Finance & Accounting in the Oil & Gas Industry

This course is ideal for:

• Finance & accounting professionals in the energy sector
• Engineers and technical managers needing financial literacy
• Project managers, business analysts, and planners
• Internal auditors and compliance officers
• Oil & gas consultants and commercial managers

Industry Overview & Financial Fundamentals

Structure of the oil & gas industry (upstream/midstream/downstream)
Revenue and cost drivers in E\&P
Introduction to financial statements (Balance Sheet, P\&L, Cash Flow)
CapEx vs OpEx in oil & gas projects

Accounting Standards and Methods

Introduction to IFRS and industry-specific standards
IFRS 6: Exploration for and Evaluation of Mineral Resources
IFRS 15: Revenue Recognition in oil & gas contracts
IFRS 16: Lease accounting (drilling rigs, FPSOs)
Full Cost vs Successful Efforts methods

Budgeting, Forecasting & Cost Control

Budget planning and cost structures
Variance analysis and reporting
OPEX vs CAPEX control
Joint venture accounting (JV & PSC models)
Cost recovery and royalty considerations

Capital Investment Analysis

Economic evaluation of oil & gas projects
Discounted cash flow (DCF), NPV, IRR, and payback period
Sensitivity and scenario analysis
Decision-making under risk and uncertainty

Strategic Financial Management

Financial KPIs for oil & gas (ROE, ROA, RRR)
Break-even analysis and margin optimization
Portfolio management and asset valuation
Case studies: analyzing oil & gas company reports
Wrap-up and final group exercise