By the end of this training course, participants will be able to:

• • Understand the full cost structure of oil & gas projects and operations
  • Apply key financial control tools including budgeting, forecasting, and variance analysis
  • Analyze financial statements and evaluate project performance
  • Gain clarity on industry-specific issues such as depreciation, decommissioning, and impairment
  • Navigate joint venture and production sharing contract (PSC) implications
  • Strengthen collaboration with finance teams by understanding their processes and priorities
  • Make better-informed decisions that align with the organization’s financial and strategic goals

This program is ideal for non-financial professionals and decision-makers in the oil & gas sector, including:

• • Technical team leads and project managers
  • Exploration, operations, and asset managers
  • Engineers and geoscientists in supervisory roles
  • JV coordinators, planners, and commercial teams
  • Department heads or function managers who engage with budgets, forecasts, or financial reports
  • Any professional transitioning into a more strategic or cross-functional leadership role

This course uses a blend of financial theory and oil & gas case realities to create an applied learning experience. Participants work through frameworks, calculations, and real-world examples from upstream, midstream, and downstream environments. The program includes:

• Interactive presentations and group discussions
• Hands-on financial exercises in MS Excel (no prior Excel expertise needed)
• Mini-cases from E&P projects and joint ventures
• Peer learning and reflective sessions tailored to participant roles

Module One: Understanding Oil & Gas Project Economics

• • Field lifecycle and financial implications at each stage
  • Cash flows and discounting: NPV, IRR, Payback Period
  • Time value of money in project decisions
  • Investment screening and prioritization
  • Practical examples from upstream and downstream project evaluations

Module Two: Financial Reporting and Sector-Specific Accounting

• • Structure of the income statement, balance sheet, and cash flow statement
  • IFRS 6: Accounting for exploration, and evaluation of mineral resources
  • Successful efforts vs. full cost method
  • Depreciation, depletion & amortization (DD&A)
  • IAS 36 'Impairment of Assets'

 Module Three: Budgeting, Forecasting & Variance Analysis

• • The budgeting cycle in oil & gas projects
  • Forecasting cash flows and adjusting to market shifts
  • CapEx vs OpEx tracking
  • Variance analysis: identifying causes and responses
  • Linking operational KPIs to financial outcomes

Module Four: Managing Joint Ventures & Cost-Sharing Arrangements

• • Joint ventures structures and cash calls in joint ventures
  • Production sharing contracts (PSCs)
  • Cost allocation, billing, and audit processes
  • Farm-ins and farm-out operations in oil & gas sector
  • Working with JV partners, the financial aspect

Module Five: Financial Control for Strategic Decision-Making

• • Control systems for cost containment and performance tracking
  • Interpreting profitability, liquidity, and solvency ratios
  • Aligning decisions with financial risk, market volatility, and corporate strategy
  • Enhancing financial communication between technical and finance teams
  • Building a culture of accountability and financial awareness

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