International Petroleum Business Program

Boston, U.S May 15 – 26, 2023

Program Overview
For more than twenty years, participants have consistently called this The BEST management program in the petroleum industry
today! The two-week program provides learning in four key areas and includes compelling lectures by a strong and diverse faculty,
as well as team participation in IHRDC's unique and challenging oil and gas business games.

Who Should Attend

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.

Lectures in Unit 1

Upstream Petroleum Business

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.

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.
2

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.

Lectures in Unit 2

Downstream Petroleum Business

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

Refining: capacity evolution; technological changes; capital and operating costs; profitability; netback 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.

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.

Petroleum 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.

Business Simulations

For more information or to enroll please contact us today: [email protected]

3

Business Simulation
International Petroleum Business Game: Sandland
This “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 are to develop oil and gas reserves
and then decide 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.

Workshop Sessions Include:

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

For more information or to enroll please contact us today: [email protected]

4

Instructors
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.

Dr. Charles Brankman

Dr. Charles Brankman 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.

Dr. Y. Serdar Dogulu

Dr. Y. Serdar Dogulu is Vice President 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 IHRDC’s 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.

For more information or to enroll please contact us today: [email protected]

5

Marshall E. Frank
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. Frank’s
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/SD’s proprietary processes at Scientific Design Company. Mr. Frank received a B.S. in
Chemical Engineering from Cornell University.

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 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 Corporation’s efforts in the Camisea gas
project in Peru and ExxonMobil’s 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
ExxonMobil’s 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. 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 Loeb-Sullivan 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.

For more information or to enroll please contact us today: [email protected]

6

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. Lynch’s book on oil
supply, The “Peak Oil” Scare and the Coming Oil Flood, will be published in 2016 by Praeger.

Dr. Kris Ramanadhan

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).

For more information or to enroll please contact us today: [email protected]

7

Phil Snaith
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.

Robert W. Taylor
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
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.

For more information or to enroll please contact us today: [email protected]

 8

For more information or to enroll please contact us today: [email protected]

TO REGISTER FOR THIS COURSE PLEASE CONTACT

Anne Barton
Program Operations Coordinator/Registrar
Email: [email protected]

Enrollment Code: XXXX333

Please use the Enrollment Code above when enrolling.

BOSTON
Email: [email protected]

HOUSTON
Email: [email protected]

LONDON
Email: [email protected]

AMSTERDAM
Email: [email protected]

LAGOS
Email: [email protected]

ABU DHABI
Email: [email protected]

KUALA LUMPUR
Email: [email protected]

IHRDC/CORPORATE HEADQUARTERS
535 Boylston Street, 12th Floor Boston, MA 02116 USA Tel: +1.617.536.0202 Email: [email protected]
WWW.IHRDC.COM

Powered by TCPDF (www.tcpdf.org)