AIM 101
Oil and Gas Asset Management– Risk Management
COURSE SCHEDULE
| Code | Date | Location | price (€)* |
|---|---|---|---|
| AIM 101 | 24-28 Aug 2026 | Online | 3300 |
| AIM 101 | 7-11 Sep 2026 | London | 4400 |
* Prices are subject to VAT and local terms. Ph.D. students, groups (≥ 3 persons) and early bird registrants (8 weeks in advance) are entitled to a DISCOUNT!
COURSE OVERVIEW
The oil and gas industry is well known as a high risk industry in every respect – for the people working in the industry, for operational assets; where oil and gas equipment may fail due to poor design, incorrect materials selection, operational upsets, changing process fluids characteristics over time, etc., project risks in terms of financial exposure and geopolitical influences. These risks extend across the entire spectrum of the industry – from exploration and production (E&P), processing and refining, hydrocarbon transport to de-commissioning.
As with all process industries, it is an imperative to ensure that Safety is the absolute key focus on all activities.
In an effort to mitigate risks against valued oil and gas assets, all risks must be robustly assessed to identify the severity and in many cases the location and extent of the risks. These risks consist of, amongst others, technical, economic, environmental, health and safety, geopolitical, legal and contractual, acting individually, a combination of several, or all of them. In order to assess the level of risks a robust risk management process is followed which helps to identify all credible threats and hazards leading to the necessary mitigation actions.
This training course will present all delegates with a detailed and comprehensive learning experience through case studies, interactive discussions, videos and workshops on a number of the key elements of oil and gas asset management; namely:
o Understanding asset failure – mechanisms, cause and effect
o The notion of ‘Asset Integrity and Integrity Management
o The ‘Risk based’ approach to controlling and managing risk
o The Process Safety Management (PSM) Framework
o Principles (theoretical and practical) of Strategic Asset Management
COURSE OUTLINE
5 days
Day 1:Introduction to Asset Management
o The Meaning and Importance of Asset Management – The holistic approach to AM
o Introduction to and review of ‘ISO 5500 Standard – Asset Management’
o Value
o Alignment
o Leadership
o Assurance
o Definition and scope of asset management
o Physical vs. digital assets
o Asset Lifecycle Stages
o Design & acquisition
o Operation & maintenance
o Decommissioning
o Key Principles
o Value realisation
o Risk-based decision making
o Lifecycle thinking
o Oil & Gas Assets: Types and Criticality
o Typical assets in oil & gas:
o Wells, rigs, pipelines
o Refineries and processing plants
o Storage tanks and terminals
o Critical vs. non-critical assets
o Asset Failure – Cause and Effect
o Technical / Safety risks
o Environmental impact
o Financial losses
o Case Studies / Interactive Discussions
Day 2 : Asset Lifecycle, Risk, and Asset Integrity Management
o Introduction to Risk Management – what is risk? – risk assessments
o The notion of ‘Integrity’, ‘Integrity Management’
o Understanding risk in oil & gas operations - types of risks
o What is Asset Integrity, Asset Integrity Management?
o Risk assessment tools – RAM, Failure Modes and Effects Analysis (FMEA)
o ALARP – Definition
o Asset Lifecycle Management
o Lifecycle cost (CAPEX vs OPEX)
o Reliability, availability, maintainability (RAM concepts)
o Introduction To Maintenance Strategies
o Reactive maintenance
o Preventive maintenance
o Predictive maintenance
o Condition Monitoring
o Computerised Maintenance Management System (CMMS)
o Exercises and Interactive Discussions
Day 3: Introduction to Process Safety Management (PSM)
o What is Process Safety?
o Definition of a Major Accident & Major Accident Hazard – examples of major accidents
o Summary of process Hazards
o Process Safety Engineering & Management (PSM)
o The Energy Institute PSM Framework
o Hierarchy of control for Process Safety – Mitigation, Control, Prevention
o Introduction to Bow-Tie Analysis – Safety Critical Barrier Concepts, Ishi-kawa
o Safety Critical Elements (SCEs) – Definition
o Performance Standards (PSs) – Key Requirements – Functionality, Reliability, Availability, Sustainability, Dependency
o Introduction to Key Performance Indicators (KPIs), - Leading and Lagging Indicators
o Exercises, Interactive Discussions, Workshop
Day 4: : Introduction to Strategic Asset Management
What is Strategic Asset Management?
o Definition and scope
o Difference between
o Operational Asset Management
o Tactical Planning
o Strategic Asset Management
The Strategic Asset Management Plan (SAMP)
o What is a SAMP?
o Key components:
o Organizational Objectives & Asset Strategy Alignment - Linking corporate strategy to asset strategy
o Strategic Planning Hierarchy – strategy, policies and plans
Risk-Based Decision Making (1 hour)
o Strategic risk vs operational risk
o Decision frameworks
o Risk matrices
o Cost-benefit analysis
o Scenario planning
Performance Management & KPIs
o The importance of performance measurement
o The importance of KPIs
o Exercises, Interactive Discussions and Workshop
Day 5: Leadership, Culture, and Governance
o Role of leadership in asset management success
o Governance structures
o Building a value-driven culture
INSTRUCTOR
FAQ
DESIGNED FOR
The learning objectives of this course shall be to provide all delegates with -
o A holistic and proactive approach to asset management.
o A comprehensive understanding of how to manage physical assets safely, efficiently, and sustainably across their lifecycle.
o The principles of ISO 55000 – ‘Asset Management’.
o Understanding the principles of asset management within the oil and gas industry - how to align asset performance with organizational objectives and long-term strategy.
o Knowledge of how to integrate established risk management practices and mitigation of operational, technical, and financial risks which impact asset integrity and performance.
o Detailed insight, principles and practical application of the Process Safety Management Framework and Protocol.
o Detailed insight, principles and practical application of Strategic Asset Management – decision analyses and decision making, asset lifecycle planning, maintenance strategies, governance, capital investments; and
o Introduction to and insight into industry standards, regulatory compliance expectations.
COURSE LEVEL
Intermediate Level
LEARNING OBJECTIVES
The learning objectives of this course shall be to provide all delegates with -
o A holistic and proactive approach to asset management.
o A comprehensive understanding of how to manage physical assets safely, efficiently, and sustainably across their lifecycle.
o The principles of ISO 55000 – ‘Asset Management’.
o Understanding the principles of asset management within the oil and gas industry - how to align asset performance with organizational objectives and long-term strategy.
o Knowledge of how to integrate established risk management practices and mitigation of operational, technical, and financial risks which impact asset integrity and performance.
o Detailed insight, principles and practical application of the Process Safety Management Framework and Protocol.
o Detailed insight, principles and practical application of Strategic Asset Management – decision analyses and decision making, asset lifecycle planning, maintenance strategies, governance, capital investments; and
o Introduction to and insight into industry standards, regulatory compliance expectations.
REGISTER
Registration is now OPEN!
* Prices are subject to VAT and local terms. Ph.D. students, groups (≥ 3 persons) and early bird registrants (8 weeks in advance) are entitled to a DISCOUNT!
For more details and registration please send email to: register@petro-teach.com
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