Advanced Oil and Gas Accounting: International Petroleum Accounting

What topics are covered by the course?

- Upstream Oil and Gas Accounting and Contracts: Oil and Gas Operation, Mineral Rights, Leases and Successful Efforts Accounting
- Advanced Oil and Gas Accounting: International Petroleum Accounting (1, 2 and 3)
- SAP and Joint Venture Accounting
- International Petroleum - Oil and Gas - Investment: Joint Ventures, Mergers, Acquisitions, Strategic and Financial Asset Management
- Oil and Gas Prices and Forward Contracts: Understanding International Petroleum - Oil & Gas - Market Rates, Hedging and Risks

Who should attend?

 Finance Directors and Managers
 Financial Controllers
 Chief Accountants
 Treasury Officers
 Asset Accountants
 Joint Venture Accountants
 Management Accountants
 Internal and External Auditors
 Government Regulators
 Financial Analysts
 Public Accountants
 Government Ministers,
 Chief Executives
 Managing Directors
 Engineers and Geologist
 Drilling & Refinery Managers
 Marketing & Sales Directors & Managers
 Others interested in the operation of the Oil and Gas Industry, its regulation, exploration, production, and accounting systems

What will I be able to do on completion?

By the conclusion of the specified learning and development activities, delegates will be able to:
 Demonstrate an understanding of the oil and gas industrial and the activities of each subsector
 Demonstrate an awareness of the salient issues associated with the development of the United States oil and gas industry, as a mark car to International oil and gas exploration developments and it mining operations;
 Address the geological issues relating to the origin, exploration and production of oil and gas;
 Outline the methods of production, employed in the oil and gas industry;
 Describe the methods of exploration generally used within the oil and gas industry;
 Explain the contractual issues that are associated with oil, gas and mineral lease;
 Address problems and issues associated with upstream oil and gas operation.
 Outliner the role of finance and accounting in an Oil and Gas Organisations
 Demonstrate an appreciation of financial reporting policies and practices applicable in Oil and Gas Industry
 Distinguish between the different types of wells
 Distinguish between natural and artificial lifts, in oil and gas production
 Demonstrate a working knowledge of Amortization, with particular reference to the oil and gas industry
 Work through examples of Amortization of exploration and development costs of proved developed reserves
 Accurately account for ‘Disposition’ of capitalized costs, in reference to the impairment of unproved properties
 Appropriately address Disposition of capitalized costs from the surrender or abandonment of property
 Distinguish between 3D and 4D Seismic
 Explain, with examples, Overriding Royalty Interests (ORI)
 Distinguish between Mineral Rights, Mineral Interests and Fee Interests
 Discuss, with examples, the benefits and drawbacks of nonworking interest
 Distinguish between Non-drilling and Drilling Costs
 Appropriately apportion costs to non-drilling and drilling operations, respectively
 Explain the basic principles of Successful Efforts Accounting in Oil and Gas
 Demonstrate mastery of the concepts and issues associated with exploration and drilling operation
 Explain, with minor omissions, the processes involved in oil and gas acquisition, exploration and mining.
 Demonstrate a heightened understanding of the differing levels of Financial Reporting Regulation and Standardization, as they apply to Oil and Gas Accounting;
 Demonstrate a heightened understanding of salient accounting concepts and governance
 Demonstrate a heightened understanding of the differing levels of regulation and standardization applied to Oil and Gas accounting;
 Deconstruct the role of finance and accounting in an Oil and Gas Organisation;
 Exhibit a heightened understanding of the requirements of International Financial Reporting Standards;
 Demonstrate a heightened ability to analyse their company’s performance, as an oil and gas player or regulator;
 Demonstrate their ability to determine the extent to which financial measurement techniques such as full cost, successful efforts and reserve recognition can be used to evaluate oil and gas producing operations;
 Exhibit their ability to utilise Advanced Financial Measurement Techniques such as full cost, successful efforts and reserve recognition are used to evaluate oil and gas producing operations;
 Exhibit their ability to manage risk effectively in oil and gas project contracts, averting pitfalls of key contractual clauses;
 Demonstrate the most appropriate contract formulation for Take-or-pay thresholds, accounting, transportation agreements, tariffs, reserving pipeline capacity, respectively;
 Determine the roles and interplay of the Governments of territories containing hydrocarbon reserves, National Oil Companies, International Oil Companies, the Major Product Suppliers, the Engineering & Contracting Companies and the Service Companies,
 Suggest the principal standard form contracts used in the industry including the North Sea LOGIC/CRINE standard form contracts and the Association of Independent Petroleum Negotiators (AIPN) standard form contracts;
 Explain the international dispute resolution framework and institutions in the context of expert decisions, mediation arbitration and litigation.

How will I be assessed?

Because of the intensive nature of our courses and programmes, assessment will largely be in-course, adopting differing formats. These assessment formats include, but not limited to, in-class tests, assignments, end of course examinations. Based on these assessments, successful candidates will receive the Diploma – Postgraduate, or Postgraduate Diploma, as appropriate.

In the case of Diploma – Postgraduate, a minimum of 70% overall pass is expected. In order to receive the Award of Postgraduate Diploma, candidate must have accumulated at least the required minimum ‘credit-hours’, with a pass (of 70% and above) in at least 70% of the courses taken.

Delegates and students who fail to achieve the requirement for Postgraduate Diploma, or Diploma - Postgraduate - will be given support for 2 re-submissions for each course. Those delegates who fail to achieve the assessment requirement for the Postgraduate Diploma or Diploma - Postgraduate - on 2 resubmissions, or those who elect not to receive them, will be awarded the Certificate of Attendance and Participation.

 On the successful completion of the Postgraduate Diploma, delegates may register for the Masters Degree, after their successful completion of Course #7: Research Project: Design, Conduct & Report.

 The Delegates’ Degree Registration Category will be dictated by the courses or modules studied at Postgraduate Diploma Level. The categories relate to Master of Business Administration (MBA); Master of Arts (MA) Master of Science (MSc); Executive Master of Business Administration (Executive MBA). Additional details are provided in the document entitled: regulation For HRODC Postgraduate Training Institute Diploma – Postgraduate - Postgraduate Diploma and Masters Degree – MA, MBA, MSc.

Guide Price: £48,000.00

Delivery: Classroom
Category: Financial Management »
Duration: 3 Months Intensive Full-Time or 6 Months Full-Time

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