Authorisation of Expenditure

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 Overview

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

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