FCA0204 | Finance & Accounting in the Oil & Gas Industry

Start End Duration Venue Fees
12 Jan 2020 23 Jan 2020 2 Weeks Dubai $6,900 Register
23 Feb 2020 05 Mar 2020 2 Weeks Cairo $6,400 Register
02 Mar 2020 13 Mar 2020 2 Weeks Kuala Lumpur $7,300 Register
13 Apr 2020 24 Apr 2020 2 Weeks Bangkok $7,500 Register
18 May 2020 29 May 2020 2 Weeks Paris $7,900 Register
08 Jun 2020 19 Jun 2020 2 Weeks Cape Town $9,000 Register
20 Jul 2020 31 Jul 2020 2 Weeks New York $10,000 Register
10 Aug 2020 21 Aug 2020 2 Weeks Ankara $7,300 Register
13 Sep 2020 24 Sep 2020 2 Weeks Abu Dhabi $6,900 Register
05 Oct 2020 16 Oct 2020 2 Weeks Jakarta $8,000 Register
01 Nov 2020 12 Nov 2020 2 Weeks Alexandria $6,400 Register
21 Dec 2020 01 Jan 2021 2 Weeks Rome $7,900 Register


PROGRAM'S BACKGROUND


In business, whatever your specialism, you will benefit from a keen sense of commercial awareness. This program has been designed specifically for non-finance specialists in the oil and gas exploration and production industry who need to understand the financial implications of the work they do. This program will provide you with a sound foundation in the financial aspects of oil and gas exploration and production. 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. You will be able 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

PROGRAM'S OBJECTIVES


This Program’s Attendees Will Be More Able To:

›       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 authorization 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

PROGRAM'S ATTENDEES


›       Those who have little or no previous exposure to company finance and accounting

›       Anyone working in all functional areas of an organization who need a better understanding of accounting and finance in the industry

›       Those who have some financial responsibility within their area of activity and those whose career development involves progression 

PROGRAM'S OUTLINE


THE E&P BUSINESS & PROJECT ECONOMICS

THE BUSINESS ENVIRONMENT

›       Business objectives

›       Stakeholders

›       Corporate governance

THE E AND 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

ACCOUNTING, EXPLORATION & 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

RESERVES, PRODUCTION & COST OF SALES

RESERVES OF OIL AND GAS

›       Classification of reserves

›       Reserve quantity disclosures

PRODUCTION COSTS

›       Lifting costs

›       Maintenance costs

›       Royalties

DEPRECIATION, DEPLETION AND AMORTIZATION

›       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

RISK & 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

FINANCIAL ANALYSIS, BUDGETS & MANAGEMENT REPORTS

ANALYSIS OF FINANCIAL STATEMENTS

›       Profitability, liquidity and solvency

›       Investment measures

BUDGETS

›       Authorization of expenditure

›       The budget process

MANAGEMENT REPORTS

›       Responsibility reporting

›       Analysis of variances

ADDITIONAL DETAILS




Pioneers is a registered trademark © 2008-2018
Material published by Pioneers shown here is copyrighted.
All rights reserved. Any unauthorized copying, distribution, use, dissemination; downloading, storing in any medium, transmission, reproduction or reliance in whole or any part of this course outline is prohibited and will constitute an infringement of copyright.
P.O. Box 11111,
Ibn Al-Hakam Square, Helmyat El-Zaytoon, Cairo, Egypt
Tel: 002 01117866099 | 01117864455, Email: info@pioneerscenter.com
 

Benefits to Organization

1. The candidates will become competent, effective and productive on their jobs. This training program is useful for:
        · Competency building where existing employee is promoted or planned to be promoted.
        · Technical knowledge, skills and competencies.
        · Needs and expectations of the stakeholders/ customers both internal and external.
        · Opportunities to exceed stakeholder/ customer expectations.
2. Create a pool of trained manpower that can cost-effectively spread the knowledge to large number of employees inside the organization.
3. Our facilitators often act as mentors for your trained employees and thus provide a most effective way to ensure effective competency development and application by your motivated staff.
4. We adopted a one-to-one approach that can provide more room for your employees to work at their own pace and address individual needs more freely.

Benefits to the Individuals

1. The candidates will gain a multi-discipline understanding of the subject matter.
2. Have an individual action plan to take away that will help the candidates make a difference in their organizations. This will add value to the expertise and experience of the candidates’.
3. Be more able to enhance job satisfaction and reduce wasted time and effort.
4. Ensure that the candidates will know and appreciate the strategic imperatives that drive the organization's efforts in their relevant job area.
5. Be more able to align your roles and job requirements with the organization’s mission and vision.
6. Be more able to meet your deadlines and tasks and successfully complete any scorecard in a timely fashion.

Additional Benefits

1. Good & best industry practices.
2. Checklist approach for ease of understanding and practical application.
3. Latest technologies including information technology, quality assurance and methodology.
4. Quality assurance and quality improvement incorporated in each program.
5. One-to-one approach and small groups will lead to learner-centered environment.
6. Experienced and qualified instructors both academically and in practice.
7. Customized programs to meet and suit individual training needs.
8. Letters of recommendation for the exceptional performers.

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