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Institute For Oil & Gas Training
OGI-1186 New

Cash Calls, AFEs & Work Program/Budget Control: Preparation Training Course

Duration
5 days
CPD hours
15
Language
English
Next date
12 Oct 2026
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Overview

The Cash Calls, AFES & Work Program/Budget Control Training Course from Institute For Oil & Gas Training develops the commercial, financial and operational controls required to manage joint venture funding, authorisations for expenditure and approved work programmes. Cash Calls, AFES & Work Program/Budget Control are central to disciplined petroleum budgeting and cost control because operators and non-operating partners need accurate funding requirements, controlled expenditure and timely reconciliation between approved budgets and actual spend.

Oil and gas joint ventures operate through detailed work programmes, annual budgets, AFEs, partner funding obligations and contractual accounting procedures. Weak control across these activities creates exposure to funding shortfall, unplanned expenditure, delayed approvals, inaccurate partner balances and disputes over whether costs were properly authorised. Strong cash call preparation connects operational plans with financial requirements and gives operators a structured basis for requesting, receiving, allocating and reconciling partner funds.

Institute For Oil & Gas Training designed this course around the practical controls used to prepare and manage cash calls, AFEs and work programme budgets across upstream oil and gas operations. Participants examine how expenditure forecasts are translated into funding requirements, how monthly cash call schedule development supports liquidity planning, and how supplemental and adjustment cash calls are controlled when approved plans change.

The course addresses the relationship between approved AFEs, work programme commitments, procurement activity, contractor expenditure, operating costs and partner funding. It also examines cash call reconciliation to actual spend, enabling participants to identify variances, investigate funding differences and maintain a clear audit trail from approved expenditure through to actual costs.

A key focus is the operator cash management obligations associated with joint venture operations. Participants develop a practical understanding of how funding requests are supported, how cash requirements are forecast and how partner contributions are monitored. The course also addresses funding shortfall situations, late payment and interest provisions, partner default remedies and the financial controls required when a partner does not meet its contractual funding obligation.

The course reflects the operational environment of exploration, development, production and asset management activities where expenditure is subject to changing field conditions, procurement commitments, contractor invoices and approved work programmes. It provides a structured approach to connecting operational decisions with financial governance rather than treating budgeting, AFEs and cash calls as separate processes.

Participants work through realistic oil and gas scenarios involving annual budget preparation, expenditure authorisation, cash call forecasting, partner funding, budget amendments and actual cost reconciliation. The emphasis remains on practical application, control discipline and decision-quality financial information.

For organisations, effective control of these processes strengthens visibility over joint venture expenditure and improves the connection between approved programmes and available funding. For finance, accounting, commercial, procurement and asset teams, it establishes a common understanding of how expenditure approvals and funding requirements interact.

Institute For Oil & Gas Training also addresses the practical challenge of managing changes during an operating period. Revised field activity, emergency expenditure, procurement delays, cost escalation and changes to contractor commitments can affect the original budget. Participants learn how supplemental and adjustment cash calls are prepared and controlled without weakening the underlying governance process.

The course is particularly relevant to organisations seeking stronger petroleum budgeting and cost control practices across operated and non-operated assets. It supports consistent processes for preparing expenditure information, monitoring partner funding and identifying deviations before they become larger commercial or operational issues.

Objectives

  • Apply structured principles for cash call preparation within oil and gas joint venture operations

  • Develop a reliable monthly cash call schedule from approved work programmes and budgets

  • Link AFEs with approved expenditure, procurement commitments and operational activity

  • Establish controls for tracking approved expenditure against actual spend

  • Prepare supplemental and adjustment cash calls when funding requirements change

  • Identify the causes and financial implications of a funding shortfall

  • Apply appropriate controls for late payment and interest provisions

  • Understand contractual approaches to partner default remedies

  • Strengthen operator cash management obligations and funding controls

  • Reconcile cash calls to actual spend and investigate material variances

  • Improve coordination between finance, accounting, operations, procurement and commercial teams

  • Strengthen documentation supporting expenditure approvals and partner funding requests

  • Improve forecasting of cash requirements across operating periods

  • Recognise the relationship between work programme changes and funding requirements

  • Support stronger budget governance across operated and joint venture assets

  • Establish clearer controls for monitoring partner contributions

  • Improve the quality and reliability of management information relating to joint venture expenditure

  • Apply practical controls for maintaining an auditable funding and expenditure trail

Training methodology

Institute For Oil & Gas Training uses a practical corporate delivery approach focused on the decisions and controls encountered in oil and gas operations. The course combines expert-led discussion with case studies, financial exercises, simulations, group analysis and realistic joint venture scenarios.

Participants examine complete cash call cycles rather than isolated accounting activities. A typical exercise starts with an approved work programme and budget, progresses through AFE requirements and expenditure forecasting, develops a monthly cash call schedule and concludes with reconciliation against actual spend.

Case studies focus on common operating situations such as changes to approved work programmes, accelerated procurement, contractor commitments, unexpected operating expenditure and partner funding delays. Participants assess the financial effect of these situations and determine the appropriate control response.

Simulation exercises place participants in the role of operator finance, joint venture accounting, asset management and partner representatives. These exercises demonstrate how information moves between operational and financial teams and how gaps in communication affect funding accuracy and budget control.

Group exercises examine funding shortfall scenarios and partner payment issues. Participants assess contractual requirements, identify outstanding funding and consider appropriate escalation and documentation procedures.

Practical reconciliation exercises develop the ability to compare cash calls with actual expenditure. Participants analyse variances, identify timing differences, distinguish approved from unapproved costs and determine the information required for reliable reporting.

The delivery approach encourages cross-functional discussion because effective cash call management depends on cooperation between finance, accounting, operations, procurement, contracts and commercial teams. The result is a practical learning environment aligned with the responsibilities of corporate oil and gas professionals.

Organisational impact

Effective Cash Calls, AFES & Work Program/Budget Control gives organisations stronger control over the financial resources supporting oil and gas operations. Accurate funding requirements improve visibility over expected cash movements and provide finance teams with a clearer basis for liquidity planning.

The course supports stronger alignment between operational activity and approved expenditure. When work programmes, budgets and AFEs are properly connected, organisations gain clearer visibility of why expenditure is required, who authorised it and how the resulting costs affect partner funding.

Improved cash call preparation reduces the risk of requesting insufficient or unsupported funding. A structured monthly cash call schedule also supports more reliable communication between operators and partners and provides a consistent basis for monitoring expected contributions.

Strong controls around supplemental and adjustment cash calls help organisations respond to changing operational requirements while maintaining financial discipline. Changes are assessed against approved budgets, expenditure requirements and available funding rather than being treated as informal adjustments.

Cash call reconciliation to actual spend provides management with clearer information about the relationship between requested funds and expenditure incurred. This supports timely investigation of variances, strengthens financial reporting and helps identify recurring forecasting or budget control issues.

The course also strengthens the management of partner payment issues. Clear understanding of late payment and interest provisions supports more disciplined follow-up, while knowledge of partner default remedies helps relevant personnel understand the contractual and financial implications of non-payment.

For operators, the focus on operator cash management obligations supports better control over funds received from partners and the expenditure made on their behalf. This improves accountability across the joint venture funding cycle.

The organisation also benefits from stronger cross-functional coordination. Finance teams gain better visibility of operational requirements, while asset and procurement teams gain a clearer understanding of the financial information required to support cash calls and AFEs.

Better documentation and reconciliation practices strengthen internal control and provide a clearer evidence trail for management review, partner reporting and audit activities. The result is a more controlled approach to petroleum budgeting and cost control across joint venture operations.

Personal impact

Participants develop practical capability in one of the most important financial control areas within joint venture oil and gas operations. They gain a clearer understanding of how work programmes, budgets, AFEs, cash calls and actual expenditure connect throughout the operating cycle.

Finance and accounting professionals strengthen their ability to prepare funding requirements, monitor partner contributions and reconcile requested cash with actual expenditure. They also develop greater confidence in investigating variances and explaining funding movements to operational and commercial stakeholders.

Asset and operations professionals gain a stronger understanding of the financial consequences of changes to work programmes and expenditure plans. This supports more effective communication with finance and joint venture accounting teams.

Procurement and contracts professionals improve their understanding of how procurement commitments and contractual expenditure affect AFEs, budgets and cash requirements. This supports better coordination between commercial commitments and financial forecasts.

Participants also develop stronger analytical skills through cash flow exercises, reconciliation activities and funding shortfall scenarios. They learn to distinguish between forecast expenditure, committed expenditure, approved expenditure and actual spend.

The course supports career development by strengthening a practical capability relevant to joint venture accounting, petroleum finance, budgeting, cost control, asset management and commercial operations. Participants leave with a more integrated understanding of the financial controls supporting operated and non-operated assets.

Who should attend

  • Joint Venture Accountants — responsible for partner accounting, cash calls, expenditure reporting and reconciliations.

  • Oil and Gas Finance Professionals — involved in budgeting, cash forecasting, funding requirements and financial control.

  • Petroleum Accountants — requiring stronger capability in AFEs, partner funding and actual cost reconciliation.

  • Budget and Cost Control Professionals — responsible for monitoring expenditure against approved work programmes and budgets.

  • Asset Managers — needing financial control awareness when managing operating programmes and expenditure commitments.

  • Operations Managers — responsible for delivering approved programmes within agreed financial parameters.

  • Joint Venture Managers — coordinating operator and partner responsibilities across work programmes, budgets and funding.

  • Commercial Managers — managing the commercial implications of expenditure, partner obligations and contractual funding provisions.

  • Procurement Professionals — whose purchasing commitments directly affect expenditure forecasts, AFEs and cash requirements.

  • Contracts Professionals — dealing with funding obligations, payment provisions and partner contractual requirements.

  • Financial Controllers — overseeing expenditure governance, reconciliations and management reporting.

  • Treasury Professionals — managing liquidity requirements and the timing of expected partner funding.

  • Internal Control and Audit Professionals — reviewing controls surrounding expenditure authorisation, funding and reconciliation.

  • Senior Finance and Operations Managers — seeking integrated control over petroleum budgeting and joint venture expenditure.

Course outline

This module establishes the relationship between operational work programmes, approved budgets and AFEs. Participants examine how planned activities are translated into controlled expenditure requirements and how AFE information supports subsequent cash call preparation.

  1. COPAS Accounting Procedures

    • Provides recognised accounting procedure principles used in petroleum joint venture arrangements.

    • Supports clearer treatment and documentation of joint venture costs.

    • Provides a framework for understanding expenditure allocation and accounting controls.

    • Helps participants connect approved operating expenditure with joint venture accounting processes.

    Learning Outcomes

    • Connect work programme activities with budget requirements and AFEs.

    • Establish stronger controls over expenditure authorisation.

    • Distinguish approved expenditure from forecast and committed expenditure.

    • Identify information required to support an AFE.

    • Improve the financial control trail from operational planning to expenditure approval.

This module focuses on the practical process of converting approved expenditure requirements into partner funding requests. Participants examine cash call preparation, monthly cash call schedule development and the controls required to ensure funding requests are supported by reliable financial information.

  1. AIPN Model JOA

    • Provides recognised contractual principles for international petroleum joint venture operations.

    • Addresses operator and participating interest owner relationships.

    • Provides relevant contractual context for funding obligations and joint operating arrangements.

    • Helps participants understand how cash call processes operate within a joint venture framework.

    Learning Outcomes

    • Apply a structured process for cash call preparation.

    • Develop a monthly cash call schedule from approved expenditure requirements.

    • Connect partner funding requirements with work programme and budget information.

    • Improve the supporting documentation for cash call requests.

    • Monitor expected partner contributions against funding requirements.

    • Strengthen coordination between joint venture accounting and operational teams.

This module addresses the financial controls required when actual operational requirements differ from the approved plan. Participants examine supplemental and adjustment cash calls, revised expenditure forecasts and responses to funding shortfall situations.

  1. ISO 31000 Risk Management

    • Provides principles for identifying, analysing and managing financial and operational risks.

    • Supports structured assessment of funding and budget risks.

    • Encourages risk-based decision-making and monitoring.

    • Provides a recognised framework for integrating risk management into organisational processes.

    Learning Outcomes

    • Identify the financial consequences of work programme changes.

    • Prepare appropriate responses to revised funding requirements.

    • Distinguish supplemental cash calls from routine funding requirements.

    • Assess the causes and implications of funding shortfall.

    • Strengthen controls around unplanned expenditure.

    • Apply structured risk assessment to cash flow and budget control issues.

This module concentrates on the reconciliation of requested funding against expenditure actually incurred. Participants develop practical techniques for comparing cash calls, accounting records, AFEs, commitments and actual spend while investigating variances and timing differences.

  1. IFRS 9 Financial Instruments

    • Provides requirements relevant to the recognition and measurement of financial assets and liabilities.

    • Provides relevant principles for assessing financial balances and payment-related exposures.

    • Supports disciplined consideration of receivables and contractual financial obligations.

    • Gives finance professionals an established accounting framework for relevant financial instruments.

    Learning Outcomes

    • Reconcile cash calls against actual expenditure.

    • Investigate differences between requested funding and recorded costs.

    • Identify timing, accrual and expenditure classification differences.

    • Improve the quality of budget-to-actual analysis.

    • Strengthen partner balance monitoring.

    • Produce clearer reconciliation evidence for management review.

This module addresses the financial and contractual consequences of delayed partner funding. Participants examine late payment and interest provisions, escalation processes, funding recovery considerations and partner default remedies within the context of joint venture operations.

  1. UNCITRAL Arbitration Rules

    • Provide recognised procedural rules for international commercial arbitration.

    • Offer relevant dispute resolution context for cross-border commercial disagreements.

    • Support structured consideration of contractual disputes where arbitration provisions apply.

    • Help participants understand the importance of contractual documentation and dispute procedures.

    Learning Outcomes

    • Identify the financial impact of delayed partner funding.

    • Apply appropriate controls around overdue cash calls.

    • Understand the role of late payment and interest provisions.

    • Recognise contractual approaches to partner default remedies.

    • Strengthen escalation and documentation procedures.

    • Assess the effect of partner non-payment on operator cash management obligations.

    • Improve communication between finance, commercial and joint venture management teams.

Certificate

Attendees receive a Certificate of Completion from Institute For Oil & Gas Training upon finishing the course.

Participants are required to attend the full course and complete the required programme activities to receive the Certificate of Completion.

Course dates

  • Europe

    Middle East

    Asia

    Africa

    North America

    Online

    Fee: £3,600

  • Europe

    Middle East

    Asia

    Africa

    North America

    Online

    Fee: £3,600

  • Europe

    Middle East

    Asia

    Africa

    North America

    Online

    Fee: £3,600

  • Europe

    Middle East

    Asia

    Africa

    North America

    Online

    Fee: £3,600

Fees include tuition, course materials and refreshments. Need different dates or a different city? Ask about your preferred date.

Frequently asked questions

What does the Cash Calls, AFES & Work Program/Budget Control Training Course cover?

The course covers cash call preparation, AFEs, work programme and budget control, monthly cash call scheduling, supplemental funding, reconciliation to actual spend, partner funding and default controls.

Who is this course designed for?

The course is designed for finance, accounting, budgeting, cost control, treasury, asset management, operations, procurement, contracts and commercial professionals working in oil and gas organisations.

How is the course delivered?

Institute For Oil & Gas Training uses practical case studies, simulations, group exercises, financial analysis activities and realistic oil and gas joint venture scenarios.

Does the course cover partner funding shortfalls?

Yes. Participants examine funding shortfall situations, supplemental and adjustment cash calls, delayed contributions, late payment and interest provisions, and partner default remedies.

What certificate is provided after completing the course?

Attendees receive a Certificate of Completion from Institute For Oil & Gas Training upon finishing the course, subject to attendance for the full programme.

Next: 12 Oct 2026

4 dates available

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