Upstream Petroleum Accounting To Enhance COST Awareness in Performing Tasks FOR NON ACCOUNTANT

-
Upstream Petroleum Accounting To Enhance COST Awareness in Performing Tasks FOR NON ACCOUNTANT
August, 28th – 30th 2013, Papandayan Hotel Bandung




Course Objectives

·         To explain and describe the essentials aspect of accounting in upstream petroleum operation
·         To explain comprehensively what is cost related to upstream petroleum operation
·         To learn how to calculate Depreciation, Depletion and Amortization of Capital Assets  

This course is designed for those interested in learning about accounting aspects of upstream petroleum operation as an additional working knowledge to support his or her assignments. 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.


Course Content

1.    Introduction to Petroleum Accounting
·         Generally Accepted Accounting Principles
·         Historical Cost Accounting Methods
·         Successful Efforts  Accounting
·         Full Cost Accounting

2.    Non Drilling Exploration Costs
·         G&G Costs
·         Carrying and Retaining Costs
·         Test Well Contributions
·         Support Equipment and Facilities

3.    Exploratory and Development Drilling Costs – Successful Effort
·         Well Classification
·         Exploratory Drilling Costs
·         Development Drilling Costs
·         AFE and Drilling Contract
·         Workovers and Other Drilling Operation
·         Additional Development Costs
·         Suspended Well Costs
·         Interest Capitalization

4.    Proved Property Cost Disposition- Successful Effort
·         Amortization
·         Abandonment or Retirement
·         Impairment


5.    Full Cost Accounting
·         Disposition of Capital Costs
·         Interest Capitalization
·         Ceiling of Capital Costs


6.    Accounting for Production Activities
·         Accounting Treatment
·         Accumulation and Allocation of Costs
·         Individual Production Costs
·         Project Analysis and Investment Decision

7.    General Discussion of Current Issues


Training Method

  • Presentations, active participation through group discussions
  • Highly interactive lecture
  • Experiential learning

Target Participants


Professionals in the Company who want to get an additional working knowledge of accounting aspects of upstream petroleum operation to enhance their cost consciousness in performing their tasks.

Comments

Post a Comment

Popular posts from this blog

Joint Operations, A Way of Sharing Risks & Reward in Petroleum’s E & P Segment

-
Image
Joint Operations, A Way of Sharing Risks & Reward in Petroleum’s E & P Segment Instructor: Mr. Jimmy Karnadi August  28 th – 30 th 2013 – Tentrem Hotel Yogyakarta   COURSE OBJECTIVES Operating in oil and gas industries, for sure it is understandable by every body that it involves capital intensive, yet the success ratio in these industries is very low. In an attempt to minimize risks and at the same time to gather the needed capital which the E & P companies should spend, they form Joint Operation to achieve their aims. To enable to operate, do proper recording and make correct reporting of your company, either as an operator or non operator as the case may be for your company, each of you should know the basic legal form of the Joint Venture Agreement, Joint Operating Agreement, Accounting Procedure and any other matters that your company has entered an agreement into. Your company may enter into various Joint Venture Agreements, through Far
Read more

HSE /K3LL ( Keselamatan, Kesehatan Kerja & Lindungan Lingkungan) Internal Audit

-
Image
HSE /K3LL ( Kes e lamatan, Kesehatan Kerja & Lindungan Lingkungan )   Internal Audit                         7-9 October 2015 – Yogyakarta Undang-undang no 1 tahun 1970 tentang keselamatan kerja mensyaratkan diterapkannya Sistem Manajemen Keselamatan dan Kesehatan Kerja. Dalam hal ini, perusahaan menerapkan Panitia Pembina Keselamatan dan Kesehatan Kerja (P2K3), sesuai dengan Peraturan Menteri No Per-04/MEN/1987 tentang Panitia Pembina Keselamatan dan Kesehatan Kerja serta Tata Cara Penunjukan Ahli Keselamatan Kerja. Meskipun pelaksanaan Sistem Manajemen K3LL / HSE   di perusahaan menjadi tanggung jawab P2K3, akan tetapi peran pekerja dalam menerapkan kaidah-kaidah Keselamatan dan Kesehatan Kerja juga sangat penting. Dalam rangka meningkatkan kompetensi, pemahaman dan pengetahuan perusahaan Saudara tentang   Sistem Manajemen Keselamatan dan Kesehatan Kerja (OHSAS18001:2007), dan   ISO 14001:2004   mencakup 3 hal pokok yaitu: pemenuhan peraturan perundang-und
Read more

BUDGETING AND REPORTING CONCEPTS for JOINT COOPERATION CONTRACT

-
Image
Budgeting and Reporting ConCEPTS  for JOINT COOPERATION CONTRACT (KKS) “ POD, WP&B, FQR, AFE, COR AFE, PIS, and PPP ” 12- 14 Agustus 2020 - Royal Ambarrukmo Hotel Yogyakarta     PENDAHULUAN Bentuk Production Sharing Contract (PSC) memberikan akses untuk melakukan kegiatan eksplorasi dan pengembangan industri hulu minyak dan gas bumi (migas), yang ditandai dengan pembagian produksi migas sebagai hasil kerjasama antara investor ("Kontraktor") dengan Pemerintah sebagai pemegang hak atas tambang migas ( mineral right ). Proyek eksplorasi dan pengembangan industri hulu migas ditandai oleh modal investasi sangat besar, tenggang waktu panjang, dengan informasi wilayah kerja tidak lengkap . Untuk memenuhi kondisi tersebut, diperlukan suatu prespektif keekonomian yang terkait dengan Plan of Development (POD).   POD merupakan kata kunci usaha di bidang hulu migas yang padat modal, berteknologi tinggi dan beresiko besar, sehingga perencanaan pengembangan lapangan
Read more