Exploration and Production Accounting

About the course

Making the most efficient use of your resources is critical to the success of any company. Finance and accounting comprise the universal business language and help you manage those resources effectively. Planning and decision making that occur in an informal financial context permit better application of resources and promote competitive advantage.

Designed For

Finance and accounting personnel with a solid foundation of accounting skills, a detailed knowledge in upstream oil and gas activities, and who wish to expand their knowledge to cover all aspects of upstream activities.
The course will also benefit financial professionals who require a better understanding and awareness of the key issues to be considered in upstream oil and gas accounting and finance.

Course Objectives

• Upon completion, you will know how to:
• Select accounting policies for the various activities that are introduced in the different scenarios.
• Carry out the calculations for depreciation, decommissioning, impairment, and carried interest, enter into a Production Sharing Contract (PSC).
• Prepare a Profit & Loss (P&L) account, balance sheet, and cash flow statement give a scenario.
• Analyse an accounts and make a presentation to the class on the final day of the program, highlighting the performance and financial status of the account analysed.