An Intensive 5-day Training Course
Fundamentals of Joint Venture Accounting
in the Oil and Gas Industry
Improve your Way & Knowledge in Joint Venture Accounting
Scheduled Dates
Classroom
| 14 - 18 Jul 2025 | Singapore | $5,950 | RESERVE A SEAT |
| 25 - 29 Aug 2025 | Dubai - UAE | $5,950 | RESERVE A SEAT |
| 01 - 05 Dec 2025 | Singapore | $5,950 | RESERVE A SEAT |
| 08 - 12 Dec 2025 | Dubai - UAE | $5,950 | RESERVE A SEAT |
| 19 - 23 Jan 2026 | Dubai - UAE | $5,950 | RESERVE A SEAT |
Would an alternative date be more suitable?
We offer a variety of tailored training options, customized to meet your organisation's needs. Delivered anytime, anywhere, we make it easy to bring expert training directly to your team.
Why Choose this Training Course?
This PetroKnowledge Joint Venture Accounting training course is designed to develop the essential skills necessary to prepare and evaluate joint venture accounts and to improve the organization’s account function. Our course is aimed at accounting professionals wishing to deepen their knowledge of the accounting procedures applied to joint venture.
This PetroKnowledge training course also covers several issues regarding the relationships between operators and non-operators in joint ventures, the financing of joint venture operations and the reporting of joint costs.
This is an intensive and highly practical Fundamentals of Joint Venture Accounting in the Oil and Gas Industry training program concentrating on aspects of accounting that are unique to this industry. As well It will enable you to know how to apply a series of major financial accounting principles and standards that are particularly relevant to upstream oil and gas activities.
What are the Goals?
By the end of this Fundamentals of Joint Venture Accounting in the Oil and Gas Industry training course, you will be able to understand:
- The structure of joint ventures in the oil and gas industry
- The applied structured methodology for conducting oil industry in joint venture
- The different accounting method for joint ventures
- The account for interests in joint operations
- The main clauses contained within joint operating agreements
- The accounting procedures set out in joint operating agreements and production sharing contacts
- The differences in accounting treatments of costs for IFRS reporting and cost recovery purposes
- Application of series of major financial accounting principles and standards that are particularly relevant to oil and gas activities
- The different types of Joint Venture agreements and the accounting implications of each
- Accounting issues related specifically to joint interests
Who is this Training Course for?
This PetroKnowledge Joint venture Accounting training course is designed to develop accounting knowledge and skills, providing details of the latest policies and procedures. It will be greatly benefit to:
- Joint Venture Accountants and Auditors
- Government Regulators and Auditors
- Financial and Investment Analysts
- Project Managers & Team Members
- Financial Analysts
- Accounting Executive / Managers
- Financial Reporting & Treasurers / Managers
- Financial Executives / Managers / Controllers / Directors
- Budgeting Officers / Executives / Managers
- Cost Controllers, Executive & Managers
- Taxation & Reporting Executives / Managers
- JV Executives / Managers / Advisors
- Business / Investment Analysts & Managers
- Regulatory Compliance Officers
- Commercial Analysts, Executives & Manager
How will this Training Course be Presented?
Participants to this PetroKnowledge Joint Venture Accounts training course will receive an explanation and demonstration of the accounting issues relating to joint venture arrangements. The training methodology includes case studies, group live instruction, presentation and discussion of worked examples, group discussion and interactive participation is encouraged.
Organisational Impact
This Joint Venture Accounting training course is of direct relevance to the joint venture account and as a result the organizations will benefit greatly from their employees participation. The organization will gain from:
- More effective finance support for front-line departments
- Greater relevance and reliability of accounting and financial
- More strategic thinking and focus on performance
- More effective use of accounting methods
- Preparation of staff for increased responsibility
Personal Impact
This Fundamentals of Joint Venture Accounting in the Oil and Gas Industry training course will be of personal benefit to delegates by providing you with:
- A better understanding of the context and importance of the work you do
- Greater awareness of industry practices, problems and solutions
- Increased understanding and assurance to complete tasks successfully
- 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 Accounting in Oil & Gas industry
- Characteristic Features of the Oil and Gas Industry
- Overview of oil and gas accounting
- The impact of commodity prices, currency & interest rate instability
- Differences between IFRS principles and US GAAP
- Joint venture agreement in Oil & Gas Sector
Day Two: Joint Venture Nature & Forms
- Joint Venture Definition, Features and Characteristics
- Typical Provisions of Joint Venture Agreements
- Relationship between Operator and Non-operator Participants
- Corporate Joint Ventures
- Limited Partnership
- Undivided Interest
- Limited Liability Companies / Partnership
Day Three: Accounting for Joint Venture
- Methods of accounting for joint venture:
- Proportionate consolidation
- Equity method
- Alternative treatments
- Choice of legal framework
- Accounting for the tax treatment:
- Formation
- Maintenance of Accounting
- Allocation & Substantial economic effect
- Level of involvement
- Undivided Interests
Day Four: JV Accounting in Practice
- Accounting for Contributed Property
- Revenue Recognition Relating to Over and Under-lifting
- Budgets and Approvals
- Cash-calls Billing Statements and Reporting of Expenditures
- Responsibility of Operator to Provide Sufficient Timely Information
- Audits
Day Five: Major Accounting Issues in Joint Venture
- Accounting Issues related to Joint Venture Operations
- IFRS 11 Joint Arrangements and IAS 28 Investments in Joint Ventures
- Relationship between Operator and Non-operator Participants
- The Financing of Joint Ventures – Billing Statements and Cashflow Reporting
- Reporting of Expenditures
- Cost Allocation Methods and Issues
Certificate
- On successful completion of this Training Course / Online Training Course, a PetroKnowledge Certificate / E-Certificate will be awarded to the delegates.
In Association With
Frequently Asked Questions
Why PetroKnowledge?
PetroKnowledge is a globally recognized provider of training courses for oil and gas professionals, offering a wide range of specialized training courses designed to enhance knowledge, skills, and expertise in the energy sector. With courses tailored to meet the evolving demands of the oil and gas industry, PetroKnowledge helps professionals stay up-to-date with industry standards, technological advancements, and best practices.
Who are these training courses designed for?
Our courses are specifically developed for professionals in the oil and gas industry, including engineers, technical staff, managers, and other specialists looking to advance their careers. Whether you’re a seasoned expert or new to the sector, our training for oil and gas professionals is suited to individuals at all stages of their professional journey.
Are the courses delivered online or in person?
PetroKnowledge offers flexible learning solutions with both online courses and in-person training options. Online courses for oil and gas professionals provide the flexibility to learn from anywhere, while in-person courses offer a hands-on, interactive learning environment. Each training course page provides detailed information on the delivery format, allowing you to choose the option that best meets your learning style and schedule
Can I get a customized training course for my team?
Yes, PetroKnowledge offers customized in-house training solutions for organizations looking to upskill their teams. We work closely with companies to design bespoke training courses for oil and gas professionals that address specific challenges and objectives. Whether you need on-site training or online solutions, we can tailor the training courses to suit your organization’s needs.
Are there any prerequisites for attending a course?
Certain advanced training courses for oil and gas professionals may require prior experience or technical knowledge. These prerequisites ensure that participants can fully benefit from the course content. We recommend reviewing the course description on the relevant page to determine if any prerequisites apply to your selected course.
How can I enroll in a course?
Enrolling in one of our training courses for oil and gas professionals is simple and convenient. Navigate to the specific course page, click “Enroll Now,” and complete the registration form. You will receive a confirmation email with further details on how to proceed.
You may also get in touch with our Registration Team on
+971 50 981 7386 | +971 2 557 7389 or send an email to [email protected]
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.
Will I receive a certificate after completing the course?
Yes, upon successful completion of our courses for professionals in the oil and gas industry, you will receive an industry-recognized certificate from PetroKnowledge. This certification is designed to validate your skills and knowledge and can significantly enhance your professional credentials, boosting your career prospects in the competitive oil and gas sector.
When and how do I arrange payments?
We offer two convenient payment options:
- Bank Transfer – You can make payment via bank transfer. Once your registration is confirmed, you will receive an invoice with the banking details for the transfer. We would require you to supply a swift copy for us to confirm receipt of funds.
- Payment Link – Alternatively, we provide a secure payment link that you can use to complete your payment after your registration has been confirmed.
What is the refund or cancellation policy?
Our refund and cancellation policy varies depending on the course and circumstances. Generally, cancellations made at least 21 days before the training are eligible for a refund, less any administrative fees. If you have any specific inquiries about the cancellation or refund, don’t hesitate to contact our support team, who can assist with your booking and cancellation queries.
Is there a discount for more than one registrant/course?
For corporate fees and group registration, please send your query to [email protected].
