Finance and Accounting for the Oil and Gas Industry


Ref.
Sart
End
Fees
Venue
Length
FBA126
20-MAY-2018
31-MAY-2018
4700$
Dubai (UAE)
One Week

Intorduction

This programme will provide you with a solid foundation in the financial aspects of oil and gas exploration and production (E&P). It will have immediate and practical application back at your workplace since all activities have financial implications for the assets, departments and ultimately the company for which you conduct your specialist activities.  This five-day programme has been designed specifically for non-finance specialists in the oil and gas industries who need to understand the financial implications of the work they do.  You will learn how to:

  • Understand how your activities and decisions are reflected in your company’s reporting to shareholders and other stakeholders
  • Find out what happens to financial and economic data that is provided by you and your departmental colleagues
  • Raise your level of confidence in working with financial information and interactions with commercial colleagues
  • Prepare yourself for increased responsibility and a more strategic role in the management of your company

Objectives

  • appreciate the financial impact of your day-to-day decisions and actions
  • work more confidently and effectively with colleagues on financial matters
  • improve the quality of information you receive from and provide to Finance
  • increase the success rate of requests for authorisation of expenditure and make more effective use of funds allocated
  • use departmental budgets and monthly management reports to help you exercise financial control of your area of operations
  • understand the financial information disclosed in your company’s annual report and accounts
  • Learning throughout the programme will be reinforced by case studies, worked examples, and illustrative extracts from oil and gas company annual reports

Day One

The E&P Business and Project Economics

  • The Business Environment
    • Business objectives
    • Stakeholders
    • Corporate governance
  • The E&P Business
    • Risk and reward
    • Commercial arrangements
    • The field life cycle
  • Project Economics
    • Project cash flows
    • The time value of money
    • Discounting and the cost of capital
    • Project economic models
    • Decision criteria

Day Two

Accounting, Exploration and Development Costs

  • The Accounting System
    • Capturing and recording data
    • Cash and accruals
    • The balance sheet
    • The income statement and profit measurement
    • Accounting principles and standards
  • Capital and Operating Expenditure
    • Matching costs and benefits
    • Assets and expenses
  • Exploration and Appraisal Costs
    • Full cost and successful efforts
    • Intangible assets
  • Development costs
    • Commitments
    • Tangible assets

Day Three

Reserves, Production and Cost of Sales

  • Reserves of Oil & Gas
    • Classification of reserves
    • Reserve quantity disclosures
  • Production Costs
    • Lifting costs
    • Maintenance costs
    • Royalties
  • Depreciation, Depletion and Amortisation (DD&A)
    • Unit of Production (UOP) method
    • Changes in costs and reserves
  • Ceiling or Impairment Tests
    • Test requirement and process
    • Accounting for test results
  • Decommissioning, Removal and Restoration
    • Obligations to remove and restore
    • Reporting of decommissioning liabilities and costs

Day Four

Risk and Cost Sharing Arrangements

  • Joint Ventures
    • Cash calls
    • Billing statements
    • Entitlements and liftings
  • Transfers of interests or risks
    • Farm outs
    • Carried interests
  • Production sharing contracts
    • Cash flow implications
    • Reserve implications
  • Long-term gas contracts
    • Pricing mechanisms
    • Take or pay

Day Five

Financial Analysis, Budgets and Management Reports

Analysis of Financial statements

  • Profitability, liquidity and solvency
  • Investment measures
  • Budgets
    • Authorisation of expenditure
    • The budget process
  • Management reports
    • Responsibility reporting
    • Analaysis of variances

Get more details about this training !

Register Request

Choose the course date which you would like to attend your course on ...


Ref.
Sart
End
Fees
Venue
Length
FBA126
27-JAN-2019
7-FEB-2019
5700$
Istanbul (Turkey)
One Week
FBA126
18-FEB-2018
1-MAR-2018
5700$
Istanbul (Turkey)
One Week
FBA126
13-MAY-2018
24-MAY-2018
5700$
Istanbul (Turkey)
One Week
FBA126
1-JUL-2018
12-JUL-2018
5700$
Istanbul (Turkey)
One Week
FBA126
23-SEP-2018
4-OCT-2018
5700$
Istanbul (Turkey)
One Week
FBA126
4-NOV-2018
15-NOV-2018
5700$
Istanbul (Turkey)
One Week
FBA126
6-JAN-2019
17-JAN-2019
4700$
Dubai (UAE)
One Week
FBA126
25-MAR-2018
5-APR-2018
4700$
Dubai (UAE)
One Week
FBA126
22-JUL-2018
2-AUG-2018
4700$
Dubai (UAE)
One Week
FBA126
2-SEP-2018
13-SEP-2018
4700$
Dubai (UAE)
One Week
FBA126
18-NOV-2018
29-NOV-2018
4700$
Dubai (UAE)
One Week
FBA126
10-FEB-2019
21-FEB-2019
4700$
Kuala Lumpur (Malaysia)
One Week
FBA126
1-APR-2018
12-APR-2018
4700$
Kuala Lumpur (Malaysia)
One Week
FBA126
24-JUN-2018
5-JUL-2018
4700$
Kuala Lumpur (Malaysia)
One Week
FBA126
19-AUG-2018
30-AUG-2018
4700$
Kuala Lumpur (Malaysia)
One Week
FBA126
14-OCT-2018
25-OCT-2018
4700$
Kuala Lumpur (Malaysia)
One Week
FBA126
2-DEC-2018
13-DEC-2018
4700$
Kuala Lumpur (Malaysia)
One Week
FBA126
3-FEB-2019
14-FEB-2019
7500$
London (UK)
One Week
FBA126
22-APR-2018
3-MAY-2018
7500$
London (UK)
One Week
FBA126
3-JUN-2018
14-JUN-2018
7500$
London (UK)
One Week
FBA126
12-AUG-2018
23-AUG-2018
7500$
London (UK)
One Week
FBA126
7-OCT-2018
18-OCT-2018
7500$
London (UK)
One Week
FBA126
23-DEC-2018
3-JAN-2019
7500$
London (UK)
One Week
FBA126
27-JAN-2019
7-FEB-2019
6950$
Paris (France)
One Week
FBA126
18-MAR-2018
29-MAR-2018
6950$
Paris (France)
One Week
FBA126
13-MAY-2018
24-MAY-2018
6950$
Paris (France)
One Week
FBA126
1-JUL-2018
12-JUL-2018
6950$
Paris (France)
One Week
FBA126
23-SEP-2018
4-OCT-2018
6950$
Paris (France)
One Week
FBA126
4-NOV-2018
15-NOV-2018
6950$
Paris (France)
One Week
FBA126
29-APR-2018
10-MAY-2018
5700$
Istanbul (Turkey)
One Week
How Can I Register for a Training Course?

There are three easy ways to make a registeration:

  • Register Online: Choose the course you would like to register for, Click the “REGISTER” link in the course outlines and then complete the form.
  • E-mail: Send the course details (Course Title , Course Date and Course Venue) and your company details (Company Name , Company Phone , Company Address and Company email) to Training@Oxygentraining.org
  • Telephone: Please call +44 20 8720 7333.
When should I expect to receive the confirmation file?

When we receive your registration request, we will send you the following by e-mail:

  • Confirmation File
  • Invoice File
How and When do I arrange payment?

Payment must be received before the training starts. You can make payment by wire transfer or cash.

Note: If the payment is not received before the training , Oxygen has the right to cancel your registration at any time.

What is included in the fees?

The fees for all training courses cover all materials, lunch , refreshments and airport transportation.

How can I cancel my registation?

Request for training course cancellation must be made received by Oxygen three weeks prior to the training course start date. A USD 300.00 processing fee will be charge per delegate for each cancellation. Thereafter, we regret that we are unable to refund any fees due.


finance accounting oil gas industry