1. NExT
  2. Business Management
  3. Exploration and Production Accounting - Level 2
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    • Average client rating (based on 26 attendee reviews)

Exploration and Production Accounting - Level 2

Level: Skill | Type: Classroom | Discipline: Accounting and Finance

This course provides participants with a thorough, in depth review and examination of international accounting standards and their application in the upstream oil and gas industry.  This will include a review of unique accounting issues that arise in exploration and production activities and best practices for accounting for these.

Participants will learn about Production Sharing Contracts (PSCs), the different aspects that are included in PSCs, and the accounting consequences that can arise.  This course will address joint venture accounting and alternative methods of how joint ventures can be funded. Unitization and redetermination of oil and gas fields will also be covered.

The final part of this course will give participants an awareness of the different approaches that can be used in the preparation of an annual department and corporate budget.  The strategic issues that companies consider in planning their future growth and development will also be discussed. 

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This course is suitable for finance and accounting personnel with a foundational knowledge of upstream oil and gas accounting and 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.

Participants should either have attended the Exploration and Production Accounting - Level 1 course or have a reasonable understanding of oil and gas accounting principles.

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