Training Topics

Aupec provide training relating to:

• Accounting procedures
• Audit
• Economic risk and uncertainty
• International gas industry
• International joint ventures
• International oil industry
• International taxation
• Oil and gas finance
• Organisational structures
• Project finance
• Strategic role of corporate business
• UK tax and licensing

Accounting Procedures

• Classification of costs
• Recoverable costs
• Credits to account
• Statements required from contractor
• Inspection rights of government
• Costs incurred overseas by contractor

Audit

• PSA / licences
• Accounting procedures
• Audit scope
• Audit exposures
• Liaising with companies
• Negotiating exceptions

Economic risk and uncertainty

• Investment criteria
• DCF techniques
• Probabilistic techniques
• Cost of capital
• Risk analysis
• Portfolio optimisation

The international gas industry

• Evolution and development
• Gas supply, demand and trade
• Structure and ownership
• Gas transmission
• Security of supply
• Regulation and competition

International joint ventures

• Operator / non-operator
• JV Agreements - application
• Accounting procedures
• Accounting requirements
• Farm-ins, farm-outs
• State company as partner

The international oil industry

• Characteristics and evolution
• Crude oil prices
• OPEC
• Supply and demand
• Security of supply
• Non-renewable resource depletion

International taxation

• Economic rent and taxable capacity
• Concessionary systems
• Royalty / tax
• Production sharing
• Service contracts
• Optimal systems of taxation

Oil and gas finance

• Joint operating agreements
• The finance function
• Risk and measuring success
• Business planning, budgets & reporting
• Strategic planning
• Cost allocations

Organisational structures

• Functional / asset based operations
• Structural options
• Maintenance and supply
• The corporate structure
• Business sectors
• Operating units

Project finance

• Financial feasibility
• Cover ratios
• Financial structures
• Security arrangements
• Project risks and mitigation
• Sources of finance - role of Export Credit Agencies

Strategic role of corporate business

• The business planning process
• Budgeting and approval
• Controls to measure success
• Development of a capital
• Projects budget
• International joint ventures
• Project financing

UK tax and licensing

• History and evolution
• Royalties
• Petroleum Revenue Tax
• Corporation Tax
• Depreciation
• Abandonment