Finance, Economics and Contracts

Contracting Fundamentals and Drafting Contracts

C2

Contracting Fundamentals and Drafting Contracts

Course objective

Training program in this section cover skills and competences required not only for the effective drafting of service contracts but for successful business in general. Drafting an accurate contractual term is very essential element for keeping company’s right and mitigating its risks against contractor’s violation. It is very important to understand what is behind drafting a contractual term and how to evaluate a contract on hand.

Course Content

– Contract Elements – Drafting Parameters – Drafting Principles – How to draft a contractual term? – The three games of checking a contract – Contract evaluation – Contract auditing procedures – Contract violation – Well Services Model Contract – Arbitration Procedures

Who Should Attend

All persons working in the contracts department (primary and intermediate level) and other persons who are dealing with contract performance, negotiation or evaluation processes such as engineering or financial staff. Introduction to drafting contracts

Duration

Risk Management and Insurance in the Oil Industry

F4

Risk Management and Insurance in the Oil Industry

Course objective

Risk Management and Insurance program is designed to promote understanding of the many aspects of risk management and insurance. It concentrates on value creation and asset protection, including pure insurance and risk management, as well as on corporate and financial risk management. It also addresses the financial and economic characteristics of potential exposures to loss that business organizations and individuals face, and the techniques available for hedging the risks and minimizing the costs associated with these exposure.

Course Content

• Introduction to theory of oil formation and oil production activities. • Comprehensive review on Risks involved in the various oil production activities. • The meaning of Risk. • The Classification of Risks • Level Of Risks • Definitions • Steps in the Risk Management Process • Insurance Information Sources. • The Fundamental Insurance Principles. • Main types of Insurance Policies covering Company’s Operations. • Main types Of Insurance Requirements covering Contract’s Activity (Insurance Pamphlet). • Insurance Pricing • General Idea on the Insurance Market and the Reinsurance Business. • The meaning of Claims and how to prepare correctly. • Indemnity Agreement • Insurance Regulation • References • Case study & self assessment

Who Should Attend

Anyone employed in the Oil Industry and concerned with Risk management and Insurance

Duration

Cost Accounting in Oil & Gas Companies

F6

Cost Accounting in Oil & Gas Companies

Course objective

This course is designed to increase the cost accounting understanding and conscious for those who are working in the oil and gas industry field. A review of the nature of cost accounting in the oil and gas field, accounting books, accounting principles, financing the industry, cost recovery, tools of cost control and concession agreements

Course Content

– What is Accounting – Nature of Joint Venture Companies financing of the activities: – Nature of costs in oil and gas industry: – Charge designation of costs and cost allocation: – Accounting Procedures, Principles and Systems – How to control the costs Recovery of costs – Production Sharing between Parties – Financial Reports &, settlements – Budget as a tool of cost control

Who Should Attend

Accountants on level of section heads, dept heads and Assistant Gen. Managers. It is a must for those who are working in cost accounting Depts. of Projects, Operations and Exploration. It is well known that engineers who are working in oil and gas industry should have the accounting conscious.

Duration

Budget Forecasting and Planning Process

F7

Budget Forecasting and Planning Process

Course objective

The course included an overview to the company business plan – mission, vision, goals & strategies – as a preliminary required step to budget preparation in addition to adequate illustrations to the nature of budget in joint venture companies specifically. Scientific principles as a basis for effective budgeting are covered together with an introduction to the responsibility accounting and its relationship with budget preparation. The course contains the cost estimating methods / tools used for better budgeting and how to Prepare master budget thru three main modules, operating, capital & stock turnover budgeting.

Course Content

– Special characteristics of oil & gas industry – Financial accounting system in Petroleum Sector – Budgets – Definitions, Types, Principles & Objectives – Cost estimates Methods – Actual Cost, Standard Costs & Breakeven Analysis – Capital budget – Exploration & Development – Operating budget – Production, Direct exp., Administration exp. & General services budget – Budget feed back reporting system & performance evaluation

Who Should Attend

Accountants from Financial Depts, technical personnel are dealing with budget preparation

Duration

Petroleum Finance and Accounting Principles

F8

Petroleum Finance and Accounting Principles

Course objective

Understanding the accounting standards historical development, modifications, up dates and structures.

Course Content

– Accounting Standards – Income Statement, Balance Sheet and Statement of Cash Flows Systems – Cash and Receivables, Acquisition and Disposition of Property – Depreciation, Impairments and Depletion, Intangible Assets, Current Liabilities and Contingencies and Stockholders’ Equity – Revenue Recognition, Accounting for Leases and Accounting Changes and Error Analysis and Statement of Cash Flows

Who Should Attend

Accountants, auditors who wish to acquire an understanding of the accounting standards, any Staff (Technical, Commercial, Financial, etc) whose work impacts directly on financial statements.

Duration

Petroleum Finance for Non – Financials

F9

Petroleum Finance for Non – Financials

Course objective

Participants will acquire an Understanding of the Fundamentals of financial management principles, standards and statement of accounts. Develop Practical Experience of How to take operational and investment decisions based on the financial management Data, Develop and enhance the Financial Skills and capabilities

Course Content

– Fundamental of financial management – Financial management reports – Financial management as a base for decision making – Course Summary/Checklists – Financial Skills; Further Development – Open Forum

Who Should Attend

Senior Business Executives, Strategic and Business Development Planners and non-financial Managers who wish to refresh their understanding and enhance their Skills in managing and improving their financial management skills. Any Staff (Technical, Commercial, operational, etc) whose work impacts directly on the financial management, who need to acquire and improve their Competencies for their current work and/or for their career development

Duration

Petroleum Accounting Best Practice

F10

Petroleum Accounting Best Practice

Course objective

Work on a team to establish the financial best practices that relevant to work practices. Sharing the world wide financial best practices. Analyzing the financial best practices to select the best among them. Plan the right way to implement the best out of the best..

Course Content

– Introduction and Accounts Payable Best Practices – Budgeting Best Practices – Cash Management Best Practices – Costing Best Practices – Finance Best Practices – Financial Statements Best Practices – General Ledger Best Practices – Internal Auditing Best Practices – Inventory Best Practices – Payroll Best Practices – Summary of Best Practices – Excel financial modeling; Further Development

Who Should Attend

Accountants, auditors and engineers who wish to acquire an understanding of the financial best practices modules. Any Staff (Technical, Commercial, Financial, etc); whose work impacts directly on financial subjects.

Duration

Internal Audit Process

F14

Internal Audit Process

Course objective

To enhance the participant’s knowledge, skills, and ability in the field of auditing. By the end of the proposed program, the participants will be able to: Introduce modern practices of auditing and review the organizational and legal aspects of the process. Presented the main aspects of the development in the auditing activity. Develop the efficiency of the professional performance of the internal auditor. Change the traditional view of the Department of Internal Audit in companies. Establishing good relations with other departments.

Course Content

– Definition of activity. – Professional performance of internal auditing. – Internal audit objectives. – Stages of the development activity. – Business plan. – Examination and auditing. – Presentation and discussion of the auditing reports. – Follow up the recommendations. – Special assignments. – The organizational chart of the internal audit department.

Who Should Attend

Auditors and Middle management level who are worked in the department

Duration

Financing Petroleum Projects – Basic

F15

Financing Petroleum Projects – Basic

Course objective

The course objective is to enhance the participants’ knowledge, skills, and attitudes necessary for understanding and sharing the knowledge of the petroleum capital raising, to deepen the participants expertise in the governing factors of the project finance.

Course Content

– Introduction to petroleum Project life cycle – Introduction to petroleum Project finance – Introduction to cash flow analysis – Introduction to capital budgeting and time value of money – Introduction to project valuation methods and credit rating

Who Should Attend

All employees whom their job directly related to the project design and constructing and project finance or they build their career knowledge for future development PROGRAM requirement: Every Participant or some of them should bring his laptop.

Duration

Financing Petroleum Projects – Advanced

F16

Financing Petroleum Projects – Advanced

Course objective

The course objective is to enhance the participants’ knowledge, skills, and attitudes necessary for understanding and sharing the knowledge of the petroleum capital raising, to deepen the participants expertise in the governing factors of the project finance.

Course Content

– How to Value Bonds and Stocks – Some Alternative Investment Rules – Strategy and Analysis Using NPV – Capital Market Theory: An Overview – Project finance contracts and escrow agreement

Who Should Attend

Participant who attend the basic course or who have background about financing methods PROGRAM requirement: Every Participant or some of them should bring his laptop.

Duration

Managerial Accounting and Decision Making for Petroleum Corporate

F19

Managerial Accounting and Decision Making for Petroleum Corporate

Course objective

Acquire an Understanding of the Fundamentals of Managerial Accounting principles, standards and Decision Making in Petroleum Company. • Develop Practical Experience of How to take operational and investment decisions based on the Managerial accounting report , Develop and enhance the Petroleum accounting Skills and capabilities.

Course Content

– Introduction to Petroleum Sector Industry. – The Purpose of Corporation. – Fundamental of Managerial Accounting – Managerial Accounting and Decision Making. – Cost-Volume-Profit Analysis – Profit Planning, Activity-Based Budgeting. – Standard Costing, Operational Performance Measures. – Petroleum Cases Study.

Who Should Attend

• Senior Business Executives, Strategic and Business Development Planners and non-financial Managers • Any Staff (Technical, Commercial, operational, etc).

Duration

Financial Economics Evaluation and Feasibility Study for Petroleum Projects

F21

Financial Economics Evaluation and Feasibility Study for Petroleum Projects

Course objective

At the end of the course attendants will be able to participate & prepare financial and economic feasibility studies. Also, they will be able to realize fields of economic evaluation, types of studies related to feasibility studies, feasibility studies models and sensitivity analysis.

Course Content

– Introduction to Economics – Some fields of economic evaluation applications – Main objective of feasibility study – Types of studies related to financial & economic feasibility studies – Feasibility study models: – Pay back period. – Internal rate of return (I.R.R.) – Net present value (N.P.V.) – Practical case for a new project feasibility study & sensitivity analysis. – Workshop for a new case study.

Who Should Attend

Engineers and chemists at least 5 years experience. • Economists and accountants at least 7 years experience. • Good command of Microsoft Excel & English is required. • The number of attendees must not be more than 10 students.

Duration

Petroleum Investment Management

F24

Petroleum Investment Management

Course objective

The course objective is to enhance the participants’ knowledge, skills, and attitudes necessary for understanding and sharing the knowledge of the petroleum investment management. To deepen the participants expertise in the governing factors of the investment management

Course Content

Attractive environment factors in the petroleum sector. – Rules and regulations of investment in the petroleum sectors. – Organization of the investment procedures. – Investor’s legal and financial guaranty. – Organizing and offering investment opportunities. – Ideal Investment contracts in the petroleum sector.

Who Should Attend

The program is designed for the top management level, decision makers and strategic and planning departments.

Duration

Business Financial & Accounting Skills

F32

Business Financial & Accounting Skills

Course objective

The course objective is to enhance the participants’ knowledge, skills, and attitudes necessary for understanding and sharing the knowledge of the Business Financial & Accounting Skills, to deepen the participants’ expertise in the practical Cases study.

Course Content

Module I: Introduction to Petroleum Sector Industry. – Module II: Introduction to Egyptian petroleum Corporation. – Module III: The Cash Budget. – Module IV: The Break-even Analysis. – Module V: Time value of money. – Module VI: The Value. – Module VII: The Basic Financial Statement. – Module VIII: Financial Ratio. – FINAL SESSION • Program Summary • the Business Financial & Accounting Skills; Further Development.

Who Should Attend

For the Business Financial & Accounting Skills course, all employee whom their job directly related to Business Financial & Accounting or they build their career knowledge for future development.

Duration

Effective Procurement Management

F33

Effective Procurement Management

Course objective

At the end of the training, the participants would be better able to: • Prepare long-, medium- and short-term procurement strategic & operational plans • Develop procurement organization capable of implementing the procurement strategy • Lead and manage the implementation of the procurement strategies and plans

Course Content

– Purchasing Planning – Supplier Selection – Tendering – Legal Issues – Purchasing Performance

Who Should Attend

This program is for all buyers, employees, agents, directors, managers dealing with procurement process either Materials purchase or Services contracts.

Duration

Petroleum Finance and Accounting Principles – PFA

F34

Petroleum Finance and Accounting Principles – PFA

Course objective

You will learn how to: • Apply basic concepts and terminology for accounting and finance in oil and gas • Create accounting statements, from data accumulation to audited financial statements • Distinguish between financial, managerial, and contract accounting • Recognize the different oil and gas accounting methods • Understand financial reporting requirements for oil and gas companies under IFRS, U.K. and U.S. GAAP • Apply capitalization rules and depreciation methods • Recognize accounting treatments of joint ventures such as Production Sharing Agreements • Evaluate a ceiling-test • Read and interpret those confusing footnotes • Understand Sarbanes-Oxley requirements and how they affect you.

Course Content

• Getting started: Financial terms and definitions, the language of business; Accounting rules, standards and policies • Constructing the basic financial statements • Classifying assets and liabilities • Comparing different accounting elements • Accounting for joint operations • Accounting and reporting • The latest issues: The role of International Financial Reporting Standards (IFRS) in today’s environment, IFRS 6; COPAS and SORP involvement; intangible drilling costs and their treatment; minority investments, Present Value 10 construction; Standardized Measure of Oil and Gas (SMOG) disclosures (FAS 69 and FRS 3) • Comparative Analysis of Financial Statements.

Who Should Attend

• Personnel new to the oil and gas accounting industry, others desiring to understand or refresh their knowledge of basic petroleum accounting concepts, financial personnel needing to understand unique issues as they relate to the petroleum industry and technical people looking for the basic concepts of accounting and finance. Participants are encouraged to bring their company’s financial reports. This course may qualify for up to 34 hours of CPE for US CPAs.

Duration

Strategic Finance and Accounting for Oil and Gas Companies

F35

Strategic Finance and Accounting for Oil and Gas Companies

Course objective

This highly practical programmed will help you to increase your understanding of the use of accounting and finance in the business context. By the end of the programmed, you will be able to communicate effectively and confidently on financial matters within your organization. You will: • Develop your skills in analyzing and interpreting financial and accounting information, particularly in the context of the organization’s strategy, its competitors and its industry • Be better at decision making, both on day-to-day matters and investment decisions • Increase your ability to communicate effectively with company accountants • Understand how and why value is created by businesses.

Course Content

• Intro to Management Accounting and Control • Review of Traditional Cost Management Systems • Strategic Cost Allocation Systems (ABC) • Customer Profitability Analysis • Decision Making • Cost information for Pricing and Product Planning • Value Chain and Strategic Cost Manag. • Target Costing • Life Cycle Costing • The Nature of Management Control Systems and Control Environment • Responsibility Centers: Revenue and Expense Centers Profit Centers and Transfer Pricing • Measuring & Controlling Assets Employed – ROI and EVA • Budget as a Control Tool • Performance Measurement • Balanced Scorecard • Management Compensation: EVA • Control for Differentiated Strategies • Risk Management and Internal Control • Managing and Controlling Strategic Risk • Cases Study.

Who Should Attend

Functional managers and directors with budgetary responsibility, who have little or no financial or accountancy training, and need to improve their knowledge to manage their business areas more effectively.

Duration

Fundamentals of Economics for Egyptian Industry of Petroleum, Gas and Petrochemical

F36

Fundamentals of Economics for Egyptian Industry of Petroleum, Gas and Petrochemical

Course objective

• Acquire an Understanding of the Fundamentals of Economics for Egyptian Industry of Petroleum. • Develop Practical Experience of How to Economic & Financial Risk Management and enhance the Risk Management Capabilities

Course Content

– Module I: Introduction to Egyptian petroleum Corporation. – Module II: The development of economies of the Petroleum industry – Module III: The economies of Petroleum projects. – Module IV: The Petroleum the Economy Added. (Practical cases) – Module V: Economic & Financial Risk Management. (Practical cases) – FINAL SESSION: • Course Summary/Checklists • Enhance the Economic & Financial Risk Management for Petroleum Corporate Skills; Further Development • Open Forum • Course Review

Who Should Attend

• Senior Business Executives, Strategic and Business Development Planners and financial Managers who wish to refresh their understanding and enhance their Skills in Economic & Financial Risk Management. • Any Staff (Technical, Commercial, operational, etc) whose work impacts directly on the Economic & Financial Risk Management for Petroleum Corporate , who need to acquire and improve their Competencies for their current work and/or for their career development

Duration

Computer Using for Petroleum Corporate Financial Planning and Financial Analysis

F38

Computer Using for Petroleum Corporate Financial Planning and Financial Analysis

Course objective

• Acquire an Understanding of the Fundamentals of Computer Using for Petroleum Corporate Financial Planning and Financial Analysis. • Develop Practical Experience of How to Financial Planning and enhance the Petroleum Corporate Financial Analysis Capabilities.

Course Content

Module I: Introduction to Egyptian petroleum Corporation. – Module II: Financial plan (Budgeting Long & Short term ) – Module III: Computer Using in Budget Models (Case study) – Module IV: Financial Reporting – Module V: Financial Analysis – Module VI: Computer using in Financial Analysis (Case study) – FINAL SESSION • Course Summary/Checklists • Enhance the Petroleum Corporate Financial Planning and Financial Analysis Skills; Further Development • Open Forum • Course Review

Who Should Attend

• Senior Business Executives, Strategic and Business Development Planners and non-financial Managers who wish to refresh their understanding and enhance their Computer Skills in Financial Planning and Financial Analysis. • Any Staff (Technical, Commercial, operational, etc) whose work impacts directly on the Financial Planning and Financial Analysis , who need to acquire and improve their Competencies for their current work and/or for their career development

Duration

Cash Management for Petroleum Corporate

F39

Cash Management for Petroleum Corporate

Course objective

• Acquire an Understanding of the Fundamentals of Cash Management and standards in Petroleum Company. • Develop Practical Experience of How to Cash Management decisions , Develop and enhance the Petroleum Accounting and Economist Skills and capabilities

Course Content

– Module I: Introduction to Egyptian Petroleum Corporation. – Module II: Working Capital & Cash – Module III: Cash Planning (Budgeting Short term). – Module IV: Cash Management – Module V: Cash Management & Evaluation – FINAL SESSION: • Course Summary/Checklists • Cash Management Skills; Further Development • Open Forum • Course Review

Who Should Attend

• Senior Business Executives, Strategic and Business Development Planners and non-financial Managers who wish to refresh their understanding and enhance their Skills in managing and improving their valuation corporate skills. • Any Staff (Technical, Commercial, operational, etc) whose work impacts directly on the Cash Management , who need to acquire and improve their Competencies for their current work and/or for their career development

Duration

Financial Statement and Evaluation of Financial Performance for Petroleum Corporate

F40

Financial Statement and Evaluation of Financial Performance for Petroleum Corporate

Course objective

• Acquire an Understanding of the Fundamentals of Preparation of The Financial Statement and Evaluation of Financial Performance for Petroleum Corporate. • Develop Practical Experience of How to Preparation of The Financial Statement and enhance the Petroleum Corporate Financial Analysis and Evaluation Capabilities

Course Content

• Module I: Introduction to Egyptian petroleum Corporation • Module II: Preparation of the Financial Reporting • Module III: Financial Reporting • Module IV: Financial Analysis and Evaluation of Financial Performance • Module V: Financial Rates (Practical Cases) • Module VI: Computer using in Financial Analysis. (Case Study)

Who Should Attend

• Senior Business Executives, Strategic and Business Development Planners and financial Managers who wish to refresh their understanding and enhance their Preparation of The Financial Statement Skills in Financial Analysis and Evaluation. • Any Staff (Technical, Commercial, operational, etc) whose work impacts directly on the Financial Analysis and Evaluation , who need to acquire and improve their Competencies for their current work and/or for their career development

Duration

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