2026 Technical Oil & Gas (E&P) Workshop: From Forecast to Intelligent Budgeting: Leveraging AI to Enhance Cost Assurance, Investment Decision-Making and Performance Management in Nigeria’s Upstream Sector

Scheduled Dates

Introduction

This workshop develops practical skills in forecasting, budgeting, cost assurance, investment evaluation and performance management for Nigeria’s upstream oil and gas sector.

Oil price changes, operating costs, investment requirements and production uncertainty affect upstream budgets and financial plans. The workshop examines how forecasting and scenario analysis can help organisations assess these pressures and make more informed decisions.

AI and predictive analytics can support financial forecasts, expenditure monitoring, investment appraisal and performance assessment. Participants will examine their use alongside established financial methods, including the need to assess assumptions and interpret model outputs. This course is intended for finance, budgeting, cost assurance, commercial, investment planning, Joint Venture finance, asset management, internal audit and performance management personnel. Learning activities include Excel modelling, budgeting simulations, cost analysis, investment appraisal and group discussion.

Objectives

• Explain the strategic role of forecasting and budgeting in upstream oil and gas operations
• Apply predictive analytics and AI-enabled tools to support financial forecasts and planning
• Build forecasting and budgeting models in Excel and run scenario analysis under uncertainty
• Strengthen cost assurance through variance analysis, expenditure monitoring and cost optimisation
• Evaluate upstream investments using NPV, IRR, MIRR, payback analysis and risk techniques
• Assess model assumptions and interpret AI and model outputs with confidence
• Design performance measurement systems and KPIs that support better decisions
• Develop a practical roadmap for implementing AI in planning and performance functions

Training Methodology

This workshop is practical and hands-on. Sessions combine short expert-led presentations with Excel modelling, budgeting simulations, cost analysis exercises and investment appraisal case work built around upstream scenarios.

Participants work through realistic problems individually and in groups, using group discussion to compare approaches, test assumptions and share experience from their own organisations.

AI and predictive analytics are taught alongside established financial methods, so participants learn when to rely on model outputs and how to challenge them.

Organisational Impact

• More reliable forecasts and budgets that reflect oil price, cost and production uncertainty
• Stronger cost transparency, accountability and governance
• Better capital allocation and project prioritisation
• Earlier identification of cost overruns and performance variances
• More consistent, evidence-based decision-making across finance and planning teams
• Closer integration of forecasting, budgeting, cost assurance and performance management
• A clearer, practical path to adopting AI in planning and performance functions

Personal Impact

• Build practical skills in forecasting, budgeting and investment appraisal
• Gain confidence using Excel and AI-enabled tools for financial analysis
• Improve your ability to analyse risk and present well-supported recommendations
• Strengthen your professional profile in upstream finance and planning
• Learn to question assumptions and interpret model outputs critically
• Take away tools and templates you can use in your role immediately

Who Should Attend?

• Finance and budgeting professionals
• Cost assurance and cost control personnel
• Commercial and investment planning teams
• Joint Venture (JV) finance personnel
• Asset management professionals
• Internal audit personnel
• Performance management personnel

Certificates

Participants who attend and complete the workshop will receive a Certificate of Completion from Macbek Consults Limited, recognising their participation and the skills covered during the programme.

The certificate is issued after the final session and can be used as evidence of continuing professional development in upstream finance, budgeting, cost assurance and performance management.

Frequently Asked Questions

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