After the completion of this training course, participants will learn:

• Understand the nature of costs and cost drivers in the E&P industry through the Field Life Cycle
• Purpose of the Budget. Planning and Budgeting models. The Strategic and Medium-term plan
• Using budgets to make effective decisions. Prepare and understand costs in planning, budgeting & forecasting processes e.g. fixed / variable, capex / opex and routine / non-routine.
• Cost Accounting. Importance of timely cost capture and accurate recording e.g. VOWD / accruals, consistency of coding and clarity on accountability
• Strategic solutions in delivering cost optimization – “do more for less”
• Management of costs in PSC and JV environments. Avoiding cost leakage and ensuring audit preparedness
• Cost Control Framework – budgets, AFEs, progress reports and variance analysis. Understanding key components and ensuring seamless interaction
• Cost Performance Reporting – use of KPI’s, variance analysis and trend analysis. Tracking and monitoring cost optimization initiatives and targets

This training course is suitable and will greatly benefit the following specific groups:

• Finance staff with accounting and financial management responsibilities
• Those responsible for devising budgets, managing and controlling budgets
• Professionals engaged in planning, budgeting and management reporting
• Finance & Audit staff engaged on cost and financial controls
• Business unit managers and personnel whose responsibilities include cost management, controlling budgets and performance reporting

• Basic or Foundation

The training instructor relies on a highly interactive training method to enhance the learning process. This method ensures that all participants gain a complete understanding of all the topics covered. The training environment is highly stimulating, challenging, and effective because the participants will learn by case studies which will allow them to apply the material taught in their own organization.

Course Duration: 3 days in total (21 hours).

Training Schedule

0830 – Registration 0900 – Start of training 1030 – Morning Break 1045 – Training recommences 1230 – Lunch Break 1330 – Training recommences 1515 – Evening break 1530 – Training recommences 1700 – End of Training

The maximum number of participants allowed for this training course is 25.

This course is also available through our Virtual Instructor Led Training (VILT) format.

Your expert course leader has more than 30 years of experience in the international oil and gas industry, covering all areas of Finance and Audit, including involvement in Commercial roles. During her 19 years with ENI she worked in Italy, Netherlands, Egypt and UK and was CFO for 2 major ENI subsidiaries. She has delivered training courses in Accounting, Audit, Economics and Commercial topics in many Countries.

She has a Degree in Economics & Accounting and is a Certified Chartered Accountant. She is also a Chartered Auditor and an International Petroleum Negotiator. Outside of work, she is inspired by the beauty of nature and art, helping disadvantaged people, sports (football, golf) and her cat.

Courses Delivered Internationally:

• E&P Accounting, Auditing in the Oil & Gas Industry
• Cost Control & Budgeting
• Introduction to the Oil & Gas Industry
• Petroleum Project Economics
• Contracts Strategy
• International O&G Exploitation Contracts

To further optimise your learning experience from our courses, we also offer individualized “One to One” coaching support for 2 hours post training. We can help improve your competence in your chosen area of interest, based on your learning needs and available hours. This is a great opportunity to improve your capability and confidence in a particular area of expertise. It will be delivered over a secure video conference call by one of our senior trainers. They will work with you to create a tailor-made coaching program that will help you achieve your goals faster.
Request for further information post training support and fees applicable