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​

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​

Those who have had little or no previous exposure to company finance and accounting and is also people working in all functional areas of an organization who need a better understanding of accounting and finance in the industry, anyone who have some financial responsibility within their area of activity and those whose career development involves progression

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

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

Reserves, Production and 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 and Cost Sharing Arrangements

Joint Ventures

• Cash calls
• Billing statements
• Entitlements and lifting’s

Transfers of Interests or Risks

• Farm outs
• Carried interest

Production Sharing Contracts

• Cash flow implications
• Reserve implications

Long-Term Gas Contracts

• Pricing mechanisms
• Take or pay

Financial Analysis, Budgets and 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

BTS attendance certificate will be issued to all attendees completing minimum of 75% of the total course duration.

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