National Oil Company Sees Step Change in Financial Skills

Oil and Gas featuredThe Challenge: A Sub-Saharan National Oil Company approached Warren Business Consulting to assist with the development of oil and gas financial auditing skills of local officials. The audit department was newly established and many of the participants were new to oil and gas auditing. Most of the participants had backgrounds in finance and accounting with a few from the technical function. The oil and gas industry in the country was about to embark on a significant period of growth, and it was clear that it was not enough just to develop technical expertise in exploration, drilling & production: functions such as auditing needed to have the right expertise to provide support to the whole business as it grew.

Approach

FOUR KEY STEPS WERE TAKEN:

1. Liaised with the client to understand the opportunity and client specific needs.

2. Proposed a specific training programme to introduce the client’s professionals to the established E&P financial auditing method.

3. The client’s most pressing challenges were built into the programme.

4. Brought in a WBC subject matter expert according to the client’s needs.

5. Designed, developed and delivered a specific training course at the client’s location.

Benefits

BY APPLYING THE COURSE CONCEPTS AND TECHNIQUES:

1. The participants learnt how to apply concepts and knowledge successfully used by oil and gas auditing professionals around the world.

2. The National Oil Company gained efficiency and productivity improvements, and developed a more motivated and effective staff.

3. The role of government in oil and gas was clarified, giving delegates a better appreciation of their own role.

4. Knowledge and understanding of E&P increased across the NOC, beyond the technical teams.

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