Future University In Egypt (FUE)
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Course List

Humanities/Social Science Elective

  • Course Code :
    HUM HX
  • Level :
    Undergraduate
  • Course Hours :
    2.00 Hours
  • Department :
    Department of Petroleum Engineering

Instructor information :

Area of Study :

The Main Goals of this course are: a. Demonstrating the different types of petroleum agreements and companies and how to dial with different types of cost related to petroleum exploration , developments and production b. Discussing differences between successful efforts and full cost methods Identifying and accounting for mineral interests (i.e. royalty, working interest, overriding royalty interest, etc.) d. Discussing differences of DD&A rules under successful efforts and full cost e. Reviewing alternative methods of accounting for exploration and production companies

For further information :

Humanities/Social Science Elective

For further information :

Humanities/Social Science Elective

Course outcomes:

a. Knowledge and Understanding:

1- Explain different types of petroleum agreements and contracts
2- Differentiate between successful efforts and full cost for exploration and drilling accounting
3- Recognize how to dial with the cost during exploration and development period
4- Distinguish between capital expenditures ( CPEX) and operating expenditure ( OPEX )
5- Distinguish between different types of cost ( variable cost – fixed cost- direct cost – indirect cost )
6- Illustrate ( A.F.E ) for well and project.
7- Describe basic Depreciation, Depletion & Amortization Formula

b. Intellectual Skills:

1- Interpret different types of petroleum contracts and agreements applied between the host countries and international exploration companies and the main features of each types of this agreements
2- Know the accounting terminology and main books and accounting cycle in petroleum companies
3- Know the main activities and main cost in each stage of petroleum activates ( exploration – development – operating and production )
4- Know the accounting process under full cost and successful effort
5- Abel to preparing AFE for drilling well or project
6- Abel to Estimate the production cost per barrel, per cubic meter of gas and drilling cost per feet - ……ect.
7- Ability to participate in the estimation of capital budget and operational budget for petroleum activities
8- Abel to allocate the joint cost on joint products (oil – gas – Condensates)

c. Professional and Practical Skills:

1- Prepare AFE for drill well or project
2- Abel to estimate the cost of capital and operational budget and analysis the variance between estimated and actual cost
3- Abel to distribute and re-allocate joint cost on joint products
4- Abel to calculate the production cost per barrel for oil and cubic meter of gas

d. General and Transferable Skills:

1- Abel to A.F.E for will or project
2- Able to participate in budgeting process
3- Abel to estimated cost for different product in oil and gas filed ( cost per barrel – cost per cubic meter of gas – cost per feed for drilling – cost per square meter for exploration

For further information :

Humanities/Social Science Elective

Course topics and contents:

Topic No. of hours Lecture Tutorial/Practical
petroleum contracts and agreements 4 4
the basic of accounting principal 4 4
accounting for exploration companies 2 2
accounting for production companies 2 2
the destination between operating expanses ( opex ) and capital expanses ( capx ) 2 2
A.F.E and estimated drilling cost 2 2
cost accounting in petroleum companies 4 4
accounting for Depreciation, Impairments, and Depletion 2 2
Budgeting ( capital budget- operational budget ) 4 4

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Humanities/Social Science Elective

Teaching And Learning Methodologies:

Teaching and learning methods
Lectures.
Tutorials

For further information :

Humanities/Social Science Elective

Course Assessment :

Methods of assessment Relative weight % Week No. Assess What
Final exam 40.00
Mid-Term exams 50.00
Participations 10.00

For further information :

Humanities/Social Science Elective

Books:

Book Author Publisher

Recommended books :

Petroleum Accounting- Principles, Procedures & Issues -5th Edition- by Dennis R. Jennings (University of North Texas)

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