ACCOUNTING PROCEDURES & FINANCIAL MANAGEMENT FOR E&P OPERATIONS
Course Description:
This course will provide detailed workings of the practices and the various financial management control techniques upstream sector of the petroleum industry which will enhance their on-the-job professional competence.
Given the need for adequate cost containment, we have included a section on budgeting & cost control. There will be practical examples using international oil companies’ final accounts which will expose participants to the intricate processes as we examine numerous case studies.
Content:
- Financial Planning & Budgets
- Budgets Preparation: An Overview
- JV Budgets vs. Corporate Budgets
- Operated vs. Non-Operated Budgets
- Budgets Analysis
- Financial Controls Systems (including the control environment: internal / external controls)
- Budgetary Control (including variance analysis, project cost control, production cost reporting & control)
- AFE Administration & Budget Control
- Performance Bench Marking & Performance measurement.
- Oil & Gas Financing Options
- Understanding the Financial Statement of International Oil Companies
Who Should Attend?
- Petroleum Economists
- Financial Analysts
- Accountant
- Lawyers