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FI62 31 Aug - 04 Sep Kuala Lumpur $5350 Register

This training programme is designed and structured to give the delegates an overview of the technical details involved in the practices of accounting for oil and gas production and exploration. This course is designed to understand Cash Call and compute Cost Allocation for both PSC and JV. It will help delegates to have good internal controls on their financial and revenue accounting.


Who Should Attend?

Personnel who can attend this course are:

    • Auditors
    • Tax department staff and managers from different departments
    • Financial analysts and accountants
    • Accounts and finance managers and staff
  • Corporate planners
  • Planning departments Staff

Course Objectives

This training programme will enable the delegates to:

  • Compute cost allocation for both PSC and JV
  • Utilize financial control systems (Internal / external controls in a control environment)
  • Acknowledge operations and joint venture operating agreements
  • Study and learn Oil and Gas Revenue Accounting

Interested in SAP Hana Courses? You might want to check out our SAP HANA category of courses.


Course Outline

  • Overview of Exploration, Production and Characteristics of Petroleum industry
  • Analysis: Oil & Gas (E& P) and Ascertainment, Cost Classification & Treatment of Costs
  • The fundamentals of Accounting and financial policies in relation to O&G upstream operations
  • Description: Operations and joint venture operating agreements
  • Overview: Cost allocation for both PSC and JV asset tariff charges
  • Understanding Accounting Implications and E&P operations funding arrangements
  • Introduction to Oil and Gas Revenue Accounting
  • Overview: The Memorandum of Understanding (MOU) and Joint venture (JV) agreements
  • Difference between Allowable and Non-Allowable Costs
  • Expenditure (AFEs) Authorization
  • Overview of JV Accounting Reports
  • Understanding the PSC Agreements
  • Understanding Accounting Implications of Carried Interests, PSC Accounting Procedure and Reporting Processes
  • The concept of Budgets and financial planning
  • An overview: Budgets Preparation
  • Differences between Corporate Budgets vs JV budgets
  • Non-Operated vs Operated Budgets
  • Understanding Budgets Analysis
  • Introduction to Financial Controls Systems
  • Understanding the concept of Budgetary Control
  • Budget Control and AFE administration
  • Performance measurement and performance bench marking
  • Financing Options for Oil and Gas
  • Profit Tax & Production Tax: Oil and gas tax regimes
  • Description: Financial Performance Analysis for Multinational Oil Companies
  • Acknowledging the Financial Statement of International Oil Companies

General Notes

  • All our courses can be facilitated as Customized In-House Training course.
  • Course duration is flexible and the contents can be modified to fit any number of days.
  • As for Open Enrolment Courses, we offer our clients the flexibility to chose the location, date, and time and our team of experts who are spread around the globe will assist in facilitating the course.
  • The course fee includes facilitation, training materials, 2 coffee breaks, buffet lunch and a Certificate of successful completion of Training.
  • FREE Consultation and Coaching provided during and after the course.
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Note
Customized Schedule is available for all courses irrespective of dates on the Calendar. Please get in touch with us for details.
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