In today’s highly competitive and increasingly uncertain environment, it is now imperative for Oil & Gas companies to forecast more accurately and also more frequently. In a recent survey by the CFO Journal, over 70% of Chief Financial Officers (CFOs) stated that improving their forecasting, planning and analysis processes was their number one priority. It is clear that the old ways of doing things is not sustainable and cannot continue. This 2-day training course provides participants with a solid introduction to the principles of budgeting and forecasting and the practical application of these to real-world situations. The course also shows how to apply the principles and best practices learned to Oil & Gas budgets for companies and projects. It is designed for participants who are new to budgeting and forecasting, and those who have been in operating in this role for some time but would like to update their knowledge to the latest in financial planning and analysis practices. Lastly, the course addresses the internal issues that arise in large companies: politics, remuneration, resistance to change, organizational hierarchies, and the underlying technologies that enable the change required for effective budgeting and forecasting.

1. OIL & GAS
BUDGETING & FORECASTING
BEST PRACTICE AND MODELLING
Your Expert Course Director
Jeff Robson
Jeff Robson has over 20 years’ experience in financial modelling, forecasting, valuation, model auditing, and
management reporting for clients throughout the world. He is skilled in the development and maintenance of
analytical tools and financial models for middle-market companies to large corporates, at all levels of
complexity, in both domestic and international settings.
Here is what past learners have to say about this training course: -
“Excellent course for finance professional looking for excel tools to assist in putting a budget together” Senior Management Accountant,
INPEX Australia
“Excellent for those involved in producing reports via excel spreadsheets” Planning & Bus Support Lead, Sarawak Shell
“This course is good giving me an insight on the usage of excel on data management” Cost Analyst, Sarawak Shell
“Useful course for someone who is eager to learn how to build an effective budgeting/forecasting model” Finance Lead, Brunei Shell
“Enhancing basic skills for practical use through creation of advanced tools” Philippine National Oil Company – Exploration Corporation
Back by popular demand!
www.petroEDGEasia.net

2. Conduct this training course in-house for more effective savings!
Call us at +65 6741 9927 or email to info@asiaedge.net. For more information, visit us at www.petroedgeasia.net
In today’s highly competitive and increasingly uncertain environment, it is now imperative for Oil & Gas companies to
forecast more accurately and also more frequently. In a recent survey by the CFO Journal, over 70% of Chief Financial
Officers (CFOs) stated that improving their forecasting, planning and analysis processes was their number one priority.
It is clear that the old ways of doing things is not sustainable and cannot continue.
This 2-day training course provides participants with a solid introduction to the principles of budgeting and forecasting and
the practical application of these to real-world situations.
The course also shows how to apply the principles and best practices learned to Oil & Gas budgets for companies and
projects. It is designed for participants who are new to budgeting and forecasting, and those who have been in operating
in this role for some time but would like to update their knowledge to the latest in financial planning and analysis
practices.
Lastly, the course addresses the internal issues that arise in large companies: politics, remuneration, resistance to change,
organizational hierarchies, and the underlying technologies that enable the change required for effective budgeting and
forecasting.
The principles in this course are applicable for both upstream and down-stream businesses.
By attending this training course, you will examine and learn the following: -
 The need for change: global forces driving companies to
update their budgeting and forecasting processes
 How to allow for uncertainty
 Why distinguishing between targets and forecasts is
critical to success
 Most applicable types of budgets/ forecasts for each
area of the business
 How to improve the reliability of forecasts whilst also
decreasing the time taken to prepare these
 Alternate budget methodologies and how to determine
which methodology applies best in different situations
 How to optimize budgets & forecasts to achieve
maximum efficiency within given constraints
Key Learning Outcomes from attending this training course: -
 Understand the role of budgeting and forecasting within the enterprise.
 Learn how to integrate budgeting and forecasting and align these with your business strategy.
 Learn how to handle uncertainty within budget models.
 Learn how your organization can become more agile and produce more accurate forecasts faster.
 Understand how and when to go beyond Excel for budgeting and forecasting solutions, and understand the
enterprise-level technologies that can enable this to occur.
Key Course Take Aways:
 Provide an Introduction to Budgeting and Forecasting framework within the enterprise: how this can be used to
improve performance and gain a competitive advantage.
 Provide an understanding of the budgeting and forecasting best practices that are being used in today’s O&G
companies
 Enable managers to understand the budgets and forecasts that are prepared for them
Who Should Attend
CFO’s  Business & Financial Analyst  Finance Managers & Financial Controllers  Budgeting/Forecasting Managers
 Financial Advisors & Managers  Business unit & Departmental Managers who want to better understand
budgeting & forecasting
The typical attendee will be a manager who must direct staff working for him/her in what they should build into their
budget and forecast models, and must interact with other managers regarding the budgeting and forecasting process.
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COURSE OUTLINE
Introduction to Budgeting
 What is budgeting?
 Why do organizations make a budget?
 Steps in creating a budget
 Parts of a budget
Activities:
Group discussions & activities
The Budgeting Process
 Budgeting in large companies
 Role of the budget in corporate governance
 Sources of information
Activities:
Group discussions & activities
Budget Model Best Practices
Overview of the budgeting process and model considerations:
 Types of budget models
 Short-term & long-term models
 Upstream vs downstream models
 Model design & planning
 Best practice design guidelines
 Budgeting vs forecasting
Compare Budget Methods
Compare and contrast the different budgeting methods.
Determine which model is best suited to various applications.
 Bottom up budget models
 Model development framework
 Zero-Based Budgeting & cost drivers
 Capital expenditure budgeting
 Cash Budgeting vs P&L budgeting
 Determination of Model and Forecast scope and time
horizons
Why Budgeting needs to Change
 Organizational velocity
 Increasing uncertainty
 Gaming and politics in forecasting
 Forecasting conundrum
 Problems with traditional budgeting and forecasting
Activities:
Group discussions & activities
Separating Targets from Forecasts
 What is the difference between the two?
 Separating politics from forecasting
 How is this useful in setting budgets and forecasts?
 What should remuneration and bonuses be tied to?
Becoming more Agile
 What are rolling budgets & forecasts?
 How can these actually be done regularly without requiring
vast organizational resources?
 How can these achieve the dual aims of faster & more reliable
forecasts?
 Using multiple forecasting processes
KPIs
 What are they really?
 Get out of your office!
 How are they relevant to budgeting and forecasting?
 How can they improve forecast reliability and speed?
Case Study: Identifying Cost & Revenue Drivers
Use of KPIs to analyze past performance and predict future.
Attendees will examine a company’s accounts to identify the cost
and revenue drivers that will be used in building the forecast.
Sensitivity & Scenario Analysis
Learn how to sensitize inputs to allow for uncertainty, and learn
how to incorporate sophisticated scenario analysis into budget
models to provide flexibility.
 Performing Sensitivity Analysis
 Overview of Sensitivity Analysis
 Techniques to incorporate multiple “What-if" scenarios in
models
 Break-even analysis
Activity: Sensitivity & Scenario Analysis
Attendees will participate in a hands-on exercise in how to build
multiple scenarios and sensitivity analysis on key inputs into a
forecast models then analyze the results.
Optimizing Budget Models
Learn how to optimize results and achieve maximum efficiency
within constraints.
Activity: Model Optimization
Attendees work through a practical example of using Excel’s tools
and functions to optimize models within various constraints.
Enterprise Budgeting Solutions
Many smaller organizations use Excel but find this is insufficient
when they grow.
What are the limitations of Excel? How can these be overcome
and what should you be looking for in an enterprise-wide
budgeting/ forecasting solution.
Demonstration of the budgeting and forecasting process using an
enterprise solution, illustrating aspects such as workflow, cost &
revenue drivers, what-if scenarios, versioning, top-down &
bottom-up forecasting, and the use of different budget
approaches for different areas of the organization.
Sessions commence at 9am on all days, with short intervals at 10.30am and 3.30pm respectively with light refreshment.
Lunch will be provided at 12:30pm for 1 hour. Sessions will end at 5pm on all days.
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To stay on top, Oil & Gas companies must constantly re-examine the budgeting and forecasting models they use in their
decision making processes to ensure they are up-to-date and incorporate the latest in budgeting and forecasting best
practices.
Is there an opportunity to take advantage of the lower price of Oil? Where can technology costs be optimised? How does
a drop of 40% in oil price affect profit? To support all these decisions, sound budgeting and forecasting is essential.
This 3-day training course provides participants with an understanding of both the principles of budgeting and forecasting
and the practical application of these to real-world situations, with a strong emphasis on how to achieve this using Excel.
The course applies the principles and practices to build sophisticated budgets and forecasts that are robust, flexible and
user-friendly for Oil & Gas companies.
This course covers budgeting and forecasting for both upstream and down-stream businesses.
By attending this training course, you will examine and learn the following: -
 Ways to improve efficiencies in the budgeting and
forecasting processes by gaining valuable skills in
advanced Excel functions
 How to allow for uncertainty and model different
business scenarios
 How to apply a sound methodology that will allow
complex Budget and Forecast models that are flexible,
robust and user-friendly
 Advanced ways of analyzing data to determine trends
and using these to forecast future performance
 How to utilize external data to enhance the accuracy of
forecasts
 Alternate budget methodologies and how to determine
which methodology applies best in different situations
 Ways to use the advanced features of Excel to optimize
models and achieve maximum efficiency within
constraints
Key Learning Outcomes from attending this training course: -
 Discover new techniques to improve the usability and reliability of your budgets and forecasts.
 Learn how to integrate budgeting and forecasting and align these with your business strategy.
 Create forecasts that properly incorporate imprecise data and allow for uncertainties.
 Gain the confidence that comes from knowing that your budgets and forecasts are robust, accurate, and reliable.
 Understand how and when to go beyond Excel for budgeting and forecasting solutions.
Key Course Take Aways:
- CD full of practical templates, exercises & solutions, reference guides, add-ins plus other tools that can be used to
efficiently build effective and robust budgets and forecasts.
- Experience in designing solutions to real-world challenges and incorporating current economic uncertainties
Who Should Attend
CFO’s  Business & Financial Analyst  Finance Managers & Financial Controllers  Budgeting/Forecasting Managers 
Financial Advisors & Managers  Business unit & Departmental Managers who want to better understand budgeting &
forecasting
Sessions commence at 9am on all days, with short intervals at 10.30am and 3.30pm respectively with light refreshment.
Lunch will be provided at 12:30pm for 1 hour. Sessions will end at 5pm on all days.
OIL & GAS BUDGETING AND FORECASTING MODELLING SEPARATELY
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COURSE OUTLINE
Advanced Excel Workshop
To enable participants to build reliable, robust, user-friendly
budget models attendees need to have a solid understanding of
the advanced features of Excel that enable this.
As such, the first day is focused on refreshing and extending
participants’ knowledge of the most useful Excel functions used in
building budgets and forecasts.
Areas covered include:
 Efficient ways to work with large data sets
 Data extraction and manipulation
 Aggregation functions
 Functions for automated lookup and reference
 Date handling and calculation
 Advanced formatting and charting techniques
 Forecasting functions
Introduction to Budgeting
 What is budgeting?
 Why do organisations make a budget?
 Steps in creating a budget
 Parts of a budget
Activities:
Group discussions & activities
The Budgeting Process
 Budgeting in large companies
 Budgeting in small/medium companies
 Role of the budget in corporate governance
 Sources of information
Activities:
Group discussions & activities
Building the Budget
 Where to start?
 Key accounting concepts
 Forecasting revenue
 Types of costs
Activities:
 Building a revenue forecast
 Building an expense forecast
 Assessing a budget
 Comparing scenarios
Budget Model Best Practices
Overview of the budgeting process and model considerations:
 Types of budget models
 Short-term & long-term models
 Upstream vs downstream models
 Model design & planning
 Best practice design guidelines
 Budgeting vs forecasting
Activity 1: Identify Improvements
Attendees will work as a group to apply the knowledge learned to
identify improvements to an existing model.
Compare Budget Methods
Compare and contrast the different budgeting methods.
Determine which model is best suited to various applications.
 Bottom up budget models
 Model development framework
 Zero-Based Budgeting & cost drivers
 Rolling (dynamic) Budgets
 Building flexibility into time series analysis
 Capital expenditure budgeting
 Cash Budgeting
 Determination of Model and Forecast scope and time
horizons
Case Study: Identifying Cost & Revenue Drivers
Attendees will examine a company’s accounts to identify the cost
and revenue drivers that will be used in building the budget.
Activity 3: Building the Model
As attendees progress through the course, they will build a
complete budget model. In this activity, attendees build time
series and cost driver functionality.
Analyzing Historical Data
Learn advanced ways of analyzing historical data and using this to
identify trends and forecast future performance.
 Extracting historical data from financial systems & using this to
forecast results
 Recognizing patterns in financial data
 Using Exploratory Data Analysis tools in Excel
 Using Excel’s tools to estimate future performance: regression
analysis, trend analysis, future period prediction
 Techniques to allow for seasonality
Activity 4: Building the Model
Attendees extend their budget models to analyze historical data
and develop predictions of future performance.
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Ensuring Integrity
Learn how to ensure the model’s integrity is maintained such that
any imbalances are detected quickly.
 Designing the model to incorporate integrity checks and
balances
 Effective and efficient methods to ensure model integrity is
maintained
Activity 5: Building the Model
Attendees extend their budget models to incorporate checks and
balances, then present a summarized budget. Learn how to
sensitize inputs to allow for uncertainty, and learn how to
incorporate sophisticated scenario analysis into budget models to
provide flexibility.
 Performing Sensitivity Analysis
 Overview of Sensitivity Analysis
 Techniques to incorporate multiple “What-if" scenarios in
models
 Break-even analysis
Activity 6: Building the Model
Attendees extend their budget models to allow for multiple
scenarios and sensitivity analysis on key inputs.
Optimizing Budget Models
Learn how to use the advanced features of Excel to optimize
results and achieve maximum efficiency within constraints.
 Different functions and techniques available to optimize
models
Activity 7: Model Optimization
Attendees work through a practical example of using Excel’s tools
and functions to optimize models within various constraints.
Model Automation
Discover a range of techniques to improve the usability of budget
models:
 Building automation into models to provide a user-friendly
interface and simplify model operation
Activity 8: Incorporating Automation
Attendees will build user-friendly controls into their budget
models to improve usability.
Enterprise Budgeting Solutions
When Excel isn’t sufficient, you may need to consider Enterprise
Budgeting Solutions.
Compare & contrast the advantages of Enterprise budgeting and
forecasting solutions.
Demonstration of these.
Your Expert Faculty
JEFF ROBSON
Masters (Applied Finance & Investment), B.Comm (Accounting & Information Systems), CISA, FAIM, F Fin, Microsoft
Certified Excel Expert
Jeff Robson has over 20 years’ experience in financial modelling, forecasting, valuation, model auditing, and
management reporting for clients throughout the world. He is skilled in the development and maintenance of
analytical tools and financial models for middle-market companies to large corporates, at all levels of complexity, in both domestic
and international settings.
He has trained delegates from a wide variety of oil & gas companies including Chevron, Woodside, BHP Billiton, Petronas, Carigali,
Shell, Nippon, Eni, Pertamina, Inpex, and many more. He provides training in financial modelling for companies throughout the Asia,
Oceania, Middle East and African regions. Before his current role, Jeff spent 6 years working in the Corporate and IT Consulting
divisions of a large, multi- national Chartered Accounting firm.
Jeff is the author of a number of white papers on financial modelling on subjects such as Financial Modelling Best Practices and
Financial Model Auditing.
Highlights from his oil and gas experience include:
 Development of economic models to assist Decision Analysts modelling for a wide range of scenarios for multinational oil & gas
assets.
 Auditing and further development of life of project models for Chevron’s Strategic Planning Division analysing their North West
Shelf assets.
 Development of business plan and budgeting models for multinational oil & gas assets.
 Development of cash flow and taxation models for a variety of oil gas companies.
 Consulting on Sarbanes Oxley spreadsheet remediation and risk assessment.
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petroEDGE® delivers energy industry skills-based training courses in major cities around Asia, catering for every stage of your
organisation’s development path. Since our inception, we have provided wide range of management development training, business
strategy and technical skills training courses to over 100 leading international corporations and government establishments.
Our growing client profile:
Almansoori Wireline Services (Thailand) Maersk Drilling PT Perusahaan Gas Negara
Arabian Bridge Company for Oil Services Maersk Oil Qatar PT PLN (Persero) Kantor Pusat
Asetanian Marine Pte Malakoff Corporation Berhad PTT Exploration & Production
Bangladesh Oil, Gas & Mineral Corp Malaysia LNG PTTEP International Limited
Bergen Group ASA Malaysia Marine & Heavy Engineering PTTEP Iran Company Limited
BG Exploration and Production India Malaysia-Thailand Joint Authority PTTEP Oman Company
BJ Services Company Middle East Media Chinese International PVD Offshore Services Co.
BP Exploration & Operating Vietnam Mid-Continent Equipment Group Pte Ranhill Engineers & Constructors
BP Exploration Operating Company MISC Berhad Rhodia Asia Pacific Pte
BP Indonesia / Singapore & Vietnam Mitsui Oil Exploration Co. Repsol
Brunei LNG MMS (Insurance Brokers) Royal Norwegian Embassy
Brunei Petroleum Murphy Oil Corporation Sabah Shell Petroleum Co
Brunei Shell Petroleum Co National Healthcare Group Sapura Energy
Cairn Energy India Pty Nations Petroleum (SE Asia) Sapuracrest Petroleum Berhad
Carigali Hess Operating Co. Newfield Peninsula Malaysia Inc. Sarawak Shell Berhad
Carigali PTTEPI Operating Company Nipon Oil Exploration (Malaysia) Saudi Arabian Oil Company
CGG Veritas (M) Oceaneering International Saudi Basic Industries Corp
Charnavon Petroleum Offshore Geo-Surveys Schlumberger Oilffield (S) Pte
Chevron Asia South Optimal Chemicals (M) Scomi Oiltools
Chevron Thailand E & P Optimal Olefins (M) Shell Eastern Petroleum
CNOOC PC Vietnam Shell MDS (Malaysia)
Cuulong Joint Operating Company PCPP Operating Company Shell Saudi
Det Norske Veritas (DNV) As Pearl Energy (Nam Conson) Sime Darby Plantation Sdn Bhd
Det Norske Veritas Pte PERMATA Singapore Petroleum Co.
Dof Subsea Australia Pty Permata - PMTSB SN Aboitiz Power
DPS Bristol (M) Pertamina Learning Center S-Oil Corporation
Esso Malaysia Berhad PetroEnergy Resources Corp. Talisman Malaysia
ExxonMobil E & P Malaysia Inc. Petrofac Malaysia Limited Tately N.V.
First Gas Power Corporation Petroleum Insitute of Thailand Technip Geoproduction (M)
Genting Oil & Gas Petroleum Well Logging Co. Teknik Janakuasa
Geomechanics International Petrolux Temasek Holdings Pte
Greatwall Drilling Company PETRONAS Holdings Tenaga Nasional Berhad
Halliburton Energy Services, Inc. PETRONAS Carigali Thang Long JOC
Hercules Tanjung Asia PETRONAS Carigali Vietnam Limited TL Offshore
Hess (Thailand) Limited Petronas Dagangan Berhad Total (China) Investment Co. .
Hoang Long Hoan Vu JOC PETRONAS Gas TOTAL E&P Indonesia
Intisari Oildfield Service PETRONAS Methanol (Labuan) Trans Thai Malaysia
Intra Oil & Services Bhd PETRONAS Penapisan (Melaka) Transwater API
Japan Vietnam Petroleum Compan Petrousaha Engineering Services Tri-M Technologies (S)
Kavin Engineering & Svcs Pte Petrovietnam Drilling & Well Services Truong Son JOC
Kebabangan Petroleum Operating Co. Powertium Marine UMW Standard Drilling
KUFPEC Regional Ventures (Indonesia) Premier Oil Indonesia University New South Wales
Lam Son JOC PT Halliburton Indonesia Vastalux
Lion Rig Builder Pte PT Medco E&P Indonesia Vinyl Chloride (Malaysia)
Lundin Malaysia B.V. PT Pertamina (Persero) Head Office YTL Power International Berhad

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CANCELLATIONS & SUBSTITUTIONS
You may substitute delegates at any time. For
cancellations received in writing more than seven (7) days
prior to the training course, delegates will receive a 100%
credit on the amount paid which can be used in another
Asia Edge Pte. Ltd. training course for up to one year from
the date of issuance. The credit is transferable to other
persons in the same company and applicable against any
future Asia Edge Pte. Ltd. public course. For cancellations
received seven (7) days or less prior to an event
(including day 7), no credit will be issued. In addition, a
cancellation fee equivalent to 15% of the course fee will
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a future Asia Edge Pte. Ltd. course. This credit will be
available for up to one year from the date of issuance,
and it is transferable to other persons in the same
company and applicable against any future Asia Edge Pte.
Ltd. public course. Asia Edge Pte. Ltd. does not provide
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OIL & GAS BUDGETING AND FORECASTING BEST PRACTICES & MODELLING
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