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Financial Accounting, Reporting &  Business Support in the Oil and Gas Industry

An Intensive 5-Day Online Training Course

Financial Accounting, Reporting &
Business Support in the Oil and Gas Industry

Evaluating Financial and Strategic Issues Facing the Oil & Gas Industry

Scheduled Dates

20 - 24 May 2024 Online $3,950
25 - 29 Nov 2024 Online $3,950
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Why Choose this Training Course?

Why Choose this Online Training Course?

This Petroknowledge Financial Accounting, Reporting & Business Support in the Oil and Gas Industry online training seminar provides you with the latest financial knowledge and skills, through the evaluation of strategic issues and challenges facing the industry. It explores the internationally accepted accounting methods and techniques used in the Oil & Gas sector to report costs, asset values and profit as well as techniques of financial evaluations. You will also examine the latest risk management techniques, enabling you to manage and control oil price, exchange rate and interest rate volatility using derivatives.

In addition, we will explore project management techniques in this exciting Petroknowledge training course designed to develop and enhance your skills and knowledge of this unique industry.

This online training course will feature:

  • An Analysis of the Major Strategic Issues affecting the Oil & Gas Industry
  • Key Financial Accounting Methods and Techniques
  • An Analysis of Joint Venture and Product Sharing Agreements
  • The latest Risk Management Techniques
  • The latest Project Management Techniques

What are the Goals?

What are the Goals?

By the end of this online training course, participants will be able to:

  • Evaluate the long term strategic issues facing the Oil and Gas industry
  • Analyse the financial, economic and commercial drivers
  • Evaluate performance using key financial accounting methods and techniques
  • Deliver more timely and useful information to decision makers
  • Improve project controls, measurement & performance reporting & overall corporate governance

Who is this Training Course for?

Who is this Online Training Course for?

This Petroknowledge online training course is suitable for a wide range of professionals but will greatly benefit:

  • Accountants and Finance Professionals responsible for financial accounting, treasury, budget preparation and management reporting
  • Process and Non-technical Professionals who require a more in-depth understanding of financial accounting reporting, project management and forecasting techniques
  • Financial Planners and Cost Analysts
  • Line / Unit Heads with direct planning and budgeting responsibility
  • Account Personnel and Business Consultants

How will this Training Course be Presented?

How will this Online Training Course be Presented?

This online training course will utilize a variety of proven online learning techniques to ensure maximum understanding, comprehension, retention of the information presented. The training course is conducted online via an Advanced Virtual Learning Platform in the comfort of any location of your choice.

Organisational Impact

This Petroknowledge Financial Accounting, Reporting & Business Support in the Oil and Gas Industry virtual training seminar is of direct relevance to the Oil & Gas sector and as a result the organisations will benefit greatly from their employees participation. The organization will gain from employees with:

  • An in-depth knowledge of the finance and accounting issues facing your organization
  • The knowledge and skills to prepare accounts in accordance with IFRS
  • An ability to evaluate the impact of major IFRS
  • Skills to evaluate performance and recommend actions to improve performance
  • An awareness of risk and the tool and techniques to manage risk effectively
  • An ability to work independently and as valuable team members

Personal Impact

This online training seminar will personally benefit delegates by providing you with a:

  • Better understanding of the context and importance of the work you do
  • Improved knowledge and skills to improve your effectiveness
  • An ability to evaluate, analyse and recommend action
  • Increased self-confidence and motivation at work
  • Greater job satisfaction in providing quality support to management
  • Greater ability to supervise, develop and motivate colleagues

Daily Agenda

Day One: Introduction to Financial Accounting in Oil and Gas Industry

  • Nature & Features of the Oil & Gas Sector
  • The Latest Issues Facing the Oil and Gas Industry
  • The Principles of Oil and Gas Financial Accounting and Reporting
  • Definition of Reserves and Resources
  • The Roles & Responsibilities of the Finance Professional

Day Two: Methods and Techniques of Accounting in Oil and Gas

  • International Accounting Standards for Oil and Gas Companies
  • Accounting Techniques in the Oil & Gas Sector
  • Accounting for Costs (all types in oil & gas)
  • Accounting for Assets  and the Impact
  • Accounting for Revenue

Day Three: The Specific Financial Information in Oil and Gas

  • International Financial Reporting Standards (IFRS) & GAAP Differences
  • Joint Ventures and Product Sharing Agreements
  • Financial Statements
  • Ratio Analysis and Interpretation
  • Profitability of Oil & Gas Companies

Day Four: Evaluate Performance Measurement and Improve Efficiency

  • Advanced Financial Analysis
  • Evaluating Capital Investment using Various Financial Indicators: Payback, ARR, NPV & IRR
  • Comparative Analysis & Benchmarking
  • Earned Value Management for Oil And Gas
  • Evaluation the Assets & Reserves of Oil & Gas Companies

Day Five: Risk Management & Auditing

  • Understand the Market and Identify the Risks related to Oil & Gas Sector
  • Process of Risk Assessment
  • Compliance & Legal Requirments
  • The Board & Audit Committee - roles & responsibilities
  • Efficient Planning, Stability and Growth


  • On successful completion of this online training course, a PetroKnowledge E-Certificate will be awarded to the delegates

In Association With

GLOMACS Training

Our collaboration with GLOMACS aims to provide the best training services and benefits for our valued clients

Visit Website ›

The Energy Training Centre

Our collaboration with The Energy Training Centre aims to provide the best training services and benefits for our valued clients.

Visit Website ›

Frequently Asked Questions

How can I register for a training course?

  • To register online through our website, please click “Enroll Now” on the course page, complete and submit the form. A confirmation e-mail and instructions will be sent to the participant’s e-mail.
  • You may also get in touch with our Registration Team on
    +971 50 981 7386 | +971 2 557 7389 or send an email to

When and how do I arrange payments?

  • Payments can be made in USD or UAE local currency AED (Arab Emirates Dirhams) either by Bank Transfer or by Credit Card. Our Bank Account details will be provided on the invoice.
  • Course fees are payable upon booking unless a valid, authorized Purchase Order is provided and accepted.
  • Invoices will be sent via email/courier to the ID/name and address provided.
  • The course fee shall be settled prior to course start date. Corporate payments with existing payment policy shall be relayed to us in advance.

When should I expect to receive confirmation of registration?

Upon successful registration online, enrolment on the respective training course will be confirmed by Registration Team by e-mail along with the invoice and joining instruction.

Is there a discount for more than one registrant/course?

For corporate fees and group registration, please send your query to

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All rights reserved. Any unauthorized copying, distribution, use, dissemination, downloading, storing (in any medium), transmission, reproduction or reliance in whole or any part of this course outline is prohibited and will constitute an infringement of copyright.

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