Federation of Indian Petroleum Industry (FIPI) for the first time organized a study tour to Boston, USA in collaboration with International Human Resource Development Corporation (IHRDC) from May 6, 2019 to May 10, 2019. The study program was titled ‘Challenges and Opportunities facing today’s senior petroleum leaders’. Twenty one senior petroleum leaders from various oil & gas companies such as ONGC, GAIL India Limited, Oil India Limited, HPCL, HMEL, Indian Institute of Petroleum, Nayara Energy, ONGC Videsh Limited, Petronet LNG, Directorate General of Hydrocarbons and FIPI attended the program.
The program covered in detail all aspects of the upstream, midstream and downstream oil & gas value chain and highlighted critical areas of importance for senior leaders in the oil & gas industry. Few of the key areas that were covered over the course of five days were: Overview of the energy industry, hydrocarbon properties, upstream fundamentals – exploration methods, drilling & well completions, reservoir characterization and reserves estimation, natural gas markets and pricing mechanisms, Natural Gas Liquids & petrochemical markets, and LNG.
The program also had coverage of important business topics such as energy project economics, business contracts, annual report analysis of energy companies strategic planning, organizational design & strategy, corporate sustainability, overview of mergers and acquisitions with focus on legal project management in M&A transactions, private deals and a workshop on leadership and organizational change.
The program included visit to Massachusetts Institute of Technology (MIT) energy initiative where the group interacted with research scientists working at MIT in the field of energy. The group also visited the Schlumberger-Doll Research Center and interacted with research leaders in the upstream services sector.
At the close of the program, all participants were awarded with successful program completion certificates.