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Authorisation for Expenditure (AFE) in Upstream International Petroleum – Oil and Gas – Production, Accounting, Joint Venture, Lease and Sales Contracts (Intensive Full-Time) (London, UK)

HRODC Postgraduate Training Institute

Course

In Central London ()

£ 38,000 + VAT

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Description

  • Type

    Intensive course

  • Duration

    3 Months

This Course is Designed For:
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 and Refinery Managers
Marketing and Sales Directors and Managers
Others interested in the operation of the Oil and Gas Industry, its regulation, exploration, production, and accounting systems

About this course

Degree or Relevant Work Experience

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Subjects

  • Management
  • Contracts
  • Accounting
  • SAP
  • IT
  • Marketing
  • Sales
  • Oil and Gas
  • Gas
  • International
  • Accounting MBA
  • Financial
  • Venture
  • Property
  • Government
  • Full Time
  • Joint
  • Accountants
  • Financial Training
  • IT Management
  • Petroleum
  • Sales Training
  • Production
  • Accounting Concepts
  • Successful Efforts Accounting
  • Full Cost Accounting
  • Leases
  • Floating Production Storage and Offloading
  • Oil and Gas Processing Agreements
  • Oil Transportation Agreements
  • Gas Transportation Agreements
  • Upstream Oil and Gas Accounting
  • Oil and Gas Operation
  • Mineral Rights
  • Joint Venture Accounting
  • Petroleum Production Contracts
  • Authorisation for Expenditure
  • Parties to the Joint Venture
  • Business Plan for Joint Venture
  • Fixed Asset Accounting
  • Project Accounting

Teachers and trainers (1)

To Be Assigned

To Be Assigned

Consultant, HRODC Postgraduate Training Institute

Course programme

Limited Contents, Concepts and Issues:

Module 1: Upstream Oil and Gas Accounting and Contracts: Oil and Gas Operation, Mineral Rights, Leases and Successful Efforts Accounting
  • Upstream Oil and Gas Operations
  • Classification of Oil and Gas Operation
  • Upstream: Exploration and Production Sector
  • Midstream: Trading and Transportation
  • Downstream Activities: Oil Refining and Marketing Including Introduction to Oil and Gas Accounting (1)
  • Nondrilling Exploration Costs – Successful Efforts
  • Acquisition Costs of Unproved Property – Successful Efforts
  • Acquisition Costs of Unproved Property – Successful Efforts
Module 2: Advanced Oil and Gas Accounting: International Petroleum Accounting (1)
  • Accounting Concepts
  • Financial Governance and Standardization Institutions
  • Drilling Development Costs – Successful Efforts
  • Proved Property Cost Disposition – Successful Efforts
  • Full Cost Accounting
  • Accounting for Production Activities
Modules 3-6: International Joint Venture and Joint Venture Accounting

Principles of International Joint Venture
  • What is a Joint Venture?
  • General Characteristics of Joint Ventures
  • Functional Types of Joint Venture Relationships
  • Advantages and Disadvantages of Joint Ventures
  • Joint Venture vs. Partnership
  • Structural Components of a Typical Joint Venture
  • Transaction Checklists for Forming a Joint Venture
  • Alternatives to Joint Ventures for Entering Foreign Markets
Legal and Regulatory Aspects of Joint Venture Activities
  • Enterprise Laws
  • Commercial Laws
  • Related Commercial Law Issues
  • Contract Laws
  • Sales of Goods Transactions
  • Debtor-Creditor Laws
Market Analysis
  • Social and Political Factors
  • Country Analysis
The Roles of the Parties to Joint Venture
  • The Foreign Party
  • The Local Party
  • The Local Regulators
  • Professional Advisors
  • Other Business Partners
Parties to the Joint Venture: The Selection
  • Locating Potential Joint Venture Partners
  • Due Diligence Investigation
  • Evaluating Potential Joint Venture Partners
Other Topics:
  • Success or Failure of Joint Venture: Factors
  • Confidentiality Agreement
  • Legal Entity Selection for Joint Ventures
  • Joint Venture Terms Negotiation
  • Business Plan for Joint Venture
  • Securing Government Approval
  • Financing and Insuring the Joint Ventures
  • Forming the Joint Venture
  • Management and Control of the Joint Venture
  • Operation the Joint Venture
  • Crisis Management
  • Terminating the Joint Venture
  • Venturers’ Agreement
  • Joint Venture Accounting
  • Interest in Joint Ventures: International Accounting Standard
Modules 7-8: SAP and Joint Venture Accounting
  • Sales and Accounts Receivables
  • Purchases and Accounts Payable
  • Fixed Asset Accounting
  • Project Accounting
  • Joint Venture Accounting
  • Cut Back Process
  • Partners share
  • Billable and Recoverable
  • Authorisation for Expenditure (AFE)
  • Billable and Non-Recoverable
  • Non-Billable and Non-Recoverable
  • Exclusive
  • Implementing Joint Venture accounting agreements within the SAP system
  • Account Reconciliation
  • Joint Venture Reports
Modules 9-10: Petroleum – Oil and Gas – Production Contracts

Contracts with Contractors for Services
  • Production Platform and FPSO (Floating Production Storage and Offloading) Construction Agreements
  • Production Platform and FPSO Operating Agreements
  • Contracts for Producing Services
  • Platform ancillary Services Agreements
Contracts with other Joint Ventures for Services
  • Indicative Tariff and Service Request Agreements
  • Oil and Gas Processing Agreements
  • Oil Transportation Agreements
  • Gas Transportation Agreements
  • Pipeline Tie-In Agreements
  • Pipeline Crossing Agreements
  • Proximity Agreements
  • Agreements for Use of Producing Facilities
  • Power Supply Agreements (Perhaps In Exchange For Production)
  • Power Export Agreements
  • Emissions Trading and C02 Injection Agreements
Petroleum Sales Contracts
  • Oil Sales Contracts
  • Gas Sales Contracts
  • LNG and LPG Sales Contracts
  • Production Exchange Agreements
Petroleum Transactions
  • Production Acreage Sale and Purchase and Exchange Agreements
  • Farm-In Agreements
  • Asset Exchange Agreements
  • Sale and Leaseback Agreements
  • Sale With Obligation to Take Back at End of Production
Modules 11-12: Authorisation for Expenditure (AFE) in Joint Venture Upstream International Petroleum – Oil and Gas – Production Accounting

Oil and Gas Contracts
  • Government Agreements
  • Joint Operating Agreements (JOAs)
Understanding Joint Venture Agreements
  • Conceptualising Joint Venture Agreements
  • The Joint Agreement Checklist
  • Joint Venture Accounting Objects:
  • Joint Operating Agreement (JOA)
  • Equity Type
  • Equity Group
  • Joint Venture Partner
  • Recovery and Billing Indicators
  • Pre-Unitisation Agreements
  • Unitisation Agreements
  • Oil and Gas Lifting Agreements
  • Sleeping Partner Agreements (Allowing Some JV Parties To Continue Production)
  • Decommissioning Agreements
  • Decommissioning Security Agreements, Parent Company Guarantees and Performance Bonds
Authorisation for Expenditure (AFE)
  • When is Authorisation for Expenditure (AFE) necessary?
  • Authorisation for Expenditure (AFE) as a Process
  • Authorisation for Expenditure (AFE) as a Document
  • Functions of Authorisation for Expenditure (AFE)
  • Components of Authorisation for Expenditure (AFE)
  • Preparation, Execution and Monitoring Process of Authorisation for Expenditure (AFE)
  • Sample Authorisation for Expenditure (AFE)
  • Drilling Contracts After Approval of AFE
  • Drilling Contract on a Turnkey Basis
  • The Billing Statement
  • Authorisation for Expenditure (AFE) in Conjunction with Joint Operating Agreement
  • Failure to Obtain Approval from all working interest owners of an Authority for Expenditure: Result
  • Reapproval of Authorisation for Expenditure (AFE)
  • Consequences for Non-reapproval of Authorisation for Expenditure (AFE)
  • AFEs as Important Controls for Oil and Gas Accounting
  • Accumulation of AFE Activities in the General Ledger
  • Executing Authorisation for Expenditure (AFE)
  • Reporting of AFE Activities at AFE Level

Additional information

HRODC Postgraduate Training Institute is registered with the UK Registry of Learning Providers (UKRLP) of the Department for Business, Innovation and Skills (BIS), formerly Department of Innovation, Universities and Skills (DIUS). Its registration number is 10019585 and can be verified at http://www.ukrlp.co.uk/

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Authorisation for Expenditure (AFE) in Upstream International Petroleum – Oil and Gas – Production, Accounting, Joint Venture, Lease and Sales Contracts (Intensive Full-Time) (London, UK)

£ 38,000 + VAT

The best Oil and Gas Industry courses

See all

See all