Course Details
Course Outline
5 days course
Exploration and production and project economics
- Work environment.
- Objectives.
- Stakeholders.
- Corporate governance.
- Exploration and Production.
- The risk and the return.
- Commercial arrangements.
- Domain lifecycle.
- Project economics
- Project cash flows.
- The time value of money.
- Discount and cost of capital.
- Project economic models.
- Decision criteria.
Accounting, development and exploration costs
- Accounting system.
- Data capture and recording.
- Cash and receivables.
- The balance sheet.
- Income statement and measure profit.
- Accounting principles and standards.
- Capital and operational expenditures.
- Match costs with returns.
- Assets and Expenses.
- Exploration and evaluation costs.
- Total cost and successful efforts.
- Intangible assets.
- Development costs
- Obligations.
- Tangible assets.
Reserves, production, and costs of sales
- Oil and gas reserves.
- Classification of reserves.
- Reserve quantity disclosures.
- Production costs.
- Crane costs
- Maintenance costs.
- Royalties.
- Depreciation, depreciation, and amortization.
- Unit production method.
- Change in costs and reserves.
- Maximum and impairment tests.
- Requirements of the testing process.
- Accounting and testing results.
- Removal and recovery obligations.
- Reporting the costs and obligations of shutting down operations or withdrawing licenses.
Risk and cost-sharing agreements
- Joint projects.
- Cash orders.
- Invoice lists.
- Accruals and levers.
- Transfers of interest or risk.
- Subcontracting for a service.
- Interests raised (performance fee).
- Production sharing contracts.
- Cash flow effect.
- Reserve effect.
- Long term gas contracts.
- Pricing mechanisms.
- Agreement to purchase the product or pay the fine.
Financial analysis, budget preparation, and administrative reports
- Financial statement analysis
- Profitability, liquidity, and financial convenience.
- Investment metrics.
- Budgets.
- Authorization to carry out expenses.
- Budget preparation process.
- Administrative reports.
- Liability reports.
- Variance analysis.
