Accounting Procedures & Financial Management for E&P Operations AND Taxes & Tax Regime Systems in the Oil & Gas Industry

Category: Accounting & Finance

Upcoming Dates

No upcoming dates at present, contact us for more information

Course Fee

£5,750 + VAT

Accounting Procedures & Financial Management for E&P Operations


Taxes & Tax Regime Systems in the Oil & Gas Industry

An Intensive 5-day Programme

Part 1

Course Description:

This part will provide detailed workings of the practices and the various financial management control techniques upstream sector of the petroleum industry which will enhance their on-the-job professional competence.

Given the need for adequate cost containment, we have included a section on budgeting & cost control. There will be practical examples using international oil companies’ final accounts which will expose participants to the intricate processes as we examine numerous case studies.


  1. Financial Planning & Budgets
  2. Budgets Preparation: An Overview
  3. JV Budgets vs. Corporate Budgets
  4. Operated vs. Non-Operated Budgets
  5. Budgets Analysis
  6. Financial Controls Systems (including the control environment: internal / external controls)
  7. Budgetary Control (including variance analysis, project cost control, production cost reporting & control)
  8. AFE Administration & Budget Control
  9. Performance Bench Marking & Performance measurement.
  10. Oil & Gas Financing Options
  11. Understanding the Financial Statement of International Oil Companies

Part 2


In the oil industry, as in most other sectors of the macro economy, government’s major source of internally generated revenue has always been through taxation.

Taxation and Tax regimes of oil & gas exploration and production are however more complex as a result of the complexity of hydrocarbon exploitation itself.

Government has always intended to maximise their tax revenue, but not without difficulties particularly with respect to the petroleum industry. The foregoing has therefore been responsible for the need to thoroughly understand tax regimes and how to use them in maximising tax revenue. This is essentially what this section endeavours to achieve.


  1. Oil & Gas Tax Regimes (Profit Tax & Production Tax)
  2. Contributory Factors to The Design & Choice Of Fiscal System By Host Governments
  3. Example Fiscal System of Two Countries with Similar Crude: (UK & Nigeria’s Fiscal Systems Compared)
  4. Crude Pricing Mechanism
  5. The Concept of Licenses, Royalties & Bonuses
  6. Special Taxation Measures
  7. Discussion and Comparison of Mozambique Taxation Regime
  8. Taxation & Corporation Tax Computation
  9. Quantifying Petroleum Revenue & Chargeable Tax
  10. Tax Policy, Tax Audit & Flow of Tax Revenue & Funds

Who Should Attend?

  • Petroleum Economists
  • Financial Analysts
  • Accountant
  • Lawyers