Introduction to Oil and Gas Exploration and Production
Introduction to Oil and Gas Exploration and Production
Course Code:
OG20
Course Objective
Participants will learn to understand generic financial concepts in terms of the main financial reports, the difference between profit and cash flow, and how to differentiate between capital expenditure and operating expenditure.
Some common techniques and ratios used to measure a company’s financial performance will also be covered to give a basic understanding of the drilling and building a well, formation evaluation,
Participants will build on the generic concepts learned in day one by understanding more about the application of these concepts in an Exploration and Production (E&P) company.
Target Audience
Managers.
Supervisors.
and other staff members who don’t have a financial background, but require an understanding of financial information to help them be aware of how the business is doing.
Section Engineers.
Planners.
Course Outline
The P&L Account, Balance Sheet, and Cash Flow Statement
Sources and uses of financial information
Understanding financial information
Cash flow
Accounting Policies and Preparation of an Annual Budget