Authorisation for Expenditure in the Oil & Gas Industry
COURSE OVERVIEW
DURATION
5 days
DATE
20 – 24 March, 03 – 07 July, 02 – 06 Oct, 11 – 15 Dec 2023
FEE
£4500
LOCATION
The Business Xchange Hub, Marco Polo House
3-5 Lansdowne Road, Croydon, Surrey, CR0 2BX United Kingdom
Course Objective:
The process of managing Authorization For Expenditure (AFE) is core to practically all E&P companies. Authorizations For Expenditure (AFEs) are typically raised by companies to provide a draw down against the broader capital budgets in relation to specific projects and account for the budget, projected field costs and actual costs based on a standard chart of accounts which depends on the type of project. AFEs are typically circulated between all concerned parties for review and approval prior to capital expenses being accrued. The process of managing AFEs also includes the working interests of partners in joint ventures which are so typical in the upstream sector of the oil and gas industry.
Who should attend
Accountants, Operational Auditors, Managers, Operators, Project Managers, Petroleum Engineers, Reservoir Engineers and Joint Venture Operators staff in the Oil and Gas industry
This course can also be taken in
Accra: 13 – 17 March, 26 – 30 June, 25 – 29 Sept, 18- 22 Dec 2023
Dubai: 06 – 10 March , 29 May – 02 June, 7 – 11 August, 9 – 13 Oct 2023
Texas: On Request
Course Content
The Concept & Understanding of AFE Contextualising Authorisation for Expenditure (AFE) Process
- AFE as Documentation for Joint Operators Approval – for expenditure
- Cost Control of AFE
- Budgeting of AFE
- Monitoring of AFE
Authorisation for Expenditure (AFE) Process
- AFE Process in Joint Operation Agreement
- AFE as Joint Venture Project Approval
- Authorisation for Expenditure (AFE) Conceptualisation
- Economical Evaluation in AFE
- Authorisation for Expenditure (AFE) for Exploration and Acquisition
- AFE For Lease Contract
- AFE For Exploration
- AFE for Exploratory Wells
Authorisation for Expenditure (AFE) for Drilling Contract
- AFE in Domestic Drilling Operations
- AFE in International Drilling Operations
- AFE for Day Rate Drilling Contract
Authorisation for Expenditure (AFE) for Development Cost
- AFE as Completion Cost in SE
- AFE for Plugging and Abandonment Cost in Dry Wells