Participants can enroll in either module independently; however, attending both modules offers a holistic perspective on upstream financial management and decision-making strategies. This structured learning approach ensures that professionals are equipped to evaluate capital investments, manage financial risks, and align business strategies with global industry standards. Key highlights of the training include: Gain industry-relevant economic insights to evaluate upstream investments effectively. Learn risk assessment methodologies to mitigate uncertainties in exploration and production projects. Understand petroleum fiscal regimes and their impact on investment decisions. Explore financial reporting best practices aligned with IFRS and regulatory requirements. Enhance decision-making with economic modeling and scenario-based evaluations. Develop skills to optimize upstream asset performance and profitability. Leverage benchmarking techniques to improve financial reporting and transparency. With an industry-driven curriculum, Pideya Learning Academy ensures that this training provides practical insights and analytical tools essential for financial and strategic decision-making in the upstream oil and gas sector. Whether you are an engineer, financial analyst, project manager, or government regulator, this course empowers you with proven methodologies and expert knowledge to drive project success and maximize economic returns in oil and gas operations. Course Objectives After completing this Pideya Learning Academy training, participants will: Master key economic terms and principles relevant to the oil and gas industry. Develop and apply economic models for various petroleum fiscal regimes. Evaluate and quantify risks and uncertainties in upstream projects. Perform comprehensive economic evaluations for petroleum projects, including sensitivity analyses. Contribute to informed decision-making for petroleum-related projects. Understand accounting standards and auditing practices specific to upstream petroleum companies. Enhance the reliability and relevance of financial reports for stakeholders. Utilize publicly available information to benchmark business performance effectively. Training Methodology At Pideya Learning Academy, our training methodology is designed to create an engaging and impactful learning experience that empowers participants with the knowledge and confidence to excel in their professional roles. Our approach combines dynamic instructional techniques with interactive learning strategies to maximize knowledge retention and application. Key elements of the training methodology include: Engaging Multimedia Presentations: Visually rich presentations with audio-visual elements to simplify complex concepts and ensure clarity. Interactive Group Discussions: Participants engage in thought-provoking discussions, sharing insights and perspectives to enhance understanding and collaboration. Scenario-Based Learning: Real-world scenarios are introduced to contextualize theoretical knowledge, enabling participants to relate it to their work environment. Collaborative Activities: Team-based exercises encourage problem-solving, critical thinking, and the exchange of innovative ideas. Expert Facilitation: Experienced trainers provide in-depth explanations, guiding participants through intricate topics with clarity and precision. Reflective Learning: Participants are encouraged to reflect on key takeaways and explore ways to incorporate newly acquired knowledge into their professional practices. Structured Learning Pathway: The course follows a "Discover-Reflect-Implement" structure, ensuring a systematic progression through topics while reinforcing key concepts at every stage. This dynamic methodology fosters a stimulating environment that keeps participants engaged, encourages active participation, and ensures that the concepts are firmly understood and can be effectively utilized in their professional endeavors. With a focus on fostering a deeper connection between learning and application, Pideya Learning Academy empowers participants to unlock their potential and drive impactful outcomes in their roles. Organizational Benefits Organizations will benefit significantly from sending participants to this training: Improved application of economic valuation and risk assessment in upstream projects. Enhanced identification and analysis of risks in petroleum-related activities. Development of effective financial strategies aligned with project objectives. Greater accuracy and reliability in financial reporting and management information. Insights into optimizing oil and gas field developments for profitability. Personal Benefits Participants will gain: Proficiency in constructing project cashflow models. Decision-making techniques to address risks and uncertainties effectively. Deep understanding of influential parameters in oil and gas field development plans. Greater confidence and motivation through industry-relevant insights and practices. Enhanced job satisfaction and career advancement opportunities. Who Should Attend? This Pideya Learning Academy training course is suitable for professionals across various disciplines in the oil and gas sector, including: Oil & Gas Field Engineers and Managers Auditors and Planners in Oil & Gas Financial Analysts and Corporate Accountants Project Management Professionals Treasury Officers and Joint Venture Accountants Government Regulators and Auditors Whether you are directly involved in engineering, finance, or project management within the upstream sector, this course provides valuable insights and skills to excel in your role and contribute to organizational success.

Introduction to Economic Terminology Structuring Cashflow Models Depreciation Calculation Techniques Loss Carryforward Strategies Adjusting for Inflation in Economic Models Understanding Nominal vs. Real Cashflows Identifying and Accounting for Sunk Costs Project Financing Mechanisms and Strategies

Overview of Key Economic Indicators Present Value Concepts and Applications Discount Factor Calculation and Usage Net Present Value (NPV) Methodology Internal Rate of Return (IRR) Computation Project Delay Impact on Financial Returns Payback Period Analysis Profitability Ratios in Investment (e.g., P/I Ratio) Assessing Incremental Investments

Risk vs. Uncertainty in Project Economics Calculating Expected Value Decision Tree Frameworks for Investment Decisions Farm-Out Decision Modeling Conducting Probability Analyses Sensitivity Analysis for Economic Variables Probability Distribution Techniques Implementing Monte Carlo Simulation for Risk Modeling

Fundamentals of Spreadsheet-Based Economic Modeling Constructing Basic Cashflow Models in Excel NPV Calculations Using Spreadsheet Tools Integrating Economic Indicators into Models Collaborative Discussions and Problem-Solving Exercises

Building an Integrated Economic Model for Oilfield Projects Performing Sensitivity Analysis on Development Models Introduction to Advanced Field Models (e.g., Russell Field Model) Scenario Analysis and Financial Optimization

Latest Trends in Accounting and Auditing Practices Impact of Commodity Prices and Currency Fluctuations Evaluating Strategic Growth through Financial Analysis Analyzing Annual Reports of Leading Petroleum Companies Overview of IFRS Standards in Upstream Oil & Gas Auditing Roles and Functions in the Industry

Revenue Recognition Standards (e.g., IFRS 15) Cost Management in Exploration and Development Phases IFRS 6 Applications in Mineral Asset Valuation Methods of Accounting: Successful Efforts (SE) vs. Full Cost (FC) Calculating Break-Even Oil, Cost Oil, and Profit Oil Profitability Evaluation of International Oil & Gas Firms

Reserves and Resource Accounting Principles Property, Plant, and Equipment (IAS 16) Accounting Depletion, Depreciation, and Amortization (DD&A) Techniques Asset Impairment (IAS 36) Evaluations Provisions, Contingent Liabilities, and Financial Instruments (IAS 37-39) Assessing Asset and Reserve Valuations of Petroleum Companies

Principles of Creative Accounting and Their Implications Corporate Governance Frameworks in Petroleum Firms Analysis of Published Financial Statements Role of Boards and Audit Committees in Oversight External Auditing Standards for Investor Reporting Internal Audit Functions and Process Development

Defining Roles and Responsibilities within Internal Audit Teams Exploring Various Types of Audits in Petroleum Operations Planning and Executing Internal Audit Examinations Implementing Controls and Substantive Testing Methods Reporting Audit Findings to Stakeholders Conducting Exit Conference Meetings and Post-Audit Reviews