Certificate in Oil & Gas Financial Management, Accounting & Reporting
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Program Professional Framework
Certificate in Oil & Gas Financial Management, Accounting & Reporting
Program Overview
Oil and gas companies face distinctive financial challenges: long project lead times, high capital intensity, volatile commodity prices, complex joint arrangements and significant decommissioning obligations. This programme covers the specialised financial management, accounting and reporting practices of the upstream, midstream and downstream sectors. Participants examine exploration and evaluation accounting under IFRS 6, successful efforts and full cost approaches, joint operating agreements and IFRS 11, production sharing and concession arrangements, reserves classification under SPE-PRMS, depletion, impairment under IAS 36, decommissioning provisions under IAS 37, and capital project economics. The context reflects national oil companies and their partners across the Gulf.
Learning Outcomes
- ✓Account for exploration and evaluation expenditure under IFRS 6 using successful efforts and full cost approaches.
- ✓Record joint venture transactions and partner billings under a joint operating agreement and IFRS 11.
- ✓Calculate depletion using the units-of-production method based on reserves estimates.
- ✓Measure a decommissioning provision under IAS 37 and its unwinding over time.
- ✓Evaluate an upstream investment using NPV and break-even oil price analysis.
- ✓Prepare segment and reserves-related disclosures for an oil and gas entity.
Target Audience
- Accountants and financial controllers in oil and gas companies
- Joint venture and partner accounting staff
- Finance managers in national oil companies and service providers
- Auditors and analysts covering the energy sector
Detailed Program Modules
01Oil and Gas Industry and Financial Environment
- Upstream, midstream and downstream value chain
- Fiscal regimes: concessions and production sharing
- Commodity price risk and its financial impact
02Exploration, Evaluation and Development Accounting
- IFRS 6 exploration and evaluation
- Successful efforts versus full cost
- Transfer to development and production assets
03Joint Arrangements and Partner Accounting
- Joint operating agreements and operator roles
- IFRS 11 joint operations and joint ventures
- Cash calls, partner billing and audits
04Reserves, Depletion and Impairment
- SPE-PRMS reserves classification
- Units-of-production depletion
- IAS 36 impairment and price assumptions
05Decommissioning and Long-Term Obligations
- IAS 37 decommissioning provisions
- Discounting and unwinding
- Environmental and restoration obligations
06Financial Management and Reporting
- Capital project economics and break-even prices
- Lifting imbalances and revenue recognition
- Segment reporting and investor disclosures
Training Methodology
Applied Project & Assessment
Applied Project
Participants complete an accounting and financial case for a Gulf upstream joint operation: recording exploration costs, partner billings and depletion, measuring a decommissioning provision, testing an asset for impairment at a lower oil price and evaluating a development project's NPV and break-even price.
Assessment
Short diagnostic at the start, practical tasks linked to each learning outcome, and evaluation of the applied project against published criteria.