The course covers a wide range of topics that blend financial accounting principles with the unique requirements of upstream petroleum operations. Participants will progress from foundational concepts to advanced applications, ensuring comprehensive coverage of the subject matter.

Introduction to Upstream Petroleum Industry

Overview of upstream petroleum activities: exploration, development, and production
Key stakeholders and business models in the oil and gas industry
Distinction between upstream, midstream, and downstream sectors

Principles of Petroleum Accounting

Fundamentals of financial accounting for oil and gas operations
Industry-specific standards under IFRS and other global frameworks
Differences between successful efforts and full-cost accounting methods

Exploration and Development Costs

Accounting for geological and geophysical studies
Capitalization of drilling and development expenditures
Impairment testing and treatment of dry holes

Production Sharing Agreements and Contracts

Types of petroleum contracts: PSAs, concessions, risk service agreements
Financial implications and accounting treatments of PSAs
Cost recovery, profit oil, and government take

Joint Venture Accounting

Structures of joint venture arrangements in upstream petroleum
Accounting methods for joint venture transactions
Allocation of costs, revenues, and shared assets among partners

Revenue Recognition and Cost Recovery

Recognition of crude oil and natural gas revenues under IFRS
Cost recovery mechanisms and challenges
Allocation of production to different stakeholders

Reserve-Based Accounting and Asset Valuation

Accounting for petroleum reserves and resources
Methods for valuing oil and gas assets
Depreciation, depletion, and amortization of upstream assets

Regulatory and Compliance Requirements

National and international regulatory frameworks
Transparency initiatives in the petroleum industry (EITI and others)
Audit requirements and best practices for compliance

Financial Decision Making in Upstream Petroleum

Capital budgeting for exploration and production projects
Risk analysis and management in petroleum investments
Using financial data to support strategic decision-making

Case Studies and Practical Applications

Real-world case studies of upstream petroleum companies
Analysis of joint venture reporting examples
Practical exercises in preparing petroleum financial statements

By the end of the course, participants will be capable of applying accounting and financial reporting knowledge to upstream petroleum operations, ensuring accuracy, compliance, and value-added decision-making for their organizations.

✔	22-09-25
	13-10-25
	17-11-25
	21-12-25
	12-01-26
	09-02-26
	01-12-25
	06-04-26
	03-08-26
	07-12-26

	London
	Abu Dhabi
	Cairo
	Doha
	Dubai
	Geneva
	Istanbul
	Paris
	Singapore

Upstream Petroleum Accounting Training Course

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Upstream Petroleum Accounting Training Course

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