Oil & Gas Project Finance (In-House)

IFF - International Faculty of Finance
Training overview
Corporate / Group Training
3 days
From 2,999 GBP

Start dates
2,999 GBP
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Course description

Oil & Gas Project Finance (In-House)

  • Use a qualitative risk template applied by lenders
  • Appreciate the different risk/reward objectives of sponsors and lenders
  • Use ratios and other tools used to determine loan values and balance equity and debt
  • Mange the project financing challenges in the separate branches of the industry, in particular:
    • Upstream field development – single assets and borrowing bases
    • Offshore Infrastructure – FPSOs and FSRUs
    • Oil and gas transportation pipelines
    • Liquefied Natural Gas (LNG) liquefaction and regasification
    • Storage - terminals and underground facilities
    • Refineries – greenfield and upgrades • Petrochemical plants
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Training content

Introduction to Oil and Gas

  • Structure of the oil and gas industry upstream /midstream/downstream
  • Reserves and how hydrocarbons are formed
  • Reserves estimation and modelling
  • The oil and gas value chain
  • Introduction to upstream financing (including upstream infrastructure), pipeline financing, LNG financing, refinery financing and petrochemical financing

What is Project Finance?

  • Definition – The financing of long-term infrastructure, industrial projects and public services based upon a non-recourse or limited recourse financial structure where project debt and equity used to finance the project are paid back from the cashflow generated by the project
  • Origins of project finance
  • Why project finance is used
  • Market review – sectors, geography and trends
  • Defaults and loss given defaults
  • Project finance vs. corporate finance – pros and cons

Upstream Oil and Gas Financing

  • From Titusville to shale gas – the history of the oil and gas industry
  • Exploration and production
  • Single Field Financing
  • The Borrowing Base Facility

Qualitative Risk Analysis and Mitigation

  • Sponsor Risk
  • Construction completion and technology risk and liquidated damages
  • Input risk (raw materials supply / reserves etc.)
  • Output risk (merchant / contracted / demand / offtake etc.)
  • Security
  • Operation and maintenance
  • Country risk and regulation
  • Environmental risk
  • Insurance and force majeure provisions

Quantitative Risk Analysis

  • Building the cashflow model
  • Key inputs
  • Establishing the debt capacity of a project
  • Key measurement tools (ADSCR, LLCR and PLCR etc.)
  • The Repayment Schedule (straight line, sculpted and annuity profiles)
  • Sensitivity analysis • Key financing risks (interest, inflation and foreign exchange) • Interest rate and exchange rate hedging

Floating Production Storage and Offloading Units (FPSOs)

  • What is an FPSO?
  • Construction and operation
  • Bareboat Charter Agreements
  • Quiet enjoyment
  • The future for FPSOs

Liquefied Natural Gas (LNG)

  • What is LNG?
  • History of the LNG Industry
  • The LNG “chain”
  • LNG supply and demand drivers
  • The changing LNG market – the trend to shorter contracts
  • Quiet enjoyment


  • The refining process
  • Refining capacity
  • Crude characteristics
  • The Nelson Index
  • Refining margins

The Project Finance Process

  • Key participants
  • The role of advisors
  • Financial advisors
  • Technical advisors
  • Insurance advisors
  • Legal counsel
  • The financing feasibility study
  • Debt structuring
  • Arranging, underwriting and syndication
  • Ongoing monitoring

Project Financing Documentation

  • The term sheet
  • Key provisions
    • purpose
    • fees and margins
    • repayment
    • representations and warranties
    • covenants and undertakings
    • conditions precedent
    • security
    • cashflow waterfall
    • events of default

Environmental and Social Awareness

  • The equator principles – origins and purpose
  • Recent developments
  • Banks “obligations”
  • Project classification under the equator principles
  • Environment and social impact awareness


  • Online course fee: £2399 + VAT where applicable
  • London course fee: £2999 + VAT @ 20% = £3598.80

About IFF

International Faculty of Finance - IFF Finance & IFE Energy - Specialist Training Courses

As one of the world's leading specialist financial training organisations, The International Faculty of Finance, provides participants in the global financial markets with intensive technical training programmes designed to help them succeed on the global stage.  Established in 1991 we...

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