A six-day course will highlight key industry trends and future potential, writes Manal Ismail.
Being in a region rich in oil and gas reserves makes the UAE an ideal location for students aspiring to work in the industry. However, for many this field is still relatively new.
Although many colleges and universities offer majors in engineering, courses specific to the needs of the petroleum industry remain limited.
To familiarise students with the needs of the field as well as expand the knowledge of professionals in the industry, the Thunderbird School of Global Management, in partnership with the Centre for Management and Professional Development (CMPD) of the University of Dubai, is bringing a six-day Advanced Management Programme (AMP) for Oil and Gas for the first time to the Middle East. The programme will take place from May 10 to 15.
Why Dubai?
To many, this question seems rhetorical as Dubai and the UAE continue to flourish as the hub of education and technology, and its critical position in terms of the petroleum industry is unquestioned.
"The Middle East region has clearly ascended to a dominant position in the oil and gas business because of two very significant advantages – namely access to reserves and access to capital," said Usha Kaul Saraf, manager of CMPD.
"Within the region, many Middle East companies have become partners of choice in overseas projects such as the collaborative ventures with Indian business groups to set up refining and chemical plants. This outward orientation would be yet another significant development that some would have considered unlikely even a decade ago."
Benefits of the programme
AMP is a rigorous programme that uses current oil and gas industry trends to examine how management strategies and styles have changed as companies and workforces become more global and diverse.
"With this programme, participants will gain knowledge of and deep understanding of the oil and gas industry characteristics, strategies and specific issues," Saraf said.
"They will be able to assess the overall industry and complete a competitive analysis; judge when to enter new markets while understanding the phenomenon of ‘globalisation' of the oil and gas industry; create strategic value through innovation as well as enhance their leadership skills."
According to experts, participants will also gain a greater understanding and grasp of financial data, from assessing the company's financial statements and analysing the company's cash flows to exploring complex capital budgeting and experiencing how project financing can help the organisation.
Get set
So if you're ready to take that step towards a career in the oil and gas industry, be prepared. Not only will these future leaders of the industry need the book smarts — they will need the street smarts too, especially in this global village we live in.
"Apart from building the requisite technical and engineering skills that the industry demands, students who seek to make a career in this industry must focus on a set of business skills," Saraf said. "They must gain exposure to the nuances of cross-cultural understanding and communications."
Saraf stressed the importance of being able to communicate cross-culturally – emphasising that it is a primary skill sought by corporations in all fields.
"Prospective employees in the industry must gain insights into managing a multi-cultural workforce both in their own countries and elsewhere," Saraf said. "In essence, they must consider a transformation of their own mindset from a region focus to a global focus because the industry has become quite global in every sense of the term."
What should universities do?
Saraf said that in addition to providing a world-class education in technical areas such as petroleum engineering, geology, law, and finance, colleges and universities must provide students with experience and coursework designed to broaden their perspectives to meaningfully operate in a global setting.
"This industry, of necessity, operates in a very wide geographic, political and cultural setting," Saraf said. "Those who will prove to be the best long-term leaders will develop a set of personal skills that allow them to operate comfortably in such a robust yet complex setting."
- For more information and to register visit the University of Dubai website at www.ud.ac.ae.
By Manal Ismail