strategic plan to Balanced Scorecard
Adopt Balanced Scorecard to implement plan
Identify Nicoils corporate culture
Europe, but IHRDC outperforms them all.

2013 Participant
15
hw
ay
For more than twenty years, participants have consistently called this The BEST management program in
the petroleum industry today! The four-week program provides learning in four key areas and includes
compelling lectures by a strong and diverse faculty, as well as team participation in IHRDCs unique and
challenging oil and gas business games.
Hig
07
25th
SEPTEMBER 14 OCTOBER 9, 2015
Brads
Cove
Refinery
Site
Highway 1A
Sandland
Ann
Ann
U P STR E A M S ECT O RS , PRO J ECT ECO N O MI CS , A N D PET R O L EU M ACCO U N T I N G
DO WN S T R E AM S E CT O R S AN D P E T R O LE UM E CO N O MICS
WHO SHOULD ATTEN D
This program is intended for managers in the

many functional areas of the international
petroleum and natural gas industry, including
exploration, production, refinery and
petrochemical operations, marketing,
law, human resources, accounting,
and finance. More than 1,700 managers
have taken this program, including
individuals who hold very senior positions in
the oil and gas industry.
INS T R UCTORS

Meg Annesley, BS
Erhan Aslan, PhD
Marshall E. Frank, BS
Shashi Kumar, PhD
Michael Lynch, MS
Skip Maryan, JD
Robert Meyer, MA
Carlos Peralta, MBA
Robert F. Ryan, MS
Jack A. Slotnick, CPEA
Kermitt Walrond, PhD
Overview of the Energy Industry

Typical host country exploration agreements:
summary of the history and key provisions,
including bonus payments, royalties, taxes;
production sharing; participation arrangements.
Exploration Methods

in drilling.
Field Development and Production Cycle
Onshore and offshore field development
and long-term production subsurface
design; reservoir fundamentals and
reserves estimation: field development;
inflow performance; integrated reservoir
management; and enhanced recovery. Surface
facilities design: design for both onshore and
offshore operations; production operations
and management; investment analysis and
reporting of performance; case studies.
Gas Processing and Marketing of LPGs
Properties of gas and gas liquids; processing of
associated gas; markets for LPGs; economics
of natural gas plants.
Crude Oil and Natural Gas

Pipeline Systems
Introduction to crude oil and natural gas
pipelines; design, construction, and operation
of pipeline systems; estimating project
costs; pipeline contracts and tariffs; new
pipeline developments.
How companies report to their shareholders;
GAAP principles; income statement; balance
sheet; cash flow statement; equity statement;
taxation and tax codes; preparing corporate
financials; the audit; reading a major company
annual report; measures of performance and
the setting of company goals.
Petroleum Industry Accounting
and Taxation
Successful efforts vs. full-cost accounting;
corporate taxation; petroleum taxation;
accounting for host government and joint
venture agreements; supplemental reserves
reports included in annual reports.
Unconventional Oil and Gas Resources
A comprehensive and practical understanding
of the processes that are applied in the development
of unconventional oil and gas projects, by
looking at some active investment areas.
money; opportunity cost and present value of
net cash flow; discounted cash flow analysis
and internal rate of return; risk assessment
and sensitivity analysis; examples of the
economic analysis of energy projects.
Atlantic
Ocean
Worldwide Petroleum Economics

Worldwide energy supply; demand; reserves;
pricing: corporate strategy; recent history and
prediction of future trends; how petroleum
economists make predictions.
Markets for Associated Natural Gas
The natural gas value chain: industry
structure and regional markets, interfuel
competition; gas distribution; regulation and
deregulation; economics and markets for gas,
including combined-cycle power plants, LNG,
ammonia, methanol, and gas-to-liquids.
Refining and Petrochemicals
Refinery: capacity evolution; technology
changes; capital and operating costs;
profitability; net-back estimation and recent
trends. Petrochemicals in perspective:
links to refining; key product families;
industry drivers: cost of production,
supply and demand; profitability and price
forecasting; prospects for the future: maturity,
environmental concerns, global competition.
Crude Oil Tanker Transportation

The tanker industry and market trends:
an overview of the main characteristics
of crude tankers; capital and operating
costs; pollution at sea and new regulations;
calculating tanker transportation rates;
Worldscale and charter arrangements.
Marketing of Crude Oil and Products
Development of the free market for oil;
current international market structure;
regional markets: physicals, futures,
forwards, derivatives, options; roles
of participants, price formation, price
volatility; price reporting; crude oil and
product pricing; negotiating and pricing
petroleum sales contracts; introduction to
hedging and price risk management.
Products Distribution
Distribution and retail marketing of
petroleum products; structure of the
margins realized along the distribution
value chain; transitions in the marketing
of transportation fuels; economics of the
modern gasoline station.
The business game during Units One and Two is an

integral part of the learning process. Participants,
divided into teams, make real-life technical, financial,
and market decisions that commonly confront
managers in the international petroleum business
today. Team performance is measured on a financial
basis and is catalyzed by healthy competition.
The international petroleum business game takes
place in Sandland, a fictitious country on the
west coast of Africa. Team objectives include
developing oil and gas reserves and deciding
on the optimal way to develop and market the
production. During each workshop session,
teams are provided with technical and economic
background that serve as basis for decisions to be
made during that session. Team decisions are made
and require a commitment of both capital and
operating funds and occur during the following
intervals: three years of exploration, two years of
development, and fifteen years of production.
n
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with a lot of new insights and learnings.

2014 Participant
n
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n
n
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16
r
ve
Ri
INTERNATIONAL PETROLEUM
BUSINESS GAM E: SAND LAND
Outstanding, very engaging and rewarding
dla
nd
SEPTEMBER 21 25, 2015
U NIT T W O
Sa n
S E P T E M BER 14 18, 2015
UN IT O NE
National Forest
Introduction to the workshop

Negotiating the right to explore in Sandland
The exploration survey stage
Exploration and delineation drilling
Reserves estimation and field development
Gas processing
Oil and gas pipelines and port facilities
Sandland operations accounting
Combined-cycle power plants
Oil tanker charter decisions
Refinery development decisions
Financing the port expansion
Ammonia plants
Gas export pipeline decisions
Crude oil marketing decisions
Strategic planning and decision analysis
17
25th
07
AFRICA
hw
ay 1
P E TR OL E U M PRO J ECT D EV EL O PMEN T
Hig
los
Refinery
Co
ve
Highway 1A
Gas
Sucre
National
Forest
Santos
Field Site
140 km
Grid Site
e
Riv
Lla
no
Pacific Ocean
LAT IN AMERI CA POWER

W O R K S HOP: SUCRE
During Unit Three, teams are asked to develop

a realistic CCGT power project in the Republic
of Sucre, a fictitious country in Latin America.
Each team is asked to prepare a business plan
for the project, which will include a set of
decisions with respect to construction, fuel
supply and power purchase agreements, EPC
and O&M contracts, and financing. Decisions
will be run over 15 years of simulated
operations for the business game environment.
W O R K S HOP SESSI ON S I NC L U DE :
Project description, management, and
market analysis
n Project economics and proforma analysis
n Project schedule and management plan
n Identifying the project risks
n Reviewing the financing term sheet
n Design the project financing
n Review the fuel supply and power
sales agreements
n Evaluation of performance and presentation
of results
n
18
S E P T E M B E R 28 OCTOBER 2, 2015
UN IT THR EE
continued
Car
The Process of Commercializing

Energy Projects
Key steps in the formation and
commercialization of an energy project from
opportunity to operation; screening and
feasibility analysis; design and development;
key project agreements; preparing proforma
financial projections; risk analysis and
risk management; project management;
project definition; resource scheduling, cost
estimating; project controls; cost engineering;
detailed engineering; procurement;
construction management; project accounting
and auditing; environmental management.
Project Management Institute (PMI) body of
knowledge and certification requirements.
Project Planning and Management
of Energy Projects
Steps in the development of a petroleum
project: screening studies, feasibility studies;
detailed engineering, environmental studies;
financing construction and operation. Project
management examples of energy projects: the
integrated planning and development of an
international combined-cycle power plant.
Case study: Developing the Steuben Gas
Storage Facility.
OCTOBER 5 9, 2015
U NIT F OU R
K E Y S K ILLS FO R T HE P E T R O LE UM MAN AGE R
Petroleum Law
Key legal issues in petroleum management;
transnational and international oil and
gas law; the role of law in commercial
transactions: role of the legal system; role
of the attorney; commercial relationships;
host country agreements and government
relations, joint venture agreements; oil and
gas contracts and agreements; crude oil sales
and transportation; risk management and
dispute resolution.
Financing of Energy Projects
Financing petroleum projects; sources of debt
and equity; preparing the financing proposal;
negotiating financing; reaching the decision
to proceed; project financing: structuring,
role of multilateral and bilateral agencies; case
studies: project financing of international oil,
gas, and power projects.
Industry Regulation,
Deregulation, and Convergence
The nature of regulation in the energy sector;
history and current state of the gas industry
deregulation process at the wholesale and retail
markets: U.S., Europe, and elsewhere; effect of
deregulation on the structure of the industry;
convergence of gas and power.
Health, Safety, and Environmental (HSE)

Challenges in Petroleum Operations
Worldwide developments in HSE
performance, management, and regulations;
key technical, managerial, and societal issues
and responses; sustainable development,
eco-efficiency, social impact; factors that affect
cost; integration of HSE in the business; risk
acceptance and tolerance, due diligence,
accountability, liability; integrated health,
safety, and environmental management
systems, international standards, ISO 14001
certification, EMAS verification, audit,
reporting and assurance to stakeholders.
Leadership Skills Needed for High

Performance Organizations
Effective leadership and management:
motivation, managerial styles; organizational
climate; goal setting and action planning;
leading change methodology; simulation,
presentation, discussion, case studies, small
group work, and assessment.
Leadership Case Study: Transforming
the U.S. Marketing and Refining Division
of a Major Oil Company
How a major oil company went from last
to first in net margin per gallon in the
marketing and refining of gasoline in the U.S.
How strategic planning, leadership skills,
and the use of the Balanced Scorecard were
fundamental to this success.
Current HR Practices in
International Oil and Gas
Current HR policies and procedures,
organizational design, recruitment, manpower
planning and development in the performance
of the organization; defining job-specific
competency models and development plans.
Strategic Planning and Implementation

Major trends and drivers of change within
the international oil and gas industry:
anticipating the future throughout the oil
and gas value chains. Latest approaches to
strategic planning and how important such
plans are for setting company vision and
goals; effective implementation of strategy;
planning and implementation of the plan
using the Balanced Scorecard. Historical
structure of the international oil and gas
industry. Examples of strategic planning
by key international companies including
Petrobras, Mobil Oil, and others.
Essential Negotiation Skills:
A Process for Positive Results
The essentials of positive negotiation: the
process of positive negotiation developed at
the Harvard Negotiation Workshop applied
to a petroleum case study. The key steps
you will take to successful negotiations
are: identify interests, invent options,
use standards, manage people problems,
develop alternatives, BATNA, and reach
closure. Team participation in an oil and gas
case study.
Republic of Nicola
Atlantic Ocean
D EVELOPING NICOILS
During Unit Four of this program, teams have

been retained to work with a small U.S. company
of exploration specialists, Nicoil. They have
made a major oil and gas discovery on a shallow
offshore block licensed by the Republic of Nicola,
an island republic off the west coast of Africa.
Reports state that two major discoveries were
made: an oil reservoir containing an estimated 50
million barrels in-place and a deeper gas discovery
containing an estimated 5 TCF in-place. The
team assignment is to develop a strategic plan.
prepare and implement a plan to achieve strategic
and business goals.

Identify Nicoils strategic plan, vision, and mission
Prepare a big picture view of Nicoils needs
and opportunities
n Convert strategic plan to Balanced Scorecard
n Adopt Balanced Scorecard to implement plan
n
n
19
08
HR Processes, Competency Development,

and Change Management Program
This program is ideal for those who seek a firm grounding in the Human Resource (HR) challenges facing
the international oil and gas industry today, and the ways in which HR can contribute to implementing
strategic plans, including the management of change.
UN IT O NE
HR M A NA G EMEN T FO R O I L A N D G A S MA N A G ERS A N D S U PERV IS O R S
AFRICA
Republic of Nicola
OCTOBER 5 9, 2015
U NIT T W O
W HO SHOULD ATTEND
This program is designed specifically for midto senior- managers and supervisors from all
sectors of the oil and gas industry who wish
to enhance their competencies in essential
HR management areas.
INS T R UCTORS

Robert Meyer, MA
Kevin Rohan, MBA
Joseph Schechtman, MS
Carol Ann Sharicz, PhD
Overview of the Petroleum

Industry Today
Systems Thinking:
Developing a Big Picture Vision
Benefits of systems thinking to HR
professionals; thinking systemically; attitudes
and behavior; and understanding complexity.
Building the Workforce Scorecard
Introduction to the Workforce Scorecard;
methods to align workforce with
corporate strategy; measuring workforce
success through metrics; three
challenges to successful implementation;
integrating with the Balanced Scorecard.
Emotional Intelligence
and the Corporate Culture
Organizational culture and change;
emotional intelligence and applying
emotional intelligence in your organization.
Human Resource Management
HR processes; HR strategy model; building
a manpower plan; source of personnel;
recruiting and compensation.
Developing Competent Managers,
Specialists, and O&M Personnel
in the Oil and Gas Industry
Typical competency levels, competency
assurance system and process; effective
development options using traditional and
technology-based learning methods.
This program is a must for all HR practitioners that

would like to grow in this profession.
2014 Participant
Atlantic Ocean
CHAN GE MAN AGE ME N T AN D CO MMUN ICAT IO N
Change Management Overview

Understand key principles, systematic
framework, and tools for an effective
change. Elements of the overview include
stakeholders; culture; values; HR target
model; future vision; stakeholder model;
organizational design; manpower and
succession planning.
Change Strategy
Develop a strategic change plan that includes
both risks and durability. Elements of change
strategy include a seven-element grid for
planning; stakeholder assessments; inquiry
and feedback sessions and preliminary
communications.
The Change Plan
Understand the blending of change elements
into an overall strategic plan. Elements of
the change plan include tactics by phase; by
stakeholder; change communications, and
project plan vs. change plan.
Change Assessment
Understand how a proposed change will
impact an organization, and how to create
an approach to achieve the vision. Elements
of change assessment include the change
management measurement model; translating
the change into phases; and 3 x 3 change risk
assessment.
Change Leadership
Understand that leaders will anticipate
the emotional changes of stakeholders.
Determine the support they will require.
Elements of leaders in change include
executive coaching before, during, and
after; emotional intelligence Meyers
Briggs, DISC, and Seven Points;
Performance Dip and Zero-Sum Game.
Sustaining the Change
Validate that a change implementation plan
is geared for sustainability. Sustaining the
change includes measures and elements;
survey and feedback techniques, and the
change management model.
Individual Personalities:
Whole Brain Theory
Whole Brain Theory and the Benziger
Model; thinking styles and the natural
giftedness of each individual; falsifying
type: personal and societal costs; and the
four specialized functions of the brain.
D EVELOPING NICOILS H R AND


learning process. Teams of participants make
real-life strategic and HR decisions that commonly
confront managers in the international petroleum
business today.
Teams have been retained to work with a small U.S.
company of exploration specialists, Nicoil, that has
made a major oil and gas discovery on a shallow
offshore block licensed by the Republic of Nicola,
an island republic off the west coast of Africa.
Reports state that two major discoveries were
made: an oil reservoir containing an estimated 50
million barrels in-place and a deeper gas discovery
containing an estimated 5 TCF in-place. The team
assignment is to develop a strategic plan, which
includes a comprehensive HR plan.
prepare and implement a Workforce Success
Strategy to achieve strategic and business goals.
n
n
Change Planning and Communication

Development of a sample tactical change plan
that is easy to understand by all stakeholders.
Elements of change planning include
communication and engagement planning;
project plan vs. change plan; and integration
with day-to-day business.
n
n
n
n
n
n
n
n
n
n
20
Identify Nicoils strategic plan, vision, and mission

Prepare a big picture view of Nicoils needs
and opportunities
Convert strategic plan to Balanced Scorecard
Adopt Balanced Scorecard to implement plan
Planning the Nicoil organization and
Workforce Scorecard
Identify Nicoils corporate culture
Build the Workforce Scorecard
Build Nicoils leadership
Add management and specialists functions
Add O&M specialists
Identify HR best practices for Nicoil
Plan the merger of ManOil with Nicoil
Team presentations of HR plans
21
09
OCTOBER 19 23, 2015
International Petroleum Law Workshop

During this program, participants will learn the practical aspects of petroleum law. The principles of law
and legal practice will be applied to typical legal documents and issues that arise when a company
enters a country to negotiate a host country agreement through the drilling of wells, field development,
and the negotiation of transportation, lifting, and sales agreements. The program will demystify the
fundamentals of legal analysis, the language and meaning of legal documents and, in the process,
enhance the participants working relationship with their legal team. The program scope is broad,
highlighting the most important legal and regulatory issues that exist in the different phases of the upstream
and midstream petroleum business.
L E C TU R E S ES S I O N S
W HO SHOULD ATTEND
The program is most beneficial to

energy industry professionals who are
currently working as mid-level managers,
administrators, technical, or government
personnel. It is especially useful to individuals
who routinely interact with lawyers in
administering contracts, or who work
with lawyers on business teams or in a
negotiating setting. Young lawyers who have
recently entered the petroleum business may
also find this program useful.
INS T R UCTORS

Erhan Aslan, PhD
Skip Maryan, JD
Introduction to the Legal Process, the Petroleum Lawyer,

and Basic Principles of International Petroleum Law
Introductionpurpose of commercial law (predictability, control of behavior); how laws are
organized: civil law, common law, topical laws (e.g. environmental law, criminal law) and
regulations; how laws work (enforceability); difference between a law question and a fact question;
method of legal analysis (how lawyers are trained to approach problems). Lawyershow the law
profession is organized (by employer and specialty); lawyers inside petroleum companies; lawyers
outside petroleum companies (law firms and government lawyers). International petroleum law
basic principlessovereign ownership; rule of capture; sanctity of contract.
Legal Considerations When Entering a New Country
How to use a lawyerfatal flaw analysis; universal common issues (authority, institutional risks,
e.g. dispute mechanisms generally), local law, treaties (how can they help or hurt); four selected
common issues (export rights, banking and currency conversion, structure of foreign investment, and
environmental laws); example: Bilateral Investment Treaty.
Host Country Agreements: Legal Structure and Fiscal Terms
Overviewproduction sharing; tax and royalty; service contract; hybrid. Special problems
contracting with a governmentauthority; police power and expropriation; unilateral changes
(creeping expropriation); sovereign immunity; stability clauses.
Standard Joint Interest Petroleum Agreements: Joint Venture and
Joint Operating Agreements
What they are and how they work; outline of provisions; the most important issues including
promises made to the government, discovery vs. commercial discovery, standard of
performance, project governance (plans, budgets, meetings, voting, disagreements, transfers,
withdrawal, disputes, basic accounting). Unitization: concept and five major issues to negotiate.
Principles and Applications of Contract Law and Petroleum Service Agreements
Offersa promise; how offers are made; bid solicitations (RFPs); terms of an offer. Acceptancehow
acceptance is made; acceptance varying terms; cultural and language problems in international
contracting. Written contractswhy writing is important (frauds, parole evidence rule); examination
of important clauses (consideration, capacity to contract, entire agreement, changes, waiver). Oil
and gas industry examples: Petroleum Service Agreements.
Forming Business Organizations: Joint Ventures, Partnerships
Three Modelscorporation; partnership; unincorporated joint venture. Taxationpermanent
establishments; double taxation; tax treaties; use of SPVs (tax deferrals and sales). Three structures
comparedliability; taxation; operational considerations; acquiring and divesting interests in a
business. Oil and gas industry examples.
22
Agency, Products, and Liability Law:

Subcontractors, Suppliers, Warranties, Indemnity, and Insurance
Tort lawduty to others; the concept of negligence; vicarious liability (acts of an agent);
damages (actual, consequential, punitive). Warrantiespromises of quality or performance;
expressed and implied warranties; disclaimers. Indemnityrisk sharing inside the contract;
knock for knock indemnities; no fault provisions; enforceability. Insurancerisk sharing
outside the contract; who is insured; primary insurance and contribution; subrogation.
Drilling Contracts: Management of Problems When Drilling a Well
The drilling contracta review of offshore international drilling contract terms with discussion
related to: liability; damages; warranties and disclaimers; indemnity; insurance. Drilling and
the environmentinternational corporate responsibility; environmental standards and lending;
review and discussion of an environmental law in host government contracts and in the joint
operating agreement; abandonment of operations.
Oil Lifting, Sales, and Hedging Agreements
Lifting Arrangementsthe terminal; quality bank contracts and how they work; lifting schedule
preparation; schedule implementation; failure to schedule or lift. Oil and product salesUCC sales
law; UN sales law; sales law comparison of key terms; typical sales arrangement; standby letters of
credit. Hedging agreements: NYMEX standard agreement.
Transportation: Crude Pipelines and Ships
Pipeline law issuesright of way and condemnation; regulated vs. unregulated; tariff setting;
access; capacity reservations; curtailments. Shipping law issuesadmiralty law principles; vessel
charters (rights of owners, rights of charterer, third party operators); bills of lading (negotiable
and non-negotiable).
Natural Gas and LNG Sales and Transportation Agreements
Natural gas law issues: physical and financial agreements; typical terms and conditions; natural
gas pricing and major trading hubs; special considerations for LNG; natural gas pipeline
contract terms; terms and conditions of standard forms.
Current Legal Issues
Discussion of such topics as regulatory constraints on the drilling and completion of unconventional
wells; stability causes vs. sovereignty rights; oilfield codes of conduct with respect to good oilfield
practices; decommissioning issues; oil spill preparedness and new arctic regulations.
petroleum agreements
business game: ganda
The workshop setting is the Republic of Ganda,

a small country located in East Africa across the
border from new oil discoveries in Uganda. Your
company wishes to explore for oil and gas in Ganda
and has approached the government to negotiate
one or more exploration agreements, including a
Concession Agreement and/or a Production Sharing
Contract. Another company has expressed an interest
in participating with you in the ventures. Your team
is to analyze the opportunities and select the one
it finds most appealing. You must then explore,
develop, and produce the discovered hydrocarbons
and make key market decisions. Your major
responsibilities are to review all legal documents
beginning with the negotiation of the host country
agreement and ending with the crude oil and
natural gas sales agreements. You will manage field
production through its 20-year lifecycle.

n
n
n
n
n
n
n
R
eview of exploration opportunity, preparations
for the first meeting with the government
Review of the fiscal provisions of the Ganda exploration
agreements and selection of the one that you wish to negotiate
Economic analysis of the fiscal term options of
the Ganda exploration agreement
Negotiation of the seismic and drilling agreements
Review of a typical drilling agreement
Negotiation of oil lifting, crude oil sales, and
transportation agreements
Review of oil sales agreement
Exploration and reserves estimation
Fulfilling government regulations
When Things Really Go Wrong: Criminal Law Issues

Company violations and personal jail time; when breach of a commercial contract can violate
criminal law; bribery and corruption penalties (host and home countries); tax fraud.
Business ethics: bribery, insider trading, and human rights violations.
Dispute Resolution Options
Disputes; local law, jurisdiction and courts; international arbitration; alternatives (experts and
non-binding mediation); International Court of Justice.
23
IHRDC Oil and Gas Business Workshops

Team collaboration in a challenging
workshop setting was very effective.
I cannot think of a better way to learn.
2013 Participant
IHRDC offers a number of practical workshops on energy business management that are
2015 International Offerings
taught as private in-house courses or in regional public offerings worldwide. Designed
BALI
around IHRDCs comprehensive Management Programs, these workshops are ideal for
April 13-17, 2015
learning the essentials of the international energy business.
November 16-20, 2015
dar es salaam
Each workshop combines lectures by experienced energy business specialists with a classic IHRDC business
March 23-27, 2015
game, where participants work in teams to develop and manage an energy business over a simulated 20-year
period. A business simulator is used to record each teams decisions and measure overall team performance.
LONDON
This form of learning has proven to be ideal because it challenges team members to reach decisions through
debate and discussion, while fostering collaboration with industry peers from diverse backgrounds. In essence,
Optimizing Gas Processing, Refining, and Petrochemical Facilities April 13-17, 2015
participants learn from each other in the context of a realistic case study.
Our Oil and Gas Business Workshops consistently receive very high praise. Many multi-national companies
nairobi
schedule private workshops annually to develop the important business knowledge and skills of their managers.
Overview of the International Petroleum Business
March 16-20, 2015
November 16-20, 2015
April 20-24, 2015
Please contact us at workshops@ihrdc.com to schedule

24
a private offering or go to www.ihrdc.com for more information.
25

Workshop (5 days)
LNG Business and project

development Workshop (5 days)
With Three Compelling Gas Business

Simulation Scenarios
With the Cosmos or Coral

Challenging Simulation Game
This intensive business workshop introduces

participants to all aspects of the integrated
natural gas value chain. Through formal
lectures and a challenging, team-based
business simulation, participants learn
the commercial, technical, financial,
and economic aspects of the business
from upstream gas supply, to midstream
transportation and processing, and
downstream markets. Special emphasis is
placed on LNG, gas-fired power plants, and
GTL opportunities. IHRDC has developed
three business game settings that will be
offered according to regional relevance:
In this highly regarded workshop participants

learn the businessessentials of LNG projects at
each step alongthe LNG value chain and how
to develop a project by integrating itstechnical,
commercial, legal, economic, environmental,
and project management fundamentals. The
learning objectives are achieved through a combinationof lectures by international specialists
and team participation in a challenging LNG
businessgame. With lectures as background,
participants working in teams will develop
a significant gas discovery bydeciding on gas
treatment processes and LNG technology, the
trainsize to implement, number and size of
ships to charter,receiving terminal needs, and,
among several market options, to negotiate
agreements with customers to sell the LNG.
Cosmos
In this unique IHRDC gas business workshop
setting, teams explore and develop promising
exploration blocks located within the sovereign
boundaries of the island republic of Cosmos,
located off the east coast of Africa, and manage
this opportunity from inception through 20
years of performance.
Expetra
The setting of the alternative business game
is the Atlantic Basin, where teams choose to
explore several offshore exploration blocks
in the republic of Expetra, an unexplored
island in the Caribbean just north of a major
gas discovery in Trinidad.
Singnam
This business game focuses on the challenge
of commercializing and managing a sizeable
gas prospect in Asia over a 20-year period.
The setting is an undeveloped but highly
populated hypothetical country on the South
China Sea called Singnam.
2 0 1 5 O fferings
Dar es Salaam
Bali
London
March 23 27, 2015

April 13 17, 2015
November 16 20, 2015
Note: For our two-week public International Gas

Business Management Certificate Program please
refer to page 6.
26
The opportunity is pursued by following the

Stage Gate project management process, from
opportunity assessment to startup, with the
objective of monetizing the gas resource to
achieve the highest rate of return subject to
identified risks. In the process, participants
become familiar with financing options, the
nature of LNG contracting documents, from
the Letter of Intent to SPA, cost estimating
principals, project economic analysis, and the
need to accommodate a joint venture partner,
an E&P affiliate, and government interests.
Teams will manage the project, from analysis
to integrated development decisions, followed
by 20 years ofsimulated performance. The
workshop concludes with team presentations
and the awarding of a team prize. IHRDC
has developedtwo business game settings,
Cosmos (East Africa) and Coral (offshore
Australia) that may beselected according to
regional relevance.
When possible, we will arrange to visit an LNG
facility, if it is local and access is available.
Note: For our two-week public International LNG
refer to page 12.
International LNG Business

Management Certificate
Program (10 days)
Incorporating the Cosmos LNG Project

Development Simulation
This program follows the development of an
LNG project, as a major capital investment
undertaking, from opportunity assessment to
design, construction, commissioning, startup,
and operation. It is offered annually on a public
basis in Boston but it may also be offered on a
private basis.
refer to page 12.
LNG Receiving Terminal

Business Fundamentals
Workshop (5 days)
With the Stanpak LNG Receiving

Terminal Design Simulation
Companies planning to import LNG may
wish to schedule this workshop as a followup to the 5-day LNG Business and Project
Development Workshop referenced on this page,
which focuses on the business essentials of
exporting LNG by introducing participants
to the LNG business and the development of
an LNG export facility. This additional 5-day
LNG Receiving Terminal Business Fundamentals
Workshop turns to the business concerns of
the importer.
The workshops learning format consists of
lectures by LNG specialists, and a business
simulation game designed around business
opportunities facing the owner of a proposed
LNG receiving terminal in a hypothetical
country that has a growing need for natural
gas. The session begins with an analysis of
LNG receiving terminal design options and
the capital and operating costs of each option.
The country or regional market demand will
be analyzed to identify major market sectors,
load factors, infrastructure needs, and strategic
investment options to reach new markets and
the pricing of alternative fuels. This analysis
leads to market demand profiles and cost to
deliver gas into various markets. Subsequently,
the focus will turn to LNG supply and the
options available to purchase or otherwise

obtain supplies of LNG. This session also
includes the negotiation of SPA agreements
with suppliers.
Business Workshop (5 days)
Overview of the International

Petroleum Business (4 days)
With an Engaging Petroleum Business

Simulation
Offering Two Realistic Petroleum

Business Scenarios
The simulation game sessions are integrated

with the lectures allowing participants,
working in teams, to prepare a plan for one
or more LNG import terminals to meet the
market gas needs of Stanpak, a republic
in South Asia. Teams will consider LNG
terminal options, analyze the countrys growing
market demand, and their ability to expand
infrastructure to reach wider markets. With this
background teams will analyze market options
and negotiate LNG purchase agreements as
an essential part of making an integrated
project decision. After 20 years ofsimulated
performance the teams will receive their
results, make their team presentation, and learn
whether they won the team prize.
This workshop uses lectures and a business

simulation to provide a thorough grounding
in the petroleum (oil and gas) value chain,
including exploration agreements, exploration
methods, drilling, field development,
production, reservoir engineering and
enhanced recovery, pipeline transmission,
refinery and petrochemical operations, and
marketing of crude oil and products. During
the business game, participants work in
teams to find and develop oil and gas reserves
in the west African republic of Sandland
and decide the optimal way to develop and
market the production. In each session, the
teams are given background information on
the technical and economic aspects of the
decision to be made during that session. They
will pursue the development and marketing of
the discovered oil and gas from the upstream
to the midstream and downstream markets
over a 20-year period. As participants apply
classroom knowledge to practical job-related
problems, they also develop the key financial
skills used to measure project and corporate
performance, including project investment
analysis and financial statements.
This workshop is an abbreviated version of our

popular International Petroleum Business Workshop.
It is ideal for individuals from many different
backgrounds (lawyers, accountants, HR, IT
specialists, etc.) who seek a broad introduction to
the international petroleum industry. It exposes
participants to the integrated oil and gas value
chains through a combination of overview
lectures and team participation in a challenging
business simulation. IHRDC has developed two
business simulation settings that may be offered
according to regional relevance:
When possible, we will arrange to visit an LNG

receiving terminal, if it is local and access is
available.
International Power
Business Workshop (4 days)
Featuring Sucre, a Challenging

Simulation of the Power Business
This workshop provides international oil, gas,
and power professionals with an overview
of the international power business, with
special emphasis on the commercialization of
combined-cycle, gas-fired power plants. The
instructional format includes formal lectures
and a challenging, team-oriented business
game. During the business game, teams will
plan the financial development and operation
of a combined-cycle power plant. Participants
will also be asked to prepare a business plan
for the project. This popular program has been
taught for many international corporations.
Note: For our two-week public International

Petroleum Business Program please refer to page 4.
Buffalo
The setting of this simulation is the
continental United States, where teams will
explore, develop, and market the production
from an exploration lead that has been
identified in the state of Wyoming. Teams will
compete with each other and the financial
performance of their decisions evaluated.
Sandland
This business game focuses on an integrated
oil company in Sandland, a fictitious country
on the west coast of Africa. Teams explore and
develop oil and gas reserves and decide on the
optimal way to market the production. The
business simulation takes place over a 20-year
period and individual teams are evaluated on
their financial performance.
2 0 1 5 O ffering
Nairobi
April 20 24, 2015
27

Law workshop (5 days)
Incorporating the GandaLegal

Simulation Game
This program will provide participants with the
practical aspects of petroleum law: how the law
works in practice; how to read and comment on
legal documents, procedures and regulations; and
how to work with and assist members of their legal
team. The principles of law and legal practice will be
applied to the typical legal documents and issues that
arise as a company first enters a country to negotiate
a host country agreement covering the drilling of
wells and the negotiation of transportation, lifting,
and sales agreements. The program will demystify
the fundamentals of legal analysis and the language
and meaning of legal documents and, in the process,
it will enhance the participants working relationship
with the legal team. The program scope will be broad,
highlighting the most important legal and regulatory
issues that exist in different phases of the upstream
and midstream petroleum business. The instructional
format will consist of lectures and case discussions by
experienced faculty, team participation in Ganda, a
challenging simulation game, and group examination
and discussion of sample contracts.
Note: For our public International Petroleum Law
Workshop please refer to page 22.
E&P Project Development

Workshop (5 days)
With a Realistic Upstream Project

Simulation
This challenging digital workshop allows
participants to learn the commercial, technical,
economic, and project management processes
(i.e. the industrys Stage Gate process) required
to explore for and develop a deepwater offshore
field. It covers all aspects of a classical upstream
project management process, including seismic
program design and analysis, exploration and
appraisal drilling decisions, field development
planning including resources estimation, well and
reservoir performance predictions, uncertainty
management, and project economics.
All workshop communications and analysis
tools (including well logs, reservoir simulation,
risk analysis and financial models, and decision
analysis) are available to participants in a digital
framework. This unique instructional format
includes engaging mentors who guide the
teams step-by-step through the exploration and
development of a deepwater offshore prospect in
the west coast of Africa. Teams will make sequential
decisions to move an attractive exploration
opportunity along a simulated project timeline,
from the execution of the exploration agreement
to the field development decision. Each teams
development decisions are captured by the
digital application and their financial outcome is
presented over a 20-year production period.
Note: IHRDC recommends that those attending
this program have some background in upstream
petroleum technology.
IHRDCs Charles Brankman assists during a workshop session in the IHRDC Management Institute.
28
The Integrated Upstream

Petroleum Business Workshop:
From Exploration to LongTerm Production (10 days)
Management of International
Featuring a Major Upstream Project

Management Simulation
With an Engaging LNG Project

Development Simulation
This program will present, in a challenging

workshop format encompassing
approximately 50 percent of the instruction
time, the essential analysis and decisions that
are made by geoscientists, engineers, and
project managers working in multidisciplinary
teams, as they explore for and develop a
deepwater, offshore petroleum prospect in
Atlantica, an island republic in the Gulf
of Guinea, on the west coast of Africa. The
workshop consists of team participation in
a realistic Stage Gate project management
simulation of this major upstream project.
Workshop sessions are devoted to host
country agreements, seismic program design
and analysis, exploration drilling decisions,
field development planning, including
deterministic and probabilistic reserves
estimation, well and reservoir performance
evaluation, surface facilities design, risk and
uncertainty management, project economics
including sensitivity analysis, and the
management of field production through the
full E&P lifecycle.
This program provides a comprehensive

overview of the challenges involved in
developing and executing international
petroleum projects. The program covers
all aspects of the project development and
execution process from concept to startup with
particular focus on a systematic Stage Gate
project management process to make timely
decisions during the various phases of the
project. Participants will learn how to assess
and ensure the economics of the proposed
investment and understand the planning
process associated with EPC (Engineering,
Procurement, and Construction) of major
capital projects and steps for a successful
execution. An LNG project off the coast of
East Africa is considered during the simulation
workshop where teams will analyze, plan, and
develop the market opportunities for a recent
discovery in the region and subsequently select
the optimal investment, execute the project,
and commission the plant safely.
The program will also incorporate the

commercial aspects of upstream decisions
through sessions on the analysis of host country
fiscal agreements, joint venture arrangements,
measuring company financial performance,
obtaining debt and equity capital, marketing
of oil, gas and gas liquids, and satisfying the
many regulations necessary in todays industry.
During the program, teams will make short
presentations to their mentors and a major one
at the end of the program summarizing their
decisions and overall performance.
Petroleum Projects: From

Concept to Startup, LNG
case study (5 days)

refer to page 12.
DEVELOPMENT OF
Unconventional Gas AND GAS
LIQUIDS ProjectS (5 days)
A Gas Project Development Simulation

in the Marcellus Shale
The ongoing shale gas boom is a popular
topic in the global oil and gas industry
today. This timely workshop focuses on the
critical technical and business issues related
to developing unconventional gas resources.
The design of this course combines lectures,
class discussion, and team participation in
an interactive learning simulation aiming
to enhance the integrated understanding of
technical, economic, commercial, financial,
and regulatory considerations leading to
development of unconventional gas projects.
Four major segments of an unconventional
project lifecycle, namely, identification of the
resource potential, evaluation of commercial
viability and development alternatives, project
construction, and production operations will

be covered in detail over this five-day program.
The impact of increasing unconventional gas
production to midstream and downstream
segments of the industry is also evaluated as
part of the lectures.
During the interactive learning simulation
sessions, participants will work on evaluating a
Marcellus shale gas opportunity from its initial
assessment to pilot prospect, field development
planning, and into long-term production.
Technical, commercial, and environmental
considerations of an unconventional project
development are all covered within the context
of this challenging simulation.
Optimizing Gas Processing,

Refining, and Petrochemical
Facilities (5 days)
Including Bilitan, an Integrated

Petrochemical Simulation
This five-day workshop provides a
comprehensive overview of todays
international refining, gas processing, and
petrochemicals businesses and how they
can be integrated in response to commercial
and market changes to maximize overall
performance. The program consists of a
careful balance of lectures by a recognized
industry specialist and team participation in a
challenging business simulation mentored by
a workshop facilitator. This unique blended
learning format has proven to be the best
way for participants to internalize the lecture
content in a challenging and enjoyable teambased environment. In the process, participants
learn the complexities and business challenges
of the emerging petrochemical industry and
the opportunities that exist to integrate these
three sectors to maximize competitiveness.
Secondary benefits include extensive
participant networking, team leadership
development, decision-making skills, and
experience in making formal presentations.
2 0 1 5 O ffering
London
April 13 17, 2015
Financial Modeling for the Oil

and Gas Industry (5 days)
With Oceana, Financial Simulation

Game
Participants in this program will gain an
integrated and practical understanding
of financial analysis for the oil and gas
industry. The program will provide a sound
understanding of accounting and financial tools,
key financial means of project performance,
associated cost and expenses, profit earning,
and key strategic drivers for financial success.
The instructional format consists of lectures by
a respected specialist and team participation in
a classic IHRDC business simulation, an integral
part of the learning process. The workshop
setting is the fictitious republic of Oceana,
near Indonesia, where participant teams will
decisions that commonly confront managers in
the international energy business today.
Note: For our two-week public Financial Modeling
and Petroleum Project Economics program please
refer to page 8.

and Risk Analysis (5 days)
Offering a Dynamic Business Simulation

This program teaches participants how to
analyze, in a practical and realistic manner,
the financial performance of oil and gas
investments from both project and corporate
perspectives. Attendees are asked to build
financial models for typical oil and gas projects,
calculate the standard measures of project
performance (PV, IRR), and incorporate all
project risks into the analysis using such
processes as tornado diagrams, decision trees,
scenario analysis, portfolio analysis, and
Monte Carlo simulation. A major part of the
learning is achieved through team participation
in a challenging business simulation in the
republic of Oceana where each team analyzes
a major upstream project and presents their
pre-development recommendations and postdevelopment results to an evaluation board.
2 0 1 5 O fferings
London
Bali
March 16 20, 2015

November 16 20, 2015
Note: For our two-week public Financial Modeling

and Petroleum Project Economics program please
refer to page 8.
29

buildiNG A WORLD-CLASS
Competency Management
WORKFORCE: A COMPETENCY-
Workshop (3 days)
BASED APPROACH (5 days)
This interactive, team-based workshop is

designed for managers and HR specialists
who want to learn how to use competency
foundations in building a world-class
workforce. The program approach is centered
on defining, applying, and investing in
the concept of workforce success and on
identifying shared line management and HR
accountabilities. The program will provide
participants with both the skills and confidence
to immediately use their learning in strategic
business discussions within their organizations.
In the first half of the program, participants
explore the principles behind Norton and
Kaplans Balanced Scorecard. Using an oil and
gas industry case study, the Organizational
Learning & Growth element of the scorecard
is put under a microscope, allowing a full
examination of leadership and workforce
behaviors, skills and competencies, and
HR policy impacts. Workshops focus on
differentiating strategic workforce capability
from staying in business or industry baseline
capability, ensuring that the right people are in
the most strategic jobs, and that competency
program investments are targeted appropriately.
The remainder of the program focuses on the
practical aspects of generating competency
profiles, conducting assessments, identifying
skill gaps, and building development plans
to close gaps and align with an organizations
strategic and financial targets. IHRDCs online
Competency Management System (CMS)
will be used to demonstrate how this process
can be administered effectively in any work
environment. Upon completing the program,
participants will understand how a competencybased approach is beneficial to remaining
competitive in todays energy industry.
30
Participants in this workshop will learn a

solid competency framework that reinforces
an organizations operational success and
enhances its competitiveness. The program
consists of project workshops conducted in
a team environment with activities such as
developing job descriptions and competency
statements and models, understanding and
conducting employee assessments, capturing
learning gaps, and preparing appropriate
development plans to eliminate the gaps
will provide the starting point for a baseline
workforce assessment and developing
Individual Development Plans (IDPs).
This workshop will reinforce the complete
competency development process and enable
participants to apply their practical skills to
manage competency-based recruitment, build
competency-based training plans, and carry
out competency assessments.
Learning is accomplished through lectures by

IHRDCs exceptional faculty, group discussion
of timely business case studies, and team
participation in a challenging workshop in
which participant teams are asked to develop
and manage the organization and growth of the
international affiliate of the NOC of the West
African Republic over a 20-year simulated
time frame. Teams select from a portfolio
of opportunities at the outset and, as time
progresses and more opportunities become
available, they will decide whether to retain, sell,
or expand existing businesses, invest in new
business opportunities or bring in partners. At
the same time they will respond to a number of
events that could impact their portfolio.
change management WORKSHOP

(5 days)
STRATEGIC PLANNING AND
Senior Management Leadership
IMPLEMENTATION (3 days)
mentoring engagement
In this workshop participants learn how

to assess, plan, and implement large-scale
business changes. Working with the latest
change management principles, a systematic
framework, and tools for effective change,
participants develop both an overall strategic
plan and a sample tactical change plan that
is easy to understand by all stakeholders. In
addition to these practical tools, participants
will learn how to coach leaders through a
change and how to support leaders in their role
throughout the transformation.
This workshop consists of a training and

consultation engagement for a senior
management team that will enhance their
leadership skills, cause them to successfully
surmount their immediate challenges,
and strengthen their capacity to lead their
organizations far into the future.
This workshop is ideal for executives and

managers, as well as their advisors commercial,
legal, financial, regulatory, project managers,
sustainability specialists who wish to become
active in the management of enterprises.
Effective Business
This program is ideal for those seeking to

enhance their knowledge of strategic planning
and implementation. Participants will benefit
from best practices utilized in the oil and gas
industry today. The learning format consists
of lectures, group discussions, and practical
demonstrations and assignments that enhance
the learning and allow participants to apply
these practices immediately upon returning to
their organizations. The program will examine
the most current approaches to strategic
planning and implementation such as setting
vision and goals, effective implementation
strategies, and utilizing a Balanced Scorecard.
Major trends in the international oil and gas
industry will also be discussed.
Note: For our two-week public Advanced Petroleum

Management Program please refer to page 10.
Petroleum Enterprise
Management Workshop:
Effective Negotiating Skills
Growing the International
Workshop (2 days)
Affiliate of a NOC (5 days)
With an Advanced Petroleum Business

Simulation
This popular workshop focuses on the startup
and accelerated growth of a new company
as it seeks to develop an integrated business
by investing in oil and gas projects in Latin
America and Africa. Emphasis is placed
on maximizing the performance of the
enterprise by carefully selecting a portfolio
of investments along the oil and gas value
chain. Some of the important topics discussed
include world and energy industry trends;
strategic planning, project and corporate
financial performance, portfolio analysis,
characterizing investment opportunities,
leadership, building a strong management
team and a competent workforce, sustainable
development and the management of the
organizations health, safety, environmental,
and social obligations, and responding to
challenges commercial, financial, HR, legal,
political, regulatory, operational, and force
majeure that petroleum corporations often
face with little notice.
This esteemed program provides participants

with a practical understanding of the highly
regarded negotiation process developed at
Harvard University outlined in the book Getting
to Yes. Participants will leave this program with
a full understanding of the best practices
of negotiating, whether they are used to
negotiating a major business agreement or to
settle a misunderstanding with a colleague. In
the workshop setting teams of participants will
negotiate positions in a realistic oil and gas case
study to demonstrate and internalize the process.
Communications Workshop
(4 days)
This highly experiential workshop is designed

to help participants become more polished,
confident, and effective in their written and
oral communication. In terms of presentations,
participants will learn to represent themselves
more effectively in todays highly competitive
business climate. By delivering presentations,
they will receive coaching in the practical
tools necessary to create dynamic, professional
presentations, organizing their content for
maximum impact, interacting effectively with
visual aids and creating a stronger connection
with the audience so people will retain their
message. In terms of writing, participants
will learn to get important points across
quickly by examining how best to target
readers, select and organize information, use
clear language, and be strategic in how to fix
common errors and achieve a stronger business
tone. The innovative writing techniques and
practical tools can be applied to job-related
memos, email, letters, proposals, and reports.
In summary, this business communication
workshop will provide participants with
easy-to-apply tools and strategies that they can
implement immediately, resulting in stronger,
more polished, and more effective business
communication.
LEADERSHIP SKILLS FOR HIGH

PERFORMANCE ORGANIZATIONS
(3 days)
This practical workshop will explore the

leadership skills needed for high performance
organizations and provide participants with
the most effective management tools. It will
provide an understanding of the key aspects
of individual and team leadership along with
an examination of effective managerial styles,
organizational climate, goal setting, action
planning, and leading change methodology.
The program carefully combines presentations
by a seasoned industry expert, engaging
simulations, group discussions, case studies,
as well as group work and assessments.
The four specific activities are:

Preliminary Communications to identify the
scope of the teams activities, key organizational
measures, logistical planning, and distribution
of 360 assessments; Individual Interviews with
team members prior to the group meetings
to gain background on strategic objectives
and corporate culture (1-3 days); Leadership
Sessions in which team members meet with the
instructor, as a group, to reach consensus and
alignment on an Action Plan that will stimulate
leadership and promote enhanced performance
(2 days); and Monitoring Sessions which take
place one, three, and six months afterwards
on-site or through teleconferences to monitor
progress and recommend strategies to achieve
enhanced performance and fulfillment of the
Action Plan.
31
The course was highly interactive and educational the exercises

and lecturers made the learning process very enjoyable.
2014 Participant
Practical Instructional Format
Experience Superb Learning

with IHRDC-Invincible Energy
For 30 years, IHRDC-Invincible Energy faculty has equipped traders,
managers, consultants, and other players in the energy industry
with the knowledge to understand and manage traded markets
worldwide. IHRDC-Invincible Energy offers effective training on the
commercial aspects of the oil industry.
More than 5,000 delegates have attested to the combined quality of the instructors and the learning
format: a carefully designed, practical workshop form of learning that incorporates a finely crafted
balance of role plays, exercises, lectures, and discussions using real-time oil, gas, and electricity prices
and markets to illustrate and enhance the learning of concepts and practices.
Timely Topics
IHRDC-Invincible Energy courses are designed with a sound set of working competencies across
the downstream supply trading and price risk management chain. The courses cover all pertinent
aspects of marketing, supply, logistics, trading, and price risk management in the oil industry.
IHRDC-Invincible Energy also delivers private courses that can be tailored to a clients requirements,
covering relevant topics and using case studies from the companys own business.
Exceptional Locations
IHRDC-Invincible Energy offers public courses in Cambridge, U.K., Geneva, Switzerland,
Singapore, and other locations worldwide.
The Mller Centre hosts IHRDC-Invincible Energy training courses in Cambridge, U.K. Located
in Churchill College at the University of Cambridge, it is an ideal venue and provides delegates
a unique experience by being a part of the collegial community of the historic University of
Cambridge. The cultural and historic Cambridge city centre is within walking distance of the Mller
Centre and is easily accessible by road, rail, and air. Delegates can experience punting down
the River Cam, walking tours around the city, perusal of the art galleries, taking a College tour,
enjoying a play at the theatre, or visiting Cambridges many distinctive shops.
Build an Enduring Network

By participating in an IHRDC-Invincible Energy course, you will have the unique opportunity to
meet colleagues from around the world, learn from their experiences in the industry, and create
lasting relationships.
32
33
FU LL PRO GRA M DATE S:
cambridge, U.K.: April 20 24 , 2015
10
W HO SHOULD ATTEND
This course will benefit those new to the oil

industry or moving into the commercial area
from the upstream or downstream sectors.
The program is also of interest to those who
interface with the commercial aspects of
the oil industry such as banks, accountancy
practices, and other organizations.
INS T R UCTORS
Michael Jarvis, Dip C Eng

Howard Skipp, BA, M Eng
Phil Snaith, MBA
october 5 9, 2015
cambridge, U.K.: april 27 May 1, 2015
october 12 16, 2015
Economics of the
Oil Supply Chain
Trading Oil on
International Markets
During this five-day program, delegates explore the various activities of an oil company and
the economic forces driving the oil supply chain. They will also learn the main areas of risk and
opportunity from the crude oil supply terminal, through transportation, refining, and international
trading to the refined product distribution terminal.
This five-day program provides delegates with a comprehensive understanding of the economics
of trading and the management of inherent price risks. Delegates will learn how to negotiate
and cost deals, calculate profitability, charter a ship through a broker, and examine the legal
and operational aspects of trading. They will also gain the skills to identify and manage risk by
using futures, forwards, and over-the-counter markets.
Through exercises carried out in teams in Invincibles fictional refinery, delegates learn the quality
aspects of product supply, refinery process economics, and the effects of upgrading. They
will examine blending as a means to meet quality requirements at optimal cost and construct
a processing deal. Additionally, the program provides an overview of international markets,
trading, and different methods of price risk management.
This program is an essential foundation for people entering the oil industry or for those with
single-function experience looking to broaden their knowledge. It also forms the basic building
block for the other Invincible courses. Numerous exercises are carried out in teams, with
comprehensive debriefs studying the consequences of the decisions reached.
oil fundamentals
oil products
Oil price history

World supply and demand
Structure of world markets
Price formation and reporting
Refined product quality and specifications

Value of quality
Downstream marketing
transportation
crude oil
Types of crude oil

Evaluation of crude oils
Crude oil markets
Crude oil pricing
Oil tankers
Freight and Worldscale
Chartering a ship
Pipelines
markets and trading
oil refining
Distillation and reforming

Treating and conversion
Cracking
Refinery economics and optimization
Blending
Refinery margins
International oil trading

Mechanics of trading
Contracts for sale and purchase
Costs of trading
processing
Processing deals
logistics
price risk management
Scheduling oil supplies

Stocks and storage
Losses
Inland distribution
Identifying exposure
Futures
Swaps
Basic hedging techniques
During the practical exercises, delegates work as part of a trading team and make decisions
using real-time information and prices from Reuters trading screens and daily price reports from
Platts and Petroleum Argus to manage and maximize the profit of a fictional trading book.
Invincibles corporate position will be marked to market and reviewed on a daily basis, with
comprehensive debriefs studying the consequences of the decisions made.
LE CT UR E S E S S IO N S
introductory material
chartering and freight
Introduction to trading and markets

Price reporting
Pricing mechanisms
Calculating freight costs using Worldscale

Chartering a ship
Calculating demurrage
Freight exposure and swaps
crude oil trading
International pricing of crude oils

Crude oil trading
Brent / BFOE market
performance and credit
products trading
risk and exposure
Mechanics of trading products

Oil brokering
Costings
Comparing alternative outlets
Arbitrage trading
Valuing product quality
Identifying and minimizing risks in trading

Price exposure
Separation of price and supply
contracts and trading
Negotiating a deal
Writing a contract
Calculating the profitability of deals
Spread trading
Contango and backwardation
Exchange for physical (EFP)
Legal issues
Client /counterpart risk

Documentation
11
WH O SH OULD ATTEND
This course will benefit those coming into

trading from elsewhere in the industry; those
in supply and marketing functions looking
for a wider understanding of the market;
those in oil companies, banks, law firms,
accountancy practices, the media, and
elsewhere who interface with traders and
trading; and those moving into oil markets
from the financial markets or elsewhere.
INSTRUCTORS
Sally Clubley, BSc (Eng)

risk management instruments
Futures markets
Forward markets
Swaps and OTC markets
Introduction to options
Comparison of instruments
risk management techniques
Hedging with futures and swaps

Basis risk
Refinery margin management
Technical analysis
tendering
Preparing and evaluating a tender
trading controls
Managing a corporate position and mark to market
IHRDC-Invincible Energys Howard Skipp assists with a

workshop session at the Mller Center in Cambridge, U.K.
34
learn more or register for programs at www . invincible - energy . com
35
12
W HO SHOULD ATTEND
This course is beneficial to those new to oil

operating procedures or those with a need
to understand the importance of operations
on trading profitability. This includes backand middle-office personnel such as finance,
banking, shipping, and others supporting
the front-office. Additionally, those managing
trading functions wishing to eliminate profit
leakage will also benefit from participating
in this course.
singapore: may 20 22, 2015

geneva: september 21 23, 2015
geneva: june 1 3, 2015

singapore: october 26 28, 2015
Oil Operations and Logistics
International Oil Trading

and Price Risk Management
This course provides delegates with a comprehensive picture of the importance of operations
in the international trading of crude oil and refined products. Delegates will learn the role of
operations in the downstream supply chain and how to make the most cost-effective decisions in
areas under their control. Exercises, using real-time data available at Thomson Reuters facilities,
will demonstrate the effect that prices and freight rates have on decisions and how profit
leakage can be understood and controlled. Delegates will benefit from comprehensive debriefs
and discussions of the decisions made throughout the course.
This three-day course examines trading economics in depth. Delegates will learn how to
negotiate and cost deals, calculate profitability, charter a ship through a broker, and examine
the legal and operational aspects of trading. They will also gain the skills to identify and
manage risk by using futures, forwards, and over-the-counter markets.
By participating in this course, delegates will understand stock management, oil blending,
the importance of quality considerations, the interaction between operators and traders,
and operational factors that have an effect on profitability. They will learn the impact of
price exposure and price risk management on traders decisions and the knock-on effects for
operations, as well as the essential areas of documentation and legal issues surrounding trading.
Delegates will also gain the skills to use Worldscale to charter a ship.
background fundamentals
Introduction to the oil supply chain

Understanding physical markets
Price reporting
Product distribution

Documentation
Credit assessment
risk , exposure , and their management
INS T R UCTORS

quantity and quality measurements
Crude oil considerations

Refined product considerations
Blending activities
Importance of inspectors
Risks in trading activities

Basics of price exposure
Concept of hedging
Risk management tools
contracts
stocks and storage
Need for storage

Stock management
Problem areas
operating procedures
Importance of operations in trading

Role of the operator versus trader
Trading costs
Impact of operations on trading profit
Interpretation of contracts
Legal issues
Delegates will make decisions as part of a crude oil and refined product trading team,
maximizing profits through an understanding of the economics of trading and the management
of the inherent price risks.They will manage their trading book and make decisions using realtime crude oil and refined product markets worldwide from Reuters trading screens and daily
price reports from Platts and Petroleum Argus. Invincibles corporate position will be marked
to market and reviewed daily, with comprehensive debriefs studying the consequences of the
decisions made.
LE CT UR E S E S S IO N S
introductory material
chartering and freight
Introduction to trading and markets

Price reporting
Pricing mechanisms
Calculating freight costs using Worldscale

Chartering a ship
Calculate demurrage
Freight exposure and swaps
access to real - time prices
International pricing of crude oils

Crude oil trading
Brent / BFOE market
products trading
risk and exposure
Mechanics of trading products

Oil broking
Costings
Comparing alternative outlets
Arbitrage trading
Valuing product quality
Identifying and minimizing risks in trading

Price exposure
Separation of price and supply
contracts and trading
Negotiating a deal
Writing a contract
Calculate the profitability of deals
Spread trading
Legal issues
shipping and chartering
Tankers and chartering

Freight costs and Worldscale
Documentation requirements
Impact of demurrage
Losses
36
WH O SH OULD ATTEND
This course will benefit anyone coming into

trading from elsewhere in the industry; those
in supply and marketing functions looking
for a wider understanding of the market;
those in oil companies, banks, law firms,
accountancy practices, the media, and
elsewhere who interface with traders and
trading. Those moving into oil markets from
the financial markets, or elsewhere, will also
find this course beneficial.
crude oil trading
control mechanisms
Controls and authorities

Deal conclusion procedures
13

Documentation
INSTRUCTORS
Daniel Carr, BSc (Geology)

Phil Snaith, MBA
risk management instruments
Futures markets
Forward markets
Introduction to options
Hedging with futures and swaps

Basis risk
Refinery margin management
tendering
Prepare and evaluate a tender
trading controls
Mark to market
37
cambridge, U.K.: june 8 12, 2015
14
W HO SHOULD ATTEND
This program is beneficial to those with

an understanding of physical markets
who wish to learn more about derivatives
and hedging; those who interface with
risk management from elsewhere in the
industry; and those from banks, accountancy
practices, law firms, and elsewhere.
INS T R UCTORS
Daniel Carr, BSc (Geology)

november 9 13, 2015
Price Risk Management in

the Oil Industry
During this five-day program, delegates build a sound understanding of the markets, gain
practical experience in selecting and using a variety of risk management instruments, and learn
strategies for their use in hedging and price management. The course will also cover the value
of optionality, management control, and risk measures through numerous exercises.
As part of a trading team, delegates identify and manage the price risks of their trading book.
They will trade the full range of derivative markets, most of them in real-time, using prevailing
market prices from Reuters, Platts, and Petroleum Argus. The teams will trade options using a
proprietary simulated trading program. As market conditions change over time, delegates will
compare the performance of different instruments and learn to choose the appropriate one
to meet their objectives, taking into consideration the associated costs and risks. A technical
analysis of the markets is carried out through the program, including comprehensive debriefs to
examine the consequences of the decisions made.
risk identification
Identifying risks in a corporate position

Quantifying exposure
Liquidity and basis risk
Hedging with futures, swaps, and forwards

Hedging with options
Spread trading
Basis risk
Structured instruments
Comparing hedging strategies
Hedging in practice
risk management instruments and markets
Futures markets
Forward markets
BFOE and dated Brent markets
CFDs / DFLs
Role of the market maker
price management
Exchange for physical

Trigger pricing
Charting theory
Mathematical indicators
options
trading controls
Exchange and OTC options

Options strategies
Option pricing and the Greeks
Tailored swaps and embedded options
Using option pricing software
Trading volatility
Clearing and exchanges

Marking to market
Value at Risk
Management control
optionality
Identifying and valuing optionality

in the oil markets
2015 Instructor Biographies

DR. DAVID A. T. DONOHUE
PROGRAM DIRECTOR
Dr. David A. T. Donohue is

the Founder and President of
both IHRDC and Arlington
Storage Corporation. Dr.
Donohue is a technical
specialist, businessman, attorney, and lecturer
who is highly regarded for the teaching
of management programs devoted to the
business of oil and gas. He has successfully
designed and taught these business game
programs to more than 10,000 members
of the international oil and gas industry on
both in-house and public bases. He was
the developer of an innovative video-based
learning system for the upstream petroleum
industry, which has now been converted to
IPIMS, a widely licensed e-Learning system.
Dr. Donohue is also the developer and owner
of independent underground gas storage
facilities in New York State. In his early career
he held various positions in engineering and
research for Exxon and, for four years, served
on the faculty of Pennsylvania State University.
Dr. Donohue holds a Ph.D. in Petroleum and
Natural Gas Engineering from Pennsylvania
State University and a J.D. from Boston
College Law School. He is active in public
affairs in his hometown, a Distinguished
Member of the SPE, and Alumni Fellow of
Pennsylvania State University.
D r . E rhan A slan
MEG ANNESLEY
Dr. Erhan Aslan is a Learning

Simulator Specialist and
Program Facilitator at IHRDC.
Dr. Aslan began his career
in Abu Dhabi as a reservoir
engineer at Kelkar and Associates and was
involved in multiple projects on reservoir
development and characterization for fields
in the Middle East and Russia. In 2006, he
relocated to Tulsa, Oklahoma for his M.S.
in Upscaling of Tight Gas Reservoirs within
the Petroleum and Natural Gas Engineering
department at the University of Tulsa. He
then attended Pennsylvania State University,
graduating in August 2013 with a Ph.D. in
Petroleum and Natural Gas Engineering. His
thesis was entitled Development of an Advanced
Coalbed Methane (CBM) Numerical Reservoir
Simulator. During his studies at Penn State and
the University of Tulsa, he taught classes on
Drilling Fluids, Production Engineering, Well
Testing and Evaluation, Numerical Reservoir
Simulations, and Rock and Fluid Properties
for graduate and undergraduate students. He
received the Outstanding Graduate Assistant
Award from Penn State in April 2013. Currently,
he is working on the development of Interactive
Learning Simulators at IHRDC. His areas of
interest include reservoir characterization,
development of numerical reservoir simulators,
unconventional gas reservoirs, parallel
programming, and static and dynamic reservoir
simulation modeling.
Meg Annesley, former

President of Tricentrol Oil
Trading in London and
Houston, has most recently
acted as an independent
trading advisor and consultant, concentrating
on the international oil trading markets
for crude oil and petroleum products,
hedging and risk management strategies,
and trading in domestic markets. Her
extensive oil industry experience includes
eight years with BP in international supply
and trading. Ms. Annesley is a Fellow of the
Institute of Petroleum, former Director of the
International Petroleum Exchange of London,
and until recently, Secretary of the Association
of U.K. Oil Independents, and an initiating
member of the U.K. Government Ministers
Downstream Oil Forum.
Best instructor ever! One of the most dynamic speakers I have

heard. He is extremely knowledgeable and loves this business-and I left the course feeling the same way!
2012 Participant
38
DR. CHARLES BRANKMAN
Dr. Charles Brankman,

Director of Instructional
Programs with IHRDC,
is a professional geologist
and project developer who
has been actively involved in a range of
activities in the energy business, including
E&P, engineering geologic consulting for
the gas transmission and power generation
sectors, and CO2 enhanced oil recovery. After
receiving a B.S. in geological engineering from
Princeton University, Dr. Brankman earned
an M.S. in structural geology from Stanford
University. During his studies, he spent time
at Mobil Oil Company in exploration and
reservoir characterization. After Stanford,
he worked in northern California as an
engineering geologist on projects related to
the siting of gas pipelines and power plants.
He then pursued a Ph.D. in structural geology
and earth resources at Harvard University,
during which he taught several undergraduate
courses and received several teaching awards.
After receiving his degree from Harvard,
he cofounded and served as Vice President
of Geosciences at C12 Energy, a company
focused on CO2 oil recovery projects using
anthropogenic CO2.
39
continued
DANIEL CARR
SALLY CLUBLEY
DR. Y. SERDAR DOGULU
BRADFORD R. DONOHUE, CFA
MARSHALL E. FRANK
SAMY H. IBRAHIM
Daniel Carr is managing partner of Daniel

Carr Associates, an independent consultancy
specializing in physical oil trading, derivatives
markets, financial control, and understanding new
regulations. He is also an instructor for IHRDCInvincible Energy Ltd. in the downstream sector,
and a lecturer at Warwick University Business
School, where he co-designs and co-presents the
energy trading and risk management courses for
the Global Energy MBA program. From 1990 until
2003 Mr. Carr was Vice President International
Affairs, New York Mercantile Exchange, where he
directed marketing in Europe, the Middle East,
and Asia Pacific. He also managed the Exchanges
London office. In 1982 he was a trade director
on the board of the International Petroleum
Exchange (now ICE). In the early 1980s, Mr. Carr
worked in London and New York for ED & F Man
International Ltd., establishing their oil futures
and options broking business. From 1971 until
he joined ED & F Man he was an oil trader and
a director for Mabanaft Ltd. in London, trading
refined petroleum products and crude oil. In this
position he was also responsible for the P/L of
the company. Prior to this, he held positions with
Amoco Europe, Albright and Wilson Ltd., and
Shell Canada Ltd. Mr. Carr has run oil trading
and price risk management courses for national
oil companies and publicly held companies in
Asia, Africa, the Middle East, and Europe. He
received a B.S. in Geology, with honors, from
McGill University in Montreal. He is a Fellow of
the Geological Society of London and of the Energy
Institute of the United Kingdom, and a member of
the Chartered Institute of Management.
Sally Clubley is the managing

partner of Arktauros, an
energy trading and price risk
management consultant, and
is a founding member of the
Invincible Energy faculty. She has spent more
than 30 years in the energy trading and price
risk management sector and has a thorough
understanding of energy markets, both
physical and financial. Her experience is in the
practical application of price risk management
instruments and their integration into oil
trading procedures on both crude oil and
refined products. Ms. Clubley began her career
as a journalist, before joining the commodity
brokerage ED & F Man International. There
she became head of the energy brokerage group
and served on the management board. During
her time there she was also elected onto the
board of the International Petroleum Exchange.
Ms. Clubley spoke on the first-ever Invincible
Energy course in 1983 and later joined the
faculty where she has continued developing
and presenting training programs worldwide.
She has also worked on numerous projects
with major oil companies, producers, and
traders, auditing and advising on processes
and procedures, and writing trading manuals,
as well as benchmarking them against others
in their sector. A Fellow of the Institute of
Petroleum, she is the author of Trading Oil
Futures and Options, which has been in print
continuously since 1986, and teaches in the
Energy MBA program at the University of
Warwick in the U.K. Ms. Clubley graduated
from University College London with an
honors degree in Biochemical Engineering.
Dr. Y. Serdar Dogulu is

Director of Innovative
Learning Solutions at IHRDC.
He is involved in the content
and interface development
of interactive Learning Simulators and other
associated training products. Dr. Dogulu has
been very active in building and teaching
company-specific technical and project
management programs for IHRDC clients
and is the principal developer and instructor
for IHRDCs highly regarded E&P Learning
Simulators. For the Arlington Group, an
IHRDC affiliate, he was also actively involved
in technical and financial modeling studies
of underground gas storage projects. After
earning his Ph.D. in Petroleum and Natural
Gas Engineering from Pennsylvania State
University, Dr. Dogulu held a postdoctoral
researcher position with the Energy and
Geo-Environmental Engineering Department
at Penn State. His areas of interest include
numerical simulation and reservoir
management. Dr. Dogulu spent a summer
as a Research Technologist at the Chevron
Petroleum Technology Company developing
reservoir simulation and management tools,
including stream-tube simulation techniques
for modeling large oil reservoirs.
Bradford R. Donohue is Vice

President of Competency
Management for IHRDC,
which includes quality
assurance, marketing, and
project management for IHRDCs Competency
Management group. Mr. Donohue has
performed as Project Director for multiple
competency implementations around the world
and, in doing so, has transformed IHRDCs
approach to competency management setting
new standards industry-wide. Mr. Donohue
led the design and development of IHRDCs
CMS Online web-based application, now the
upstream industry-standard for competency
management online systems. In addition,
Mr. Donohue manages IHRDCs finance
group, which includes managing financial
performance, capital structure, shareholder
relationships, and the budgeting process. Mr.
Donohue has a broad management, business,
and technical background in both the private
and public sectors. In 2002 he worked
for Merrill Lynch in Strategy and Product
Development, and from 1997 to 2000 he was
a Program Manager and Mechanisms Engineer
at the U.S. Naval Research Laboratorys Naval
Center for Space Technology in Washington
D.C. Mr. Donohue has an MBA and a B.S.
in Mechanical Engineering, both from the
University of Virginia, and has earned the
Chartered Financial Analyst (CFA) certification.
Marshall E. Frank retired

from Chem Systems,
where he was President
and Managing Director,
responsible for international
consulting activities in North and South
America and Asia Pacific. During his more
than thirty years with the company, he had
technical and administrative responsibility
for a large number of multidisciplinary
projects, both single-client and multi-client
sponsored. Mr. Franks areas of expertise
include natural gas utilization and conversion,
the petrochemical industry, the refining and
petrochemical interface, and alternative fuels.
He also directed Chem Systems Financial
Practice, which provided assistance to lenders
in assessing the various risks associated with
the financing of major international energy,
petrochemical, and polymer projects. Prior to
joining Chem Systems, Mr. Frank was involved
in process evaluation, process engineering, and
the startup of many of Halcon/SDs proprietary
processes at Scientific Design Company.
Mr. Frank received a B.S. in Chemical
Engineering from Cornell University.
Samy H. Ibrahim is an
energy and utility operating
executive with extensive
experience in operations,
management, and energy
delivery services. He currently leads Woodard
& Currans Natural Gas Engineering Marketing
and Service Line, focusing on complex
projects for both new and existing natural gas
and energy facilities. Woodard & Curran is
a leading consulting engineering firm in the
Northeast U.S. Mr. Ibrahim was Vice President
of Business Development with Hess LNG
where he managed the development of LNG
import facilities in Shannon, Ireland. Previously
he served as Vice President of Operations
of NSTAR Gas, a gas distribution company
serving 300,000 residential, commercial, and
industrial customers in Massachusetts. Mr.
Ibrahim has more than 30 years of experience
in the gas utility, consulting, engineering,
and manufacturing fields. He completed
the Graduate Program of Special Studies in
Administration and Management at Harvard
University and holds B.S. and M.S. degrees
in Mechanical Engineering from Ain Shams
University, Cairo, and Northeastern University,
respectively.
An extremely knowledgeable and patient instructor, with great listening

ability and capacity to push participants to perform at the highest level.
2014 Participant
40
41
MICHAEL JARVIS
Michael Jarvis is a
knowledgeable practitioner
and consultant in the
downstream oil sector
with more than 40 years
of experience. He has a comprehensive
understanding of crude oil and products
trading, hydrocarbon price risk management
practices, international marketing of speciality
fuels, supply planning and logistics, and
refinery operations. He has worked for Shell
in both Venezuela and the U.S., and has
travelled widely in developing areas gaining
global business experience. Mr. Jarvis is the
founder of Extac Limited, a consultancy
company for oil sector activities with dealings
across the downstream spectrum. Since
2000 he has been a core team presenter with
Invincible Energy and has presented and
developed a wide range of training courses
across the world. He has also provided
advice on functional and strategic aspects
of business to major oil companies, state
organizations, and producer companies.
In addition, Mr. Jarvis works with local
government and private bodies, consulting on
service competencies for welfare provision and
reform. He studied Chemical Engineering at
the University of Surrey and has postgraduate
business training. He is a Chartered Engineer
with the Institution of Chemical Engineers
and a member of the Energy Institute.
JOHN B. (JACK) KING
John B. (Jack) King is an

expert in the developing and
marketing of natural gas,
both in pipeline natural gas
and LNG, with more than 26
years experience at Mobil and ExxonMobil
Corporations. Mr. King began his career as a
production engineer in the Gulf of Mexico. He
then progressed through a number of senior
42
continued
executive natural gas marketing positions for

both Mobil and ExxonMobil affiliates in the
United States, Indonesia, Qatar, Peru, Venezuela,
Japan, and Russia. From Indonesia and Qatar,
he participated in successful long-term LNG
sales contract negotiations with consumers in
Japan, South Korea, India, Italy, and Taiwan.
He led both Mobil Corporations efforts in the
Camisea gas project in Peru and ExxonMobils
participation in the Venezuela LNG project. As
Project Executive for the Sakhalin-I project,
he concluded a successful feasibility study to
bring pipeline natural gas from ExxonMobils
Sakhalin-I project, in Russia, to Japanese utilities
and concluded a successful long-term agreement
to bring pipeline natural gas to China from the
Sakhalin-I project. Mr. King received a B.S. in
General Engineering and Military Art from the
United States Military Academy at West Point,
and earned an MBA from Tulane University
DR. MICHAEL KRATEN
Dr. Michael Kraten has

served as the President and
co-founder of Enterprise
Management Corporation,
a strategic management
consulting firm, since 1996. He is a
management accounting consultant, educator,
and researcher who specializes in behavioral
factors impacting issues of negotiation,
entrepreneurship, and social policy. He has
served as an invited presenter at Harvard Law
School, Johns Hopkins University, Dartmouth
College, and other prestigious institutions.
He is also a member of the Accountancy
faculty at the School of Business of Providence
College. Dr. Kraten has authored the book
Business Planning and Entrepreneurship: An

Accounting Approach for the Managerial
Accounting collection of Business Expert
Press. He has also authored articles in both
the academic and practitioner literature,
including such publications as the Journal of
Digital Business, the Journal of Theoretical
Accounting Research, the CPA Journal, Family
Foundation Advisor, and PensionGovernance.
com. Dr. Kraten earned a Ph.D. in
behavioral accounting from the University
of Connecticut, an M.P.P.M. in management
from Yale University, and a B.B.A. in public
accounting from Baruch College of the City
University of New York.
DR. SHASHI KUMAR
Dr. Shashi Kumar is the

Academic Dean at the U.S.
Merchant Marine Academy
in Kings Point, and has
participated in IHRDC
instructional programs since 1994. Prior
to joining USMMA, Dr. Kumar was the
Founding Dean and Professor at the LoebSullivan School of International Business and
Logistics at Maine Maritime Academy. His
areas of teaching have included International
Business, International Logistics, International
Transportation, Managerial Economics, and
Transportation Economics and Policies. Dr.
Kumar is a licensed Master Mariner (U.K.),
and has an M.S. degree in Maritime (Business)
Management from Maine Maritime Academy
and a Ph.D. in Maritime Economics from the
University of Wales, United Kingdom.
MICHAEL LYNCH
Michael C. Lynch is President of Strategic

Energy and Economic Research and a lecturer
at Vienna University. He has combined
S.B.-S.M. degrees in Political Science from
M.I.T. and has analyzed oil markets for more
than three and a half decades. Mr. Lynch
is best known for his work in two areas:
analysis of oil and gas market forecasts and
the economics of petroleum supply. He has
demonstrated the source of errors in oil
forecasts and shortcomings in oil supply
models from the 1970s. More recently, his
analysis of peak oil modeling demonstrated
that it is based on flawed methods and
is essentially unscientific. Mr. Lynch was
Chief Energy Economist at DRI-WEFA, Inc.
a leading economic consulting firm, and
President of the United States Association for
Energy Economics. In addition, he has been a
Senior Fellow for the USAEE. His publications
have appeared in eight languages and he
serves on several editorial boards, including
the journal Energy Policy and Geopolitics of
Energy. Mr. Lynch also blogs for Forbes on
energy matters. Mr. Lynchs book on oil supply
will be published in 2014 by Praeger.
ELIZABETH MACDONALD
Elizabeth Macdonald is
the Director of Business
Communication at
Thunderbird School of
Global Management,
teaching public speaking and business report
writing workshops to both American and
international MBA students. At Thunderbird,
she has worked with corporate clients from
a wide range of companies such as Intel,
Wal-Mart, Walt Disney, Henkel, Chevron, SK,
and other multinational companies, coaching
executives and senior level managers on
improving their business communication
skills. Her background as an educator, trainer,
consultant, and program director gives
her a unique perspective in addressing the
diverse communication needs of business
professionals. For ten years, she worked
for the U.S. government as an international
trainer and Education Specialist conducting

needs assessments and program evaluations,
developing monitoring and assessment
instruments, training staff, developing
innovative teaching materials, etc. In these
programs, she collaborated with both
American staff and host-country national
staff from all over the world: from Eastern
and Central Asia, Africa, Eastern and Central
Europe, and Latin America. She has a B.A.
in French and Sociology from Bryn Mawr
College, and an M.A. in TESOL from the
Monterey Institute of International Studies.
SKIP MARYAN
Skip Maryan is a lawyer and

consultant with a practice
in International Energy. He
started his energy career
with a law firm in South
Texas in 1975. In 1979, he moved to Mobil
Oil Corporation where he held a number of
affiliate General Counsel positions over a 25year career including: General Counsel, Rocky
Mountain Division, Denver; General Counsel,
Mobil Oil Indonesia, Jakarta; General Counsel,
New Business Development, Dallas; Managing
Counsel, Mobils Major Transaction Group,
Fairfax; Chief Attorney for ExxonMobil
Development Company. He continued his
practice with the International Energy Section
of the law firm of Thompson & Knight
LLP. His experience includes negotiating,
lawyering, and documenting upstream oil and
gas projects in numerous countries on every
continent. He has taught courses in energy
law and contract subjects at Georgetown
University Law School, in CLE presentations,
and for a number of NOC and IOC clients. He
has advised corporations on legal department
organizations and best practices. Mr. Maryan
holds a law degree from St. Marys University
and a Master of Laws in taxation from
Southern Methodist University. He is currently
a member of the Texas and Colorado Bar
associations. He is a frequent speaker at CLE
and energy educational programs throughout
the world. Since 1997, Skip has served in
several capacities as an officer and director
of the Association of International Petroleum
Negotiators. In 2009 he started his own
consulting company.
ROBERT H. MEYER
Robert H. (Bob) Meyer

has a diverse background
in both the domestic and
international oil arena,
with more than 26 years
of experience in the Mobil and ExxonMobil
Corporations. Mr. Meyer began his career
as a Human Resources Executive in Mobils
upstream organization in Dallas, New Orleans,
Norway, and New York. Following global
assignments at both Mobils Corporate HQ
in New York and its worldwide R&D HQ in
Princeton, U.S., he joined Mobils Downstream
organization where he moved through
successive assignments as the Director,
Corporate Services and board member,
Mobil Oil Australia, Melbourne and Director,
Human Resources, U.S. Marketing and
Refining in Fairfax, U.S. Upon completion of
Mobils transformational global Staff Redesign
Project (SRP) he was appointed to the newly
created position VP and General Manager,
Shared Services, with global responsibility
for Security, Real Estate, Medical, and
Aircraft operations and U.S.-wide portfolio
of Human Resources, Public Relations,
Legal, Environmental Health & Safety, and
Accounting services. He returned to the
Downstream as President, Mobil Oil Latin
America, responsible for Fuels and Lubricant
sales, marketing, refining, and distribution
activities in Central and South America as well
as the Caribbean. Coincident with Exxons
purchase of Mobil, he was appointed Director,
ExxonMobil Latin America Lubricants
Company. His final assignment was Director,
Downstream Services, responsible for
managing the implementation of new Fuels,
Lubricant, Refining, and Supply processes
worldwide. Mr. Meyer received a B.S. in
General Engineering from the United States
Military Academy at West Point and earned
an M.A. in Human Resources and Business
Management from Webster College, St. Louis.
43
44
continued
CARLOS PERALTA
DR. KRIS RAMANADHAN
Carlos Peralta is Business

and Financial Modeling
Specialist with Instructional
Programs at IHRDC. Mr.
Peralta is responsible for
developing business and financial models that
reflect the lifecycle of oil and gas business
opportunities. These models are adapted into
business games, which are an integral part
of IHRDCs programs. He also facilitates and
mentors program attendees as they go through
the business simulations. Prior to joining
IHRDC, Mr. Peralta held several strategic and
financial positions in Mexico and the United
States. He began his career as a Senior Analyst
at Protego Asesores - Evercore Partners in
Mexico, where he developed innovative
financing vehicles through pension funds for
a major private university. Subsequently, Mr.
Peralta worked for the Energy Department in
Mexico as a Department Chief, developing
new practices to close the gap between Mexico
and multinational hydrocarbon companies
in profitability, environmental, and personal
safety matters. Mr. Peralta also worked for
Petroleos Mexicanos (Pemex) performing
strategic analysis of investment opportunities
and participating in the corporate restructure
of Pemex Gass subsidiaries. Mr. Peralta
holds an MBA from the Boston College
Carroll School of Management and a B.A. in
Economics from the Instituto Tecnologico
Autonomo de Mexico (ITAM).
Dr. Kris Ramanadhan joined

IHRDC as an Executive
Consultant in 2012. Prior to
that, Dr. Ramanadhan spent
40 years with ExxonMobil
Corporation in a variety of technical,
managerial, and executive assignments on
a global basis with focus on the refining
and petrochemicals sectors. Fifteen of these
years were spent in the Asia Pacific region,
specifically in China, Singapore, and Hong
Kong. He began his career as an engineer
with Exxon in its refining and petrochemicals
complex in Baytown, Texas and progressed
through technical and operational
management positions in its downstream
business. During this period he served as a
Corporate and Strategic Planning Advisor in
Houston and then returned to Baytown as
Engineering and Operations Support Manager.
In these positions Dr. Ramanadhan handled
personnel recruiting, training, profitability
maximization, technology applications, and
capital investments including the development
and execution of large complex projects. In
1990 Dr. Ramanadhan began his international
assignments serving as the Project Executive
in Singapore for three years on a major
refinery conversion project and then moved
to New Jersey, as Corporate Advisor for Exxon
International with responsibilities for Asia
Pacific, Europe, and other regions. In 1994 Dr.
Ramanadhan was appointed as Vice President
for Business Development for ExxonMobil
China Petroleum and Petrochemical Company,
Hong Kong, to develop a multi-billion
dollar, integrated refining and petrochemical
complex on a joint basis with two major
National Oil Companies. In 2006 he became
a Project Executive and was involved in a
successful petrochemical complex in Singapore.

In 2010 Dr. Ramanadhan returned to Fairfax, U.S.
as a Planning Executive for Corporate Strategy
Development in several emerging markets. Dr.
Ramanadhan received a Ph.D. in Chemical
Engineering from Purdue University, attended the
MBA program at the University of Houston, and
is a graduate of the New Leadership Program at
Thunderbird University (School of International
Business).
KEVIN ROHAN
Kevin Rohan, founder

of Real World Change
Management LLC, has more
than 25 years of Fortune
50-level experience. He has
worked with industry-leading clients, such
as Chevron, DuPont Chemicals, Caterpillar,
Georgia Pacific, and Nokia, to implement
successful large-scale organizational change
on a global scale. Mr. Rohan worked as a
Senior Manager with Accenture as a senior
member of the Human Performance Consulting
Practice, where he helped develop their
course on e-Process and served as a guest
faculty member for management development
courses. Before joining Accenture, Mr. Rohan
headed an Operations Systems Development
group for CKE Restaurants. He holds a B.S.
in Business Administration and an MBA from
the University of Phoenix. He has served
on the Project Management Curriculum
Committee at the University of California at
Irvine. Mr. Rohan is a member of the Project
Management Institute and a Founding Member
of the Association of Change Management
Professionals. His QED Award-winning
book Change Management in the Real World is
available on Apple iBooks.
ROBERT F. RYAN
DR. CAROL ANN SHARICZ
Robert F. Ryan, the former

Chief Executive Officer of
McBer and Company in
Boston, is a management
consultant who works with
corporations, public sector, and non-profit
organizations to increase individual and group
effectiveness and performance. He works with
individuals, teams, and organizations in the
areas of leadership development, team building,
organizational improvement, and strategy
implementation. Mr. Ryans clients have included
Mobil Oil Corporation, General Electric, Global
PLC, ICL, State of Florida, Rohm and Haas,
and Texas Instruments, both domestically and
internationally. He received both his B.S. and
M.S. degrees from Boston College.
Dr. Carol Ann Sharicz is

Senior Research and Teaching
Fellow, Doctoral Program,
Organizational Leadership at
Northeastern University in
Boston. Dr. Sharicz also has her own consulting
practice, specializing in leadership, team
development, coaching, and systems thinking.
Her clients span energy, high tech, federal and
state governments, health care, education,
consumer products, and financial organizations.
Her prior work experience includes serving as a
senior training instructor for Motorola, Inc. Dr.
Sharicz received her Ed.D. in Systems Thinking
from Boston University. Dr. Sharicz has many
publications to her credit, including a book by
Linkage, Inc., The Big Picture: A Systems Thinking
Story for Managers, and is a frequent presenter at
regional, national, and international conferences.
Her international experience includes assignments
in Europe, Russia, the Former Soviet Union,
Australia, India, and Japan.
JOSEPH SCHECHTMAN
Joseph Schechtman is a
national consultant, trainer,
and coach, working with
public school districts,
non-profit organizations,
businesses, and the U.S. federal government.
He is a professor at Cambridge College,
teaching in the graduate Special Education
department. He specializes in improving
leadership skills for senior management,
developing high-performance teams,
and creating safe learning and working
environments. Mr. Schechtman developed a
very successful program in working with at
risk students and challenging employees. He
has been using the Benziger Thinking Styles
Assessment with adults and youth to help them
be successful and utilize their true gifts for
more than 15 years.
HOWARD SKIPP
Howard Skipp is a core

presenter for IHRDCInvincible Energy Ltd. He
has more than 40 years of
comprehensive experience
in the international downstream oil industry.
It includes hands-on experience working at
Shell for 28 years, followed by his formation
of Bablake Services in 1997, which provides
downstream oil training and consultancy
services. He began his career at Shell as a
refinery engineer, and held a variety of oil
supply, trading, and marketing positions
in the U.K., Denmark, the Netherlands,
Malaysia, and Korea. In those roles, he lead
teams for supply and refining, international
oil trading, and the marketing of aviation fuel,
marine fuels, and lubricants. His work also
included recruitment for Shell International
and running the in-house training programs
for Shells international oil trading. In 1999
he became a founding member and core
presenter for Invincible Energy. He has
extensive experience designing and teaching
training courses for both public and

in-house programs worldwide. His
consultancy assignments have covered the
supply and trading of crude oil and refined
products, price risk management, trading
controls, shipping, refining, and marketing. Mr.
Skipp has both a B.S. and an M.S. in Chemical
Engineering from the University of Cambridge
and is a member of the Energy Institute.
JACK SLOTNICK
Jack A. Slotnick retired

in March 2011 from
ExxonMobil Corporation,
where he managed their
Downstream and Chemical,
Safety, Health, and Environmental (SHE) audit
program. During his more than 41 years of
service with ExxonMobil Mr. Slotnick held
a number of technical, operations, product
stewardship, and management positions in
various phases of operations for the company.
He held several special assignments including
development of an energy conservation and
management program as well as preparing
Mobil Oils early corporate environmental
stewardship reports. In his last position, he
managed not only the audit program, but also
facilitated over 200 SHE compliance and/
or management system audits at offshore oil
platforms, onshore drilling operations, gas
recovery plants, petroleum refineries, chemical
plants, and other supply and transportation
operations around the world. Mr. Slotnick
holds a B.S. in Chemical Engineering from
Pennsylvania State University and an MBA
from Drexel University. He is a Certified
Environmental and Safety Auditor (CPEA)
for regulatory compliance, ISO 14001, and
American Chemical Councils Responsible
Care Program. He currently sits on the Board
of Directors for the Board of Environmental
Auditor Certification (BEAC) and is a former
board member for the Environmental Auditing
Roundtable.
45
continued
P hil S naith
RICK SQUIRES
ROBERT W. TAYLOR
LAURA B. VARELA
DR. KERMITT WALROND
Mr. Snaith is a partner in

PSI Energy, which provides
consulting and training
services to the energy
industry. Prior to starting his
own business, he worked for Royal Dutch
Shell for more than 35 years. During his
career with Shell he worked in eight different
countries spanning Asia Pacific, the Americas,
and Europe. He has broad experience in
downstream oil commercial businesses via
both wholly-owned companies and joint
ventures. His roles have included President
of Shell International Eastern Trading
Company, President of HydrogenSource LLC
(a joint venture with United Technologies
to develop fuel processors for hydrogen fuel
cell power systems), and Shell Executive
Vice President for the Caribbean and Central
America. During the mid-nineties, Mr.
Snaith was Chief Representative and Director
of Shell China Ltd., where he developed
new retail, lubricants, LPG, bitumen, and
aviation ventures, a role he considers his
most challenging and rewarding experience
to date. He has functional expertise in
marketing, supply and logistics, and oil
trading. He gained leadership experience
in mature company turnarounds involving
major restructuring and strategic repositioning
for profitable growth, new venture startups
(including joint ventures in China and the
U.S.), and new technology research and
development. Mr. Snaith holds a B.S. in
Physics from Imperial College and an MBA
from Cranfield School of Management, both
in the U.K.
Rick Squires, an IHRDC

Senior Lecturer, is the
founder of PiEnergy, which
provides consulting services
to the energy industry. He
also holds three non-executive directorships
related to the energy business. He was NonExecutive Chairman of a U.K. based offshore
hybrid gas and wind power company (250
MW), which was sold to a major European
power utility. Mr. Squires has extensive
experience in the international energy sector
at the senior management level across a wide
range of activities and fuels. He also acts as a
senior consultant to an international executive
search company, focusing on the renewable
energy and new technology business sectors.
For four years, until early 2003, Mr. Squires
was based in Boston, U.S. as Senior Vice
President of InterGen, an international power
company with more than 1000 employees
and 16 GW of power plants in ten countries.
Prior to joining InterGen, Mr. Squires
headed the Power Business within Shell Gas
and Power, London and was the leader of
the team that acquired 50% of InterGen in
1997. His career in Shell spanned over 25
years and also included senior management
positions in International Oil Trading, Coal
Business Development, and Marketing. While
principally based in London, he also had
assignments with Shell companies in South
Africa and Japan. Before joining Shell, he
worked for the South Western Electricity
Board in the U.K. Mr. Squires holds a
First Class Honours Degree in Electrical
Engineering from Lanchester University and
a Masters Degree in Business Studies from
Durham University, U.K. He is a member of
the Institute of Engineering and Technology,
the Institute of Directors, and the Energy
Institute.
Robert W. Taylor is Vice

President of Global Business
Development for IHRDC and
an instructor in its Energy
Management Programs. Since
joining IHRDC in 1999, he has coordinated
worldwide sales and business opportunities in
Asia Pacific and Sub-Saharan Africa, provided
learning and competency development
advice, and ensured quality products and
services for all IHRDC clients. From 1977 to
1999, Mr. Taylor held positions of increasing
responsibility for Otis Engineering and
Halliburton Energy Services. In 1995, he
became the Halliburton Scandinavian Business
Development Manager, responsible for all of
the service offerings of Halliburton and for
proposing commercial opportunities involving
integrated services and products. Mr. Taylor
holds an M.S. in Adult and Organizational
Learning from Suffolk University and a B.S. in
Mechanical Engineering from the University
of Kentucky. Mr. Taylor holds the Certification
in Workplace Assessment Using Direct and
Indirect Methods SCQF LEVEL 8 from the
Scottish Qualifications Authority and has
completed certificate level courses from
Cornell ILR School in Advanced HR Studies.
He is a long-time member of the Society of
Petroleum Engineers, ASTD, and an author of
numerous technical and professional papers.
Laura B. Varela joined IHRDC

in 2007 to participate in the
development of e-Learning
programs and support core
processes of the corporation.
Mrs. Varela worked for 15 years at the
Venezuelan Oil Company (PDVSA). She began
her career as a field engineer and worked
directly with the NGL plants in western
Venezuela. She was a leader of a group of
professionals responsible for developing,
monitoring, and updating technology and
operational systems of measurement and
assessment of gas, along the value chain, from
production to final distribution (domestic,
industrial, and commercial). She participated
in the development of procedures for the
management of gas to obtain ISO 9000
certification and served in the corporate area
of PDVSA in the management of gas and oil.
Mrs. Varela is an Industrial Engineer with an
M.S. in Oil and Gas Production.
Dr. Kermitt Walrond is a

Management Consultant
who has served as Deputy
Chairman of the Board of
Directors of Neal & Massy
Energy Company in Trinidad and Tobago, as
Chairman of the Board of Directors of NM
Wood Group Ltd., and as Special Advisor
to the Board of Governors of the Trinidad
and Tobago Institute of Technology. He is
a member of the Advisory Council of the
Energy Centre of the University of Trinidad
and Tobago. Dr. Walrond currently provides
lecturing services in negotiation skills as well
as consulting services to IHRDC. Until 2000
he had accumulated 33 years of international
service with British Petroleum, Shell, Amoco,
and then BP. His early experience was in
engineering and operations with British
Petroleum (Trinidad) Ltd. He served five
years with Shell in their Houston Research
Laboratory before joining Amoco, where
he held progressively more senior positions
including Regional Production Manager,
Houston; Production Manager, Norway;
Manager of Engineering, Worldwide; and Vice
President, Production and Transportation,
for BPs Caspian operations in Azerbaijan and
Georgia. He has three degrees in Petroleum
Engineering - a B.S. (Honors) from the
University of Birmingham, United Kingdom,
and a M.S. and Ph.D. from Pennsylvania State
University. Dr. Walrond was a Distinguished
Lecturer for the SPE in 1988-89 and was
elected a Distinguished Member in 1991. The
Pennsylvania State University has honored
him as a Centennial Fellow, College of Earth
and Mineral Sciences (1996) and as an
Alumni Fellow (1997). In 2009 he received a
Centennial Award in the field of International
Relations from the Government of the
Republic of Trinidad and Tobago.
46
The program was insightful and

well presented. The instructors
demonstrated a wide breadth of
knowledge of all topics and materials
were comprehensive. I have had
incredible value for my time and
my expectations were definitely
exceeded. Well done!
2012 Participant
47
Enrollment Information
2015 Enrollment Form
Registration in any IHRDC program may be made by mail, telephone, fax, e-mail, or online at
www.ihrdc.com. Class size is limited, so we encourage early enrollment. IHRDC will confirm all
accepted registrations by courier, fax, or e-mail. The confirmation will include complete details
regarding course location, a visa invitation letter, hotel request form, welcome information, and
an invoice.
FEES
Who attends IHRDC programs?

More than 7,200 participants have
attended our programs
They have come from
106 countries
They represent majors,
NOCs, Ministries, service
companies, consultants, and
political leaders
They have backgrounds in technology,
finance, trading, banking, shipping,
business management, accounting, HR,
regulation, legal, and government
They are serious about the
learning opportunities and work
very hard during the program
All fees are listed in U.S. dollars. Payment

should be made by wire transfer, credit card,
or check in U.S. funds drawn on a U.S. bank.
Fees must be paid in full prior to the first day
of the program.
Fees include instruction, instructional materials,
receptions, continental breakfast and lunch
during the session days, and miscellaneous
conference expenses. Fees do not include travel,
hotel expenses, or evening meals; these are the
responsibility of the enrollee.
PAY M E NT / S U BS T I T U T I O N S /
C A NC E L L AT I O N S
The fee is due and payable to IHRDC before

the first day of the program. If an enrollee is
unable to attend the course, the enrollee or the
company may appoint a substitute at any time
without penalty. One half of the registration
fee must be paid by those registrants who
commit to attend the program and then cancel
less than 30 days before the first session. A
paid enrollment may be transferred to a future
course if the request is received before the first
day of the program.
IHRDC reserves the right to cancel any course
due to insufficient enrollments to ensure
effective sessions. The Registrar will make
this determination on or about the course
closing date. If IHRDC cancels the course, the
Registrar will refund all course fees in full.
2015 Boston Oil and Gas

Management Program Fees* (U.S.$)
one unit:
three units:
two
four
$4,750
units: $8,700
$12,500
units: $15,800
*The above fees for Boston-based Oil and Gas

Management Programs include instruction, instructional
materials, receptions, continental breakfast and lunch
during the session days, weekend bus trips, and
miscellaneous conference expenses. Fees do not include
travel, hotel expenses, or evening meals; these are the
responsibility of the enrollee. Payment should be made
by wire transfer, credit card, or check in U.S. funds
drawn on a U.S. bank. Fees must be paid in full prior to
the first day of the program.
To Enroll: Go to www.ihrdc.com or email registrar@ihrdc.com.
By mail, send to: IHRDC Management Programs,
Fax this completed form to +1.617.536.4396 or +1.617.247.6669
535 Boylston Street, Boston, MA 02116 U.S.A.

Questions? Call +1.617.536.0202
S CH ED U L E BO S T O N
Unless otherwise specified, programs run

from 8:30 am to 5:30 pm with an hour for
lunch. Some workshop sessions and lectures
may extend into the evening hours. IHRDC
provides refreshment breaks each morning
and each afternoon. When making your flight
arrangements, please take into account that
the Friday afternoon sessions end around
2:00 pm. Additionally, airports require at
least a two-hour advance check-in.
IPDM2015
q Unit Two: May 18 22
INTERNATIONAL GAS BUSINESS MANAGEMENT CERTIFICATE PROGRAM (TWO OFFERINGS)

MAY OFFERING
q Full Program: May 11 22
q Unit One: May 11 15
q Unit Two: May 18 22
q Unit One: October 12 16
q Unit Two: October 19 23
OCTOBER OFFERING
q Full Program: October 12 23

FINANCIAL MODELING AND PETROLEUM PROJECT ECONOMICS (TWO OFFERINGS)

JUNE OFFERING
q Full Program: June 1 12
q Unit One: June 1 5
q Unit Two: June 8 12
q Unit One: September 14 18
q Unit Two: September 21 25
SEPTEMBER OFFERING
For your convenience, IHRDC has reserved

guest rooms for program attendees at several
area hotels. Enrollees needing assistance with
accommodations should contact IHRDC
for bookings. Rooms are limited early
reservations are encouraged. Detailed hotel
information is provided with your enrollment
confirmation. Please be advised that Boston is
a very busy city and hotels will fill to capacity.
We encourage you to return the hotel request
form as soon as you can.
Enrollment Code:

INTERNATIONAL PETROLEUM BUSINESS PROGRAM
q Full Program: May 11 22
q Unit One: May 11 15
q Full Program: September 14 25
H O T EL RES ERVAT I O N S B O S T O N
Enrollment Code
PLEASE ENROLL ME IN THE FOLLOWING 2015 PROGRAM(S):
ADVANCED PETROLEUM MANAGEMENT PROGRAM: ENTERPRISE-WIDE LEADERSHIP IN TIMES OF CHANGE

INTERNATIONAL LNG BUSINESS MANAGEMENT CERTIFICATE PROGRAM

ESSENTIAL SKILLS FOR OIL AND GAS PROFESSIONALS

INTERNATIONAL PETROLEUM MANAGEMENT CERTIFICATE PROGRAM

q Full Program: September 14 October 9 q Unit One: September 14 18

q Unit Three: September 28 October 2
q Unit Two: September 21 25

q Unit Four: October 5 9
HR PROCESSES, COMPETENCY DEVELOPMENT, AND CHANGE MANAGEMENT PROGRAM

q Full Program: September 28 October 9
q Unit One: September 28 October 2
q Unit Two: October 5 9
INTERNATIONAL PETROLEUM LAW WORKSHOP

q Full Program: October 19 23
CONTACT INFORMATION (Please type or print clearly.)

Name

Title/Position

Company
PAYMENT METHOD
q Fee Enclosed
q Please Invoice
Send to the attention of:
q Mastercard
q American Express
Address
City/State
Country

Card Number
q Visa
q Discover
Exp. Date

Signature of Cardholder
Telephone
Fax
48

E-mail
49
2015 Enrollment Form/Information

To Enroll: Go to www.invincible-energy.com or email
By mail, send to: IHRDC-Invincible Energy
invincible@ihrdc.com. Fax this completed form to +44 (0) 1420.22863
Westport House, Bentley, Farnham, Surrey, GU10 5HY, U.K.

Questions? Call +44 (0) 1420.22862
PLEASE ENROLL ME IN THE FOLLOWING 2015 PROGRAM(S):
CAMBRIDGE, U.K.
*VAT charges only where applicable
ECONOMICS OF THE OIL SUPPLY CHAIN
q April 20 24
q October 5 9
3,300 +VAT*
TRADING OIL ON INTERNATIONAL MARKETS
q April 27 May 1
q October 12 16
3,800 +VAT*
PRICE RISK MANAGEMENT IN THE OIL INDUSTRY
q June 8 12
q November 9 13
3,800 +VAT*
GENEVA
FEES
IHRDC-Invincible fees are listed in Pounds Sterling

or U.S. Dollars. Payment should be made by bank
transfer, credit card, or upon arrival. Fees must be
paid in full prior to attendance. Fees do not include
travel or hotel expenses, these are the responsibility
of the enrollee. Fees include instruction, instruction
materials, receptions, coffee breaks, and lunch
during session days. For five-day Cambridge
programs, fees also include a tour of historic
Cambridge and a course dinner at one of the old
Cambridge Colleges.
INTERNATIONAL OIL TRADING AND PRICE RISK MANAGEMENT
q June 1 3 2,600
PAYMEN T / S U BS T I T U T I O N S /
CA N CEL L AT I O N S
OIL OPERATIONS AND LOGISTICS
q September 21 23 2,600

SINGAPORE
OIL OPERATIONS AND LOGISTICS
q May 20 22 US $3,500
INTERNATIONAL OIL TRADING AND PRICE RISK MANAGEMENT
q October 26 28 US $3,500
If, for any reason, you are unable to attend the

course, please notify IHRDC-Invincible as soon
as possible. A refund of the registration fee
less 25% administration charge will be made
provided that notice is received in writing at least
28 days before the date of the course. No refunds
will be made after that date. Substitution of an
alternate nominee from the same company for
the course is permitted without charge.
H O T EL RES ERVAT I O N S
For your convenience IHRDC-Invincible Energy

has reserved a number of guest rooms at the
Mller Centre for their Cambridge, U.K. training
courses. Rooms are limited, early reservations are
encouraged. Enrollees requiring accommodation
should contact invincible@ihrdc.com for further
information.

Title/Position

Company
Address
Country

Telephone Fax

E-mail
PAYMENT METHOD
50
Our e-Learning and Knowledge Solutions provide your employees with innovative learning resources that offer accelerated,
low cost, effective, and on-demand learning devoted to all functional areas of the international oil and gas industry.

IPIMS 800 courses in all areas of Upstream Technology
Petroleum Online 18 courses encompassing the complete oil and gas value chain
Operations & Maintenance 340 courses devoted to O&M, covering plant operations and maintenance
Business Essentials 69 MBA-level courses
Our Competency Management offers you industry-leading competency and compliance products and services that lead
to a fully competent workforce.

Competency Management Service Competency models, assessments, individual development plans
CMS Online The industrys leading competency reporting and compliance system
Library of Competency Models Best-in-class resources guarantee successful outcomes
Our Instructional Programs offer you outstanding programs that teach management and petroleum business essentials
Boston Public Offerings Nine outstanding oil and gas management certificate programs offered annually
International Workshops Bali, Dar es Salaam, London, Nairobi
Private In-House Programs We design and deliver in-house programs that meet clients specific needs
IHRDC-Invincible Energy Courses Effective training in the commercial aspects of the oil industry
45
FOR
YEARS
S CH ED U L E
City/State
q Fee Enclosed
IHRDC was founded in 1969 with a commitment to offer international oil and gas companies excellent products and
services to train and develop their workforce. In the four decades since then from both our Boston headquarters and
our offices in Houston, London, Amsterdam, Abu Dhabi, Kuala Lumpur, Jakarta, and Lagos we have set a worldwide
standard of excellence through our Instructional Programs, e-Learning and Knowledge Solutions, and Competency
Management. Our offerings are used daily by thousands of industry leaders.
For more information please visit www.ihrdc.com.
using challenging business games.
CONTACT INFORMATION (Please type or print clearly.)

Name
About IHRDC
q Please Invoice Send to the attention of:
Upon registration you will receive full joining

instructions including course times. Unless
otherwise specified, registration begins at 8:15
on the first morning, with an hour for lunch.
Some workshop sessions and lectures may
extend into the evening hours.
IHRDC-Invincible Energy provides refreshment
breaks each morning and each afternoon.
When making your flight arrangements, please
take into account that most Friday afternoon
sessions end at approximately 12:30 pm.
To learn more about how IHRDC can help you

build a world-class workforce please visit www.ihrdc.com.
51
IHRDC Instructional Programs Client List
IHRDC-Invincible Energy Client List
This is a sampling of our full client roster, which includes more than 500 companies that have sent employees to our Instructional Programs.
Representative sample of the IHRDC-Invincible Energy
Abu Dhabi National Energy Company (TAQA)

Addax Petroleum Development Ltd.
ADCO
ADNOC
Afren
Agip
Al-Khafji Joint Operations (KJO)
American Petroleum Institute
Anadarko
Andes Petroleum Ecuador Ltd.
Angola LNG
Atlantic LNG Co. of Trinidad & Tobago
AUREP
Baker Hughes Inc.
Belize Natural Energy
BG Group
BP
Brass LNG
Brega Co.
Cairn Energy India Pty Ltd.
Calidda S.A. Gas Natural
Central Bank of Kenya
Centurion Petroleum
Chevron
CMH, Mozambique
CNOOC SES Ltd.
ConocoPhillips
Cuu Long JOC
Deloitte West & Central Africa
Department of Mineral Resources, Thailand
Department of Mining and Petroleum,
Papua New Guinea
Department of Petroleum Resources, Nigeria
Dolphin Energy
Dragon Oil
Ecopetrol
El Paso Oleo e Gas do Brazil Ltd.
Elf Petroleum Nigeria Ltd.
Energy and Mineral Resources Division, Bangladesh
Energy and Water Utilities Regulatory Authority,
Tanzania
Energy Regulation Board, Zambia
Energy Regulatory Commission, Kenya
Eni E&P
EPA, New Zealand
Equion Energia Ltd.
ETAP
ExxonMobil
Gambia National Petroleum Company
Gas Authority of India (GAIL)
Gas TransBoliviano
Gazprom
Ghana National Petroleum Corporation (GNPC)
Halliburton
Hess
Husky Energy Inc.
Hyundai Oil Refinery
INA-Naftaplin Croatia
INPEX Corporation
Integrated Data Services Ltd.
52
Japan Oil Gas and Metals National Corporation

Joint Oil Tunisia
Kaduna Refining and Petrochemicals Co. Ltd.
Kuwait Energy Company
Kuwait Foreign Petroleum Exploration Co.
Kuwait National Petroleum Company
Kuwait Oil Company (KOC)
Liberia Petroleum Refining Co.
Libya Investment Authority
Luanda Refinery
Malaysia LNG Companies
Mansarovar Energy Colombia Ltd.
Mari Petroleum Company
Meta Petroleum Corp.
Methanex
Ministry of Energy and Minerals, Tanzania
Ministry of Energy, Trinidad & Tobago
Ministry of Energy, Kenya
Ministry of Finance, Uganda
Ministry of Finance, Ghana
Ministry of Mines, Industry and Energy,
Equatorial Guinea
Ministry of Oil & Mineral Resources, Yemen
Ministry of Oil, Iraq
Ministry of Petroleum, Angola
Ministry of Petroleum and Natural Resources, Pakistan
Ministry of Petroleum Resources, Nigeria
Mitsubishi Development Company
Mitsui Oil Exploration Co. Ltd.
Mobil Oil Indonesia
Mobil Producing Nigeria
MOL Hungarian Oil & Gas Co.
NAMCOR (Namibia)
National Gas Company of Trinidad & Tobago Ltd.
National Oil Company of Liberia
National Oil Corporation, Kenya
National Oilwell Varco
National Planning Commission, Nigeria
Niger Delta Exploration & Production PLC
Nigeria LNG Ltd.
Nigerian Agip Oil Company Ltd.
Nigerian Electricity Regulatory Commission (NERC)
Nigerian National Petroleum Corporation (NNPC)
Oando Gas & Power Ltd.
Oil and Gas Development Corporation, Pakistan
Oil and Natural Gas Commission, India
Oil India Limited (OIL)
Oilworld Limited
OKLNG
Oman Power and Water Procurement Company
OMV AG
Ophir Energy
OSINERGMIN
Pacific Rubiales Energy
Pakistan Petroleum Ltd.
PanAfrican Energy Tanzania Ltd.
Pan American Energy LLC
Pan Ocean Oil Corporation
Partex Services Portugal
PDVSA
PEMEX
PERTAMINA
Petro Santander Colombia
Petrobangla
Petrobras
Petroleum Commission, Ghana
PERUPETRO
PETRONAS
Petroleum Authority of Thailand
Petroleum Products Pricing Regulatory Agency (PPPRA)
PetroSA
Petrotrin
PetroVietnam
PetroVietnam Exploration and Production Corporation (PVEP)
Polish Oil and Gas
PlusPetrol
Premier Oil
PT Medco
PTT Exploration and Production Co., Ltd.
Qatar Petroleum
Qatargas Operating Company Ltd.
RasGas Co. Ltd.
Repsol YPF
Rohl-Aufsuchungs (RAG)
Sahara Energy Field
Salamander Energy
Saudi Aramco
Santos Ltd.
Shell
Singapore Petroleum Company
Sino Saudi Gas Limited
SK Innovation
SKT Migas
SOCAR
Societe Nationale des Hydrocarbures, Cameroon
Sonagas
Sonangol
Sonatrach
Staatsolie
Star Energy
Statoil
Talisman Energy Inc.
Tanzanian Petroleum Development Corporation (TPDC)
Thrace Basin Natural Gas Turkiye Corporation
Timor Gap, E.P.
TNK BP
Total Austral S.A.
Transportadora Associada de Gs (TAG)
Turkish Petroleum Corporation (TPAO)
Tullow
U.S. Department of Energy
Uganda Revenue Authority
VICO Indonesia
Vietnam Petroleum Institute (VPI)
Volta River Authority, Ghana
West African Gas Pipeline Company
Western Australia Petroleum Pty. Ltd.
Wintershall Energia S.A.
Woodside Energy Ltd.
World Bank
YPF S.A.
client roster, which includes more than 250 companies:

Afren
Addax Petroleum
ADNOC
Borealis
Cargill International
Chevron Indonesia
China International United Petroleum & Chemicals Co. (UNIPEC)
Dolphin Energy Ltd.
Duke Oil Company
Det Norske Oljeselskap (DNO)
Eni
Emirates National Oil Company (ENOC)
Energy Regulation Board, Zambia
Gazprom Marketing and Trading
Ghana National Petroleum Corporation (GNPC)
Ghana Oil (GOIL)
Glencore
Grupa LOTOS
HGM Energy
Karachaganak Petroleum Operating (KPO)
Kuwait Petroleum Corporation (KPC)
Litasco SA
Maersk Oil
Mercuria Energy Group
Ministry of Energy, Uganda
Ministry of Oil and Gas, Oman
MOL Group
National Oil Corporation, Libya
Neste Oil
Nigerian National Petroleum Corporation (NNPC)
Occidental Oil Asia
Oman Trading International
OPEC
PDVSA
Petrobras
Petroleum Products Pricing Regulatory Agency (PPPRA)
PTT
Repsol Sinopec
Rubis Eastern Caribbean
SABIC
Sahara Group
Sasol
Saudi Petroleum Overseas
Shell International Eastern
Shell West Supply and Trading
Shell Deutschland Oil GmbH
Singapore Refining Company (SRC)
SK Energy
Sonangol
TAKREER
TASWEEQ
Taleveras
TOTSA
Total E&P Nigeria
Turkish Opet Aviation Fuel (Thy Opet)
Turkish Petroleum Refineries Corporation (Tupras)
Vivo Energy
Wintershall Oil AG
YPF
Please contact us for more information:
IHRDC/ CORPORATE HEADQUARTERS
535 Boylston Street, 12th Floor Boston, MA 02116 USA

Tel: +1.617.536.0202 Fax: +1.617.536.4396
www.ihrdc.com
Email: 2015programs@ihrdc.com
boston
houston
london
amsterdam
abu dhabi
kuala lumpur
jakarta
lagos
07
I H R D C /CORPORATE HEADQUARTE R S
complete details available online:
535 Boylston Street, 12th Floor Boston, MA 02116 USA

Tel: +1.617.536.0202
Fax: +1.617.536.4396
Email: corporate@ihrdc.com
www . ihrdc . com
I H R D C -INVINCIBLE ENERGY LTD.

Westport House, Bentley, Farnham, Surrey GU10 5HY, UK
Tel: +44.(0).1420.22862
Fax: +44.(0).1420.22863
Email: invincible@ihrdc.com
connect with ihrdc
blog.IHRDC.com
IHRDC
@ I H R D C Tr a i n i n g
I H R D C / N O RT H A M E R I C A
I H R D C /M I D D L E E A S T
washington
abu dhabi
Tel: +1.571.235.0674
Email: washington@ihrdc.com
Tel: +971.2.676.2622
Email: abudhabi@ihrdc.com
Houston
I H R D C /A F R I C A
Tel: +1.617.456.3409
Email: houston@ihrdc.com
Lagos
IHRDC/EUROPE
Tel: +234.803.301.4101
Email: lagos@ihrdc.com
London
I H R D C /A S I A
Tel: +44.7980.788702
Email: london@ihrdc.com
Kuala Lumpur
Amsterdam
Tel: +31.299.373480
Email: amsterdam@ihrdc.com
Tel: +60.1.2301.8297
Email: kualalumpur@ihrdc.com
Jakarta
Tel: +62.21.537.2392
Email: jakarta@ihrdc.com
Some photos courtesy of Anadarko Petroleum Corporation, Petroleos de Venezuela, and IHRDC.

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International Human Resources Development Corporation

Innovative programs with challenging simulation games that

Attended by more than 7,200 oil and gas

David A.T. Donohue PhD, JD

01:  International Petroleum Business Program

10:  Economics of the Oil Supply Chain

11:  Trading Oil on International Markets

m ay 11 22 or october 12 23, 2015

j une 1 12 or septe m ber 14 25, 2015

04: Advanced Petroleum Management Program:

12:  Oil Operations and Logistics

03:  Financial Modeling and

02:  22nd Annual

IHRDC-Invincible Energy Programs:

The Superb IHRDC-Invincible Energy Experience

13:  International Oil Trading and Price Risk Management

14:  Price Risk Management in the Oil Industry

j une 8 1 2 or nove m ber 9 1 3 , 2 0 1 5

j une 1 12, 2015

05:  International LNG Business

j une 15 26, 2015

06:  Essential Skills for Oil and Gas Professionals

Instructional Programs Client List

septe m ber 14 october 9, 2015

08:  HR Processes, Competency Development,

septe m ber 28 october 9, 2015

09: International Petroleum Law Workshop

october 19 23, 2015

IHRDC Oil and Gas Business Workshops:

m arch 23 27 or april 13 17 or nove m ber 16 20, 2 0 1 5

Overview of the International Petroleum Business

april 20 24, 2015

Optimizing Gas Processing, Refining,

april 13 17, 2015

Petroleum Project Economics and Risk Analysis

m arch 16 20 or nove m ber 16 20, 2015

Engaging Instructional Format

The IHRDC Experience Combines

Exciting Historical and Cultural Location

Stimulating Social Events and Cultural Activities

Invaluable Networking Opportunities

International Petroleum Business Program

This program is intended for managers in the

Overview of the Energy Industry

Host Government Agreements

Planning the well; logistics; drilling functions;

Onshore and offshore field development

The content of this two-unit program is the same as the first

Gas Processing and Marketing of LPGs

Crude Oil and Natural Gas

MAY 18 22, 2015

Worldwide Petroleum Economics

Crude Oil Tanker Transportation

This business game is an integral part of the

WORKSH OP SESSIONS INCLUD E:

now have a robust knowledge of my industry.

learn more or register for programs at www . ihrdc . com

Excellent program. With what I have learned, I

MAY 11 15, 2015

U P STR E A M S E C T O R S , PROJECT ECONOMICS, AND PETROLEUM ACCOUNTING

David A. T. Donohue, PhD, JD

MAY 11 22, 2015

Introduction to the workshop

MAY 11 22, 2015

01: International Petroleum Business Program

10: Economics of the Oil Supply Chain

11: Trading Oil on International Markets

04: Advanced Petroleum Management Program:

12: Oil Operations and Logistics

03: Financial Modeling and

02: 22nd Annual

13: International Oil Trading and Price Risk Management

14: Price Risk Management in the Oil Industry

05: International LNG Business

06: Essential Skills for Oil and Gas Professionals

08: HR Processes, Competency Development,

09: International Petroleum Law Workshop