Cost Control in Upstream Oil and Gas Operation

Cost Control in Upstream Oil and Gas Operation

 

Description :

This course is designed for those interested in learning how to set up control of cost for each stage of the upstream operation activity as an additional working knowledge to support his or her assignment.

Concepts and theory are presented in such a way that will invite participants to be actively involved in the discussions. The presentation of related cases and discussion of current issues are intended to help participants in turning the theory into practical knowledge.

Outline :

General

·         Petroleum Accounting principles

·         Indonesian PSC Accounting

Cost Classification

·         Acquisition cost

·         Exploration cost

·         Development cost

·         Production cost

·         Administration and General cost

Capital and Non Capital Cost

·         Definition

·         Capital Budgeting

·         Depreciation

Authorization For Expenditures

·         Why need AFE?

·         Project vs. Non-Project

·         AFE revision, and supplement

·         AFE control and report

Accruals

·         Concept and theory

·         How to control and calculate the number to be accrued

Expense Performance Report

·         Preparation of report

·         Analysis and adjustment

Transfer of Materials

·         Inter warehouse transfer

·         Well to well transfer

·         Inter company transfer

Operating Costs

·         Definition

·         Method of calculation

Who should attend :

·         Junior to middle management finance staff and managers preparing for taking role in cash monitoring and management function (treasury positions)

·         Accountant, Financial Analyst, Business Analyst, Budget Analyst, Treasury Staff, and other finance function staffs.

·         Non-financial staff and managers (Drilling and E&P Engineers, Logistic, Purchasing, Contract) at all levels who are interested to gain and upgrade their skills in cash monitoring and management.