/  Finance and Accounting for the Oil and Gas Industry Training

Finance and Accounting for the Oil and Gas Industry Training

BMC Training provides a training course in Finance and Accounting for the Oil and Gas Industry in Finance , Accounting and Budgeting

Course Title
Venue
Start Date
End Date
  • London
    3 - 7 - 2022
    7 - 7 - 2022
  • Madrid
    3 - 7 - 2022
    7 - 7 - 2022
  • Berlin
    3 - 7 - 2022
    7 - 7 - 2022
  • Dubai
    10 - 7 - 2022
    14 - 7 - 2022
  • Paris
    10 - 7 - 2022
    14 - 7 - 2022
  • Dubai
    17 - 7 - 2022
    21 - 7 - 2022
  • Paris
    17 - 7 - 2022
    21 - 7 - 2022
  • Istanbul
    24 - 7 - 2022
    28 - 7 - 2022
  • Dubai
    24 - 7 - 2022
    28 - 7 - 2022
  • Paris
    24 - 7 - 2022
    28 - 7 - 2022
  • Istanbul
    7 - 8 - 2022
    11 - 8 - 2022
  • Kuala Lumpur
    14 - 8 - 2022
    18 - 8 - 2022
  • Rome
    14 - 8 - 2022
    18 - 8 - 2022
  • Barcelona
    14 - 8 - 2022
    18 - 8 - 2022
  • Zurich
    14 - 8 - 2022
    18 - 8 - 2022
  • Dubai
    21 - 8 - 2022
    25 - 8 - 2022
  • Paris
    21 - 8 - 2022
    25 - 8 - 2022
  • London
    28 - 8 - 2022
    1 - 9 - 2022
  • Madrid
    28 - 8 - 2022
    1 - 9 - 2022
  • Berlin
    28 - 8 - 2022
    1 - 9 - 2022
  • Dubai
    4 - 9 - 2022
    8 - 9 - 2022
  • Paris
    4 - 9 - 2022
    8 - 9 - 2022
  • Kuala Lumpur
    11 - 9 - 2022
    15 - 9 - 2022
  • Rome
    11 - 9 - 2022
    15 - 9 - 2022
  • Barcelona
    11 - 9 - 2022
    15 - 9 - 2022
  • Zurich
    11 - 9 - 2022
    15 - 9 - 2022
  • Istanbul
    18 - 9 - 2022
    22 - 9 - 2022
  • Dubai
    18 - 9 - 2022
    22 - 9 - 2022
  • Paris
    18 - 9 - 2022
    22 - 9 - 2022
  • London
    25 - 9 - 2022
    29 - 9 - 2022
  • Madrid
    25 - 9 - 2022
    29 - 9 - 2022
  • Berlin
    25 - 9 - 2022
    29 - 9 - 2022
  • Dubai
    2 - 10 - 2022
    6 - 10 - 2022
  • Paris
    2 - 10 - 2022
    6 - 10 - 2022
  • London
    9 - 10 - 2022
    13 - 10 - 2022
  • Madrid
    9 - 10 - 2022
    13 - 10 - 2022
  • Berlin
    9 - 10 - 2022
    13 - 10 - 2022
  • Istanbul
    16 - 10 - 2022
    20 - 10 - 2022
  • Kuala Lumpur
    23 - 10 - 2022
    27 - 10 - 2022
  • Rome
    23 - 10 - 2022
    27 - 10 - 2022
  • Barcelona
    23 - 10 - 2022
    27 - 10 - 2022
  • Zurich
    23 - 10 - 2022
    27 - 10 - 2022
  • Kuala Lumpur
    6 - 11 - 2022
    10 - 11 - 2022
  • Rome
    6 - 11 - 2022
    10 - 11 - 2022
  • Barcelona
    6 - 11 - 2022
    10 - 11 - 2022
  • Zurich
    6 - 11 - 2022
    10 - 11 - 2022
  • Istanbul
    13 - 11 - 2022
    17 - 11 - 2022
  • Dubai
    13 - 11 - 2022
    17 - 11 - 2022
  • Paris
    13 - 11 - 2022
    17 - 11 - 2022
  • London
    20 - 11 - 2022
    24 - 11 - 2022
  • Madrid
    20 - 11 - 2022
    24 - 11 - 2022
  • Berlin
    20 - 11 - 2022
    24 - 11 - 2022
  • Dubai
    27 - 11 - 2022
    1 - 12 - 2022
  • Paris
    27 - 11 - 2022
    1 - 12 - 2022
  • London
    4 - 12 - 2022
    8 - 12 - 2022
  • Madrid
    4 - 12 - 2022
    8 - 12 - 2022
  • Berlin
    4 - 12 - 2022
    8 - 12 - 2022
  • Dubai
    11 - 12 - 2022
    15 - 12 - 2022
  • Paris
    11 - 12 - 2022
    15 - 12 - 2022
  • Istanbul
    18 - 12 - 2022
    22 - 12 - 2022
  • Kuala Lumpur
    25 - 12 - 2022
    29 - 12 - 2022
  • Rome
    25 - 12 - 2022
    29 - 12 - 2022
  • Barcelona
    25 - 12 - 2022
    29 - 12 - 2022
  • Zurich
    25 - 12 - 2022
    29 - 12 - 2022

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

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