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
December, 11th - 13th  2013, Tentrem Hotel Yogyakarta

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.


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