Study on budget management system based on AFE and Cash Call in overseas petroleum project

Author

Li-wang, Liu ; Jin-lan, Liu

Author_Institution

Sch. of Manage., Tianjin Univ., Tianjin, China

Volume

2

fYear

2012

fDate

20-21 Oct. 2012

Firstpage

330

Lastpage

334

Abstract

The situation that Chinese oil companies fully participate in overseas oil and gas competence is taking shape, accompanying with increasing risks. An annual budgeting execution and control system for overseas projects is designed, which includes AFE, Cash Call, LOA, budget adjustment, budget analysis, purchase control, project management, ERP system control and audit, based on summarizing and analyzing the budget system and mechanism, budget content frames of overseas petroleum projects. And these systems and management can guarantee the full implementation of the petroleum contracts, and ensure daily production management to meet the company strategy planning, and realize the strategic goals and the life cycle budget goals year by year.

Keywords

auditing; budgeting; contracts; enterprise resource planning; gas industry; international finance; petroleum industry; production management; project management; strategic planning; AFE; Chinese oil companies; ERP system control; LOA; annual budgeting execution; auditing; budget adjustment; budget analysis; budget management system; cash call; company strategy planning; daily production management; life cycle budget goals; overseas oil and gas competence; overseas petroleum project; petroleum contracts; project management; purchase control; strategic goals; Companies; Contracts; Control systems; Investments; Joints; Petroleum; Production; AFE; Cash Call; Overseas petroleum project; budget management;

fLanguage

English

Publisher

ieee

Conference_Titel

System Science, Engineering Design and Manufacturing Informatization (ICSEM), 2012 3rd International Conference on

Conference_Location

Chengdu

Print_ISBN

978-1-4673-0914-1

Type

conf

DOI

10.1109/ICSSEM.2012.6340876

Filename

6340876