Course ID  009C:  Strategic Exploration & Production Accounting  May 26 -30  *  Houston

This course is aimed at improving the knowledge of participants and ensuring capacity building in the performance of International E & P accounting and finance practices which have become germane for success in running businesses in the industry.


This course entails:


  • Presentations

  • Practical examples, exercises

  • Group discussions and reviews

  • Case studies


Course Outline:


Case Studies & Reviews


  • Overview of the E & P industry

  • Changes impacting the industry

  • Impact on accounting and finance in the success or failure of E & P operations

  • Accounting Policies and the oil and gas industry

  • Regulation of  oil and gas accounting

  • Accounting policies and reporting of financial performance

  • Successful efforts and full – cost accounting

  • Reserve data and accounting calculations

  • Calculation of depreciation, depletion and amortization ( DD & A)

  • Impacts of Differing Levels of Capitalized Assets

  • Impact of Financial Statement – FC vs. SE

  • Cash Flow Analysis

  • Conducting Impairment or Ceiling Test

  • Accounting for Decommissioning Cost

  • Accounting Disclosures

  • International Accounting Standards

  • Sales Revenue and E & P Company Taxes

  • Accounting for Financing Arrangement

  • Government Policies & Legal Frameworks for   E & P

  • Introduction to Joint Venture & Partnerships

  • Why do companies and countries go into Joint Venture

  • Joint Venture and Accounting

  • Preparation and Processing of a Cash Call

  • Unitization and Redetermination

  • Joint Venture Billings/Statement

  • Allocation of a Joint Venture Cost

  • Materials and Inventory Accounting

  • Joint Venture Failures/Issues  Due to Accounting Mistakes

  • Production Sharing Contracts

  • Accounting for Production Sharing Contracts

  • Accounting Issues & Challenges in PSC

  • Project Cost Estimation

  • Control of Capital Expenditure

  • Control of Production Operating Cost

  • Fixed and Variable Cost Analysis

  • Activity Analysis

  • Introduction to Drilling

  • Well Cost Estimation, controlling drilling expenditure

  • Forecasting Drilling AFE Costs

  • Reviewing Well Cost & Completion

  • Comparative Analysis

  • Departmental Budget

  • Performance Measurement

  • Balanced Scorecard

  • Financial and Strategic Planning

  • Ethics & Morality


Who Should Attend

  • Finance and accounting staff

  • Commercial and contract staff  that will benefit from this course


Course Duration5 Days

Course Fee: $4, 000                                                                              


School of Energy & Corporate Leadership (SECOL) is a global organization  that uses award winning experts in  providing training in the areas of energy, oil, gas, petrochemicals, regulations, law, leadership, organizational development , management, finance and economics. We believe strongly in the philosophy that humans are the greatest assets of any country or organization, and therefore should be nurtured with continuous quality training to enhance productivity, efficiency, effectiveness, reliability and competitiveness. SECOL will continue to create dynamic environment for capacity building, ensuring high performance, strategic agility, and leadership that would help organizations attain their goals and enable nations optimize socio- economic growth.