CEAMS in Brief

The Beginning, Who, What, Why and Where Are We Now of CEAMS and Energy Asset Management

• Upon completion of the skills analysis a CAPLA Five Year Education Plan was developed.  The plan was presented to the CAPLA Board of Directors and Advisory Council in May, 2004. They recommended that a committee be formed to explore the various options to implement the plan. In September 2004, the CAPLA Education Initiative Committee, recommended the plan be expanded to address Energy Asset Management education and a separate organization be formed for implementation.

• In October 2004, a Steering Committee was struck to manage the process of establishing the new organization.  It was determined there would be two phases. Phase I, funded by CAPLA, was the development of a high level strategic plan. CAPLA also provided the initial funding for Phase 2, which included the development of governance structures, bylaws, a detailed business plan and corporate fund raising. CEAMS was formally established in the Fall of 2005.

• After an extensive search for an education partner the Institution Selection Committee of the CEAMS Board selected SAIT Polytechnic as the Institution best suited and most qualified to develop and deliver the envisioned EAM program.

• Our Vision is to be recognized for the creation and advocacy of Energy Asset Management as a profession.

• Our Mission is to promote Energy Asset Management education programs and careers for the energy sector.

• EAM is made up of the following disciplines - Land (surface, contract and mineral), Joint Ventures, Production Accounting, Operations Accounting, and Well/Facilities Asset Management

• EAM is a new way of working. It removes the silos in which each of the above disciplines has operated historically and integrates them into an operating team where the role of each discipline is understood by the other members/disciplines in the team and information of common interest is shared; dramatically reducing duplication of effort, costly errors and chances of being in non-compliance.

• Additionally, as Baby Boomers retire it is becoming increasingly difficult to find people with similar qualifications to replace them.  Add to this labour crunch the huge knowledge gap created by the downsizing of the oil and gas industry in the late 80’s and early 90’s, a fact further compounded by the lack of formal post secondary education programs for the business or non-technical areas of the industry.

• Above, under “What is Energy Asset Management?” you saw “meeting regulatory, compliance, contractual and financial obligations”.  With the advent of significant changes in the royalty regime, as well as regulatory and financial compliance, the demand for well-educated people who are job-ready with practical experience and a clear understanding of the inter-relationship between all the disciplines, will be significant over the next 10 - 15 years, in both industry and government.