Upstream Petroleum Contracts: Accounting and Auditing Policies and Procedures

Upstream Petroleum Contracts: Accounting and Auditing Policies and Procedures
Start
June 9, 2026
End
June 9, 2026
Address
08 Hermitage Street Central London W2 1BE, England, United Kingdom.   View map

Upstream Petroleum Contracts: Accounting and Auditing Policies and Procedures

479,344.00

SKU: KE0188 Category:

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Upstream Petroleum Contracts: Accounting and Auditing Policies and Procedures

Course Overview

The Upstream Petroleum Contracts: Accounting and Auditing Policies and Procedures course by KE Leaders provides specialized training on the financial and auditing aspects of upstream petroleum contracts. This comprehensive program focuses on accounting principles, cost management, compliance with regulatory standards, and auditing practices essential for the oil and gas exploration and production sectors. Participants will develop the skills to manage financial operations effectively and ensure transparency in contract administration.

Learning Outcomes

By the end of the course, participants will:

  • Understand the financial frameworks and accounting standards applicable to upstream petroleum contracts.
  • Master cost recovery mechanisms, allocation methodologies, and budgeting techniques.
  • Gain expertise in conducting audits for petroleum agreements.
  • Ensure compliance with international financial reporting standards (IFRS) and industry-specific policies.
  • Develop strategies to identify and mitigate financial discrepancies in contract execution.

Course Objectives

Participants will:

  • Explore the key accounting policies in upstream petroleum contracts, including PSCs and JOAs.
  • Learn about auditing procedures for exploration, development, and production phases.
  • Understand cost allocation, budgeting, and reporting requirements.
  • Develop skills in monitoring financial performance and compliance audits.
  • Analyze real-world case studies to identify best practices in upstream financial management.

Course Structure

Day 1: Fundamentals of Accounting in Upstream Petroleum Contracts

Topics Covered:

  • Introduction to Accounting in the Upstream Sector
  • Key Financial Clauses in Production Sharing Contracts (PSCs) and Joint Operating Agreements (JOAs)
  • Overview of Cost Recovery and Profit Sharing

Learning Outcomes:

  • Gain foundational knowledge of upstream petroleum accounting.
  • Understand financial provisions in exploration and production agreements.

Day 2: Cost Allocation and Financial Management

Topics Covered:

  • Direct vs. Indirect Costs in Upstream Operations
  • Cost Allocation and Recovery Mechanisms
  • Budgeting Techniques for Exploration and Production Activities
  • Workshop: Cost Analysis and Allocation in Petroleum Projects

Learning Outcomes:

  • Manage and allocate costs effectively in petroleum contracts.
  • Implement budgeting techniques to optimize financial performance.

Day 3: Auditing Policies and Procedures

Topics Covered:

  • Internal and External Auditing in Upstream Operations
  • Auditing Standards and Guidelines for Petroleum Contracts
  • Identifying Financial Irregularities and Discrepancies
  • Case Study: Successful Audits in the Oil and Gas Industry

Learning Outcomes:

  • Conduct comprehensive audits for upstream petroleum contracts.
  • Ensure financial transparency and accountability in contract execution.

Day 4: Compliance and Regulatory Reporting

Topics Covered:

  • International Financial Reporting Standards (IFRS) for Oil and Gas
  • Regulatory Compliance in Upstream Petroleum Accounting
  • Environmental, Social, and Governance (ESG) Considerations in Financial Reporting
  • Tools and Software for Regulatory Reporting

Learning Outcomes:

  • Ensure compliance with financial regulations and standards.
  • Utilize modern tools for effective reporting and compliance.

Day 5: Financial Risk Management and Dispute Resolution

Topics Covered:

  • Identifying and Mitigating Financial Risks in Upstream Contracts
  • Handling Disputes in Accounting and Auditing Processes
  • Workshop: Risk Assessment and Resolution Strategies
  • Review and Wrap-Up

Learning Outcomes:

  • Proactively manage financial risks and disputes.
  • Strengthen decision-making with effective financial strategies.

Training Methodology

The course employs:

  • Interactive Lectures: Covering theoretical and practical financial principles.
  • Workshops: Hands-on exercises in cost allocation and risk management.
  • Case Studies: Real-world examples of successful accounting and auditing practices.
  • Group Discussions: Collaborating with peers and experts for deeper insights.

Who Should Attend?

This course is suitable for:

  • Finance and accounting professionals in the oil and gas sector.
  • Auditors and compliance officers responsible for petroleum contracts.
  • Contract managers and legal advisors.
  • Business leaders and entrepreneurs in upstream petroleum operations.

Certification

Participants who complete the course will receive the Certificate in Accounting and Auditing for Upstream Petroleum Contracts from KE Leaders, demonstrating their expertise in financial management and auditing for the oil and gas sector.

Take Charge of Financial Management in Upstream Petroleum with KE Leaders!

Equip yourself with the skills to master accounting and auditing in petroleum contracts.

👉Enroll in the Upstream Petroleum Contracts: Accounting and Auditing Policies and Procedures course today and elevate your professional capabilities!

 

                          Enquiry at : admin@keleaders.com
                          Whatsapp: 0044 790 125 9494
                          For more details visit our website : www.keleaders.com

                         

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Name
Address

Categories

Finance & Accounting

Duration

5 Days

Month

June

Training Formats

Classroom, Online

Venue

Dubai, London, Madrid, Paris, Rome

Start Date

June 9, 2026

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Cips Level 5 Timetable For 2025/2026

Online and face-to-face* daytime and evening
classes run weekly as below.

Cips Medule

Medule Start Date

Medule End​ Date

Exam Date

L5M1

11.09.2025

23.10.2025

November 18th

L5M15

11.09.2025

23.10.2025

November 18th

L5M4

08.01.2026

19.02.2026

March 18th

L5M9

08.01.2026

19.02.2026

March 18th

L5M2

26.03.2026

30.04.2026

May 12th & 14th

L5M3

26.03.2026

30.04.2026

May 12th & 14th

L5M5

28.05.2026

02.07.2026

July 14th & 16th

L5M7

28.05.2026

02.07.2026

July 14th & 16th

Cips Medule

L5M1

Medule Start Date

11.09.2025

Medule End Date​

23.10.2025

Exam Date

November 18th

L5M15

Medule Start Date

11.09.2025

Medule End Date​

23.10.2025

Exam Date

November 18th

L5M4

Medule Start Date

08.01.2026

Medule End Date​

19.02.2026

Exam Date

March 18th

L5M9

Medule Start Date

08.01.2026

Medule End Date​

19.02.2026

Exam Date

March 18th

L5M2

Medule Start Date

26.03.2026

Medule End Date​

30.04.2026

Exam Date

May 12th & 14th

L3-M5

Medule Start Date

26.03.2026

Medule End Date​

30.04.2026

Exam Date

May 12th & 14th

L5M5

Medule Start Date

28.05.2026

Medule End Date​

02.07.2026

Exam Date

July 14th & 16th

L5M7

Medule Start Date

28.05.2026

Medule End Date​

02.07.2026

Exam Date

July 14th & 16th

Cips Level 4 Timetable For 2025/2026

Online and face-to-face* daytime and evening
classes run weekly as below.

Cips Medule

Medule Start Date

Medule End​ Date

Exam Date

L4M1

30.09.2025

28.10.2025

Nov 18th

L4M2

30.09.2025

28.10.2025

Nov 18th

L4M4

20.01.2026

24.02.2026

March 10th & 12th

L4M6

20.01.2026

24.02.2026

March 10th & 12th

L4M3

16.03.26

20.04.26

May 12th & 14th

L3M5

16.03.26

20.04.26

May 12th & 14th

L4M7

25.05.26

30.06.26

July 14th

L4M8

25.05.26

30.06.26

July 14th

Cips Medule

L4M1

Medule Start Date

30.09.2025

Medule End Date​

28.10.2025

Exam Date

Nov 18th

L4M2

Medule Start Date

30.09.2025

Medule End Date​

28.10.2025

Exam Date

Nov 18th

L4M4

Medule Start Date

20.01.2026

Medule End Date​

24.02.2026

Exam Date

March 10th & 12th

L4M6

Medule Start Date

20.01.2026

Medule End Date​

24.02.2026

Exam Date

March 10th & 12th

L4M3

Medule Start Date

16.03.26

Medule End Date​

20.04.26

Exam Date

May 12th & 14th

L3M5

Medule Start Date

16.03.26

Medule End Date​

20.04.26

Exam Date

May 12th & 14th

L4M7

Medule Start Date

25.05.26

Medule End Date​

30.06.26

Exam Date

July 14th

L4M8

Medule Start Date

25.05.26

Medule End Date​

30.06.26

Exam Date

July 14th