Exploration and Production Accounting

SUITABLE:

Finance staff new to the industry wanting a broader understanding of the oil and gas finance function, staff who are responsible in financial management, audit, information systems, financial controls and treasury, and tax specialists.

OBJECTIVES:

By the end of the course, delegates will:

• Have a comprehensive overview of international accounting and finance practices in the E&P industry
• Gain knowledge of industry accounting policies and practices, operating costs, the accounting and financial management implications of exploring and producing oil and gas
• Learn the background and accounting treatment of financial issues that are unique to the E&P industry

SUMMARY:

• How accounting policies influence financial performance reporting
• Successful efforts and full cost accounting
• Decommissioning costs
• Joint venture accounting
• Cost control and analysis
• Drilling cost control and forecasting
• Managing project and development costs