Course Concept:

The petroleum production industry is characterized by a unique technical and economic nature. The element of risk and uncertainty of results are inevitable during the exploration and research phase, which may not lead to viable economic results. Conversely, it may lead to viable results that enable full recovery of investment costs within a short period.

This industry also requires significant capital and a long recovery period. This often renders countries generally unable to independently finance the huge expenditures required for petroleum exploration, development, and production. This makes these activities subject to several types of petroleum contracts, such as concessions, leases, and production-sharing contracts. This has significant implications for the accounting practices of petroleum production companies, which must depict technical and legal activity so that financial statements reflect this activity.

The Accounting and Finance in the Oil and Gas Industry course aims to identify how activities and decisions are reflected in company reports, shareholders, and stakeholders, and to detect changes in the financial and economic data provided by the participant or by department colleagues. We also help build personal confidence in handling financial information and interacting with business colleagues. The course provides case studies, solved examples, and a summary of illustrative annual reports from oil and gas companies to support learning throughout the training program.