Accounting and Finance > Exploration & Production (E&P) Cost Control, Budgeting & Cost Estimation
Code Date Format Currency Team of 10
Per Person*
Team of 7
Per Person*
Early Bird Fee
Per Person
Normal Fee
Per Person
PE1784 29 - 31 Jul 2024 Kuala Lumpur, Malaysia SGD 2,974 3,113 3,259 3,459
PE1784 29 - 31 Jul 2024 Kuala Lumpur, Malaysia USD 2,279 2,385 2,450 2,650
PE1853 18 - 20 Nov 2024 Kuala Lumpur, Malaysia SGD 2,974 3,113 3,259 3,459
PE1853 18 - 20 Nov 2024 Kuala Lumpur, Malaysia USD 2,279 2,385 2,450 2,650

*Fee per person in a team of 7 or 10 participating from the same organisation, registering 6 weeks before the course date
Request for a quote if you have different team sizes, content customisation, alternative dates or course timing requirements
Request for in-person classroom training or online (VILT) training format

Learn in teams and save more! Enjoy group discounts of up to 50% off normal fees for team based learning. Contact us on [email protected] to learn more today!

Code

PE1784

Date

29 - 31 Jul 2024

Format

Kuala Lumpur, Malaysia

Currency

SGD

Team of 10
Per Person*

2,974

Team of 7
Per Person*

3,113

Early Bird Fee
Per Person

3,259

Normal Fee
Per Person

3,459

Code

PE1784

Date

29 - 31 Jul 2024

Format

Kuala Lumpur, Malaysia

Currency

USD

Team of 10
Per Person*

2,279

Team of 7
Per Person*

2,385

Early Bird Fee
Per Person

2,450

Normal Fee
Per Person

2,650

Code

PE1853

Date

18 - 20 Nov 2024

Format

Kuala Lumpur, Malaysia

Currency

SGD

Team of 10
Per Person*

2,974

Team of 7
Per Person*

3,113

Early Bird Fee
Per Person

3,259

Normal Fee
Per Person

3,459

Code

PE1853

Date

18 - 20 Nov 2024

Format

Kuala Lumpur, Malaysia

Currency

USD

Team of 10
Per Person*

2,279

Team of 7
Per Person*

2,385

Early Bird Fee
Per Person

2,450

Normal Fee
Per Person

2,650

*Fee per person in a team of 7 or 10 participating from the same organisation, registering 6 weeks before the course date
Request for a quote if you have different team sizes, content customisation, alternative dates or course timing requirements
Request for in-person classroom training or online (VILT) training format

About this training course

This 3-day training will provide a comprehensive understanding on the nature of costs and cost drivers in the E&P industry providing in-depth understanding on the budgeting process, proactive management, effective control and optimization of costs together with focused and relevant performance reporting.

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.

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

Learn what past participants have said about EnergyEdge training courses

“It was more than perfect. I liked the method of teaching and examples from real-life experience!

M. Mohamed, OMV

I was really keen to learn something new, so it was a good opportunity to learn about ways to classify costs and how to estimate costs.

A. Assaid, OMV