Oil and Gas Accounting and Taxation Training Course in Johannesburg, South Africa
Classroom training in Johannesburg · next cohort Nov 2, 2026 · from USD 6,800
Petroleum companies and national oil entities handle long project lives, shared ownership, large capital outlays and tax rules that differ from ordinary business, so a single misallocated cost can trigger audit disputes with partners and governments. Ten days give finance teams the technical grounding to account for and tax these activities correctly.
The first half covers accounting: exploration and evaluation costs under IFRS 6, successful efforts versus full cost, development and production assets, depletion by unit of production, decommissioning provisions, impairment, reserves reporting and revenue recognition for lifting and offtake imbalances. The second half covers joint operating agreement accounting, cash calls and audits, production sharing contract cost recovery and profit oil, royalties, petroleum income tax, ring-fencing, transfer pricing, withholding tax and tax planning for farm-ins and disposals. Applied labs use full worked models. Accountants, finance managers, tax advisers, auditors, joint venture and commercial analysts, and government revenue and petroleum ministry staff will benefit. Delivery is classroom-based in several cities, online or in-house, and a CPD-accredited Certificate of Completion is issued. Afterwards you can prepare accounts, joint venture billings and tax computations for upstream operations with confidence.
At a Glance
Training in Johannesburg, South Africa
Johannesburg is South Africa's economic heart, home to the JSE and the head offices of Africa's largest companies.
More about training in Johannesburg →- Format
- Classroom, in Johannesburg
- Duration
- Mon - Fri (10 Days)
- Fee
- USD 6,800
- Next start dates
- Nov 2, 2026, Nov 30, 2026, Dec 28, 2026
- Certificate
- Certificate of Completion
- Airport
- O.R. Tambo International (JNB)
- Time zone
- South Africa Standard Time (UTC+2)
- Currency
- South African rand (ZAR). Fees are listed in USD.
- Business districts
- Sandton, Rosebank and Midrand
About this course
Upstream oil and gas accounting differs sharply from standard commercial practice. Costs are incurred years before any revenue, outcomes are uncertain, partners share risk through joint ventures, and governments take their share through contracts and special taxes. Mistakes in cost classification, cost recovery claims or tax filings can be very expensive and may damage relationships with partners and regulators.
This ten-day programme builds capability in two linked halves. The first five days establish the accounting framework: the petroleum value chain, the lifecycle of an asset, treatment of exploration and development expenditure, depreciation and depletion, reserves, decommissioning, impairment and the preparation of financial statements. The second five days apply that foundation to commercial and fiscal arrangements. Participants study joint operating agreements, cost recovery under production sharing contracts, concession and royalty regimes, corporate income tax rules, ring-fencing, indirect taxes, transfer pricing and the tax consequences of transactions.
Every topic is anchored in worked models in spreadsheets, supported by anonymised statements and joint venture billings. In the closing days, delegates complete an integrated case that takes a field from exploration to production, producing the accounts, partner statements and tax computation, and then defend their treatments to a review panel.
Training Objectives
By the end of the course, participants will be able to:
- Explain the petroleum value chain and its implications for financial reporting.
- Apply successful efforts and full cost methods to exploration, evaluation and development spending.
- Calculate depletion, impairment and decommissioning provisions for upstream assets.
- Prepare joint venture accounts, cash calls and partner billings under a joint operating agreement.
- Compute cost recovery, profit oil and government take under production sharing contracts.
- Prepare petroleum income tax computations, including ring-fencing and capital allowances.
- Identify transfer pricing, withholding tax and indirect tax exposures in oil and gas transactions.
- Evaluate the tax and accounting consequences of farm-ins, disposals and asset swaps.
What you'll learn
Key Takeaways
Participants leave with:
- Spreadsheet models for depletion, impairment and decommissioning provisions.
- A joint venture billing and cash call template.
- A production sharing cost recovery and profit split model.
- A petroleum tax computation template with ring-fencing logic.
- A checklist of audit and dispute risks in cost classification.
- A completed integrated case from exploration through to tax filing.
Training Methodology
The programme is technical and model driven, built around calculation practice. It includes:
- Concise lectures that explain each rule before it is applied
- Spreadsheet labs where delegates build depletion, JV and PSC models
- Anonymised joint venture statements, audit queries and tax returns
- Group exercises comparing accounting and tax positions
- A final integrated case reviewed by a facilitator panel
Day 1: The Petroleum Business and Its Accounting Challenges
- Upstream, midstream and downstream value chain
- Asset lifecycle from licensing to decommissioning
- Contract types: concessions, production sharing and service agreements
- Industry accounting terminology and cost categories
- Regulatory and reporting environment
- Case discussion: where accounting risk arises in a field project
Day 2: Exploration and Evaluation Accounting
- IFRS 6 and the exploration and evaluation asset
- Successful efforts method in detail
- Full cost method and cost centres
- Capitalisation versus expensing of drilling and seismic costs
- Dry hole and appraisal well treatment
- Exercise: applying both methods to the same well programme
Day 3: Development, Production and Depletion
- Development cost capitalisation and borrowing costs
- Reserves categories and their role in accounting
- Unit-of-production depletion calculations
- Operating costs, inventory and lifting costs
- Component accounting for facilities
- Lab: building a depletion schedule
Day 4: Impairment, Decommissioning and Provisions
- Impairment indicators and testing cash-generating units
- Discounted cash flow inputs for value in use
- Decommissioning obligations under IAS 37 and IFRIC 1
- Contingent liabilities and environmental provisions
- Disclosure requirements for extractive entities
- Exercise: measuring and updating a decommissioning provision
Day 5: Revenue, Lifting and Financial Statements
- Revenue recognition for crude oil and gas sales
- Entitlement and sales methods for lifting imbalances
- Underlift and overlift accounting
- Hedging and commodity price exposure
- Preparing financial statements for an upstream entity
- Review: interpreting a published oil company annual report
Day 6: Joint Venture Accounting
- Structure and key clauses of a joint operating agreement
- Accounting procedure: allowable costs and overheads
- Cash calls, monthly statements and billing
- Partner audits and dispute resolution
- Unitisation and redetermination effects
- Lab: preparing a joint venture statement for non-operators
Day 7: Production Sharing Contract Accounting
- Cost oil, profit oil and cost recovery limits
- Recoverable and non-recoverable costs
- Uplift, bonuses and royalty treatment
- R-factor and sliding-scale sharing mechanisms
- Government take and contractor take analysis
- Model exercise: a full production sharing calculation
Day 8: Petroleum Fiscal Regimes and Income Tax
- Royalties, signature bonuses and resource rent taxes
- Corporate income tax computations for petroleum operations
- Capital allowances, loss carry-forward and ring-fencing
- Deductibility of interest, decommissioning and exploration costs
- Stabilisation clauses and fiscal change
- Lab: preparing a petroleum tax computation
Day 9: Cross-Border, Indirect and Transactional Tax
- Transfer pricing for services, marketing and intragroup loans
- Withholding tax on services and treaty relief
- VAT and customs duty on upstream imports
- Tax on farm-ins, farm-outs and disposals
- Capital gains and indirect transfers of licence interests
- Tax audits, objections and documentation practice
Day 10: Integrated Case and Panel Review
- Integrated field case from exploration to production
- Preparing accounts, partner statements and tax filing
- Spotting errors and audit queries in a completed pack
- Reporting to management, partners and regulators
- Panel defence of accounting and tax positions
- Course review and personal development plan
The course is designed for finance, tax and commercial professionals working in or alongside the petroleum sector, including:
- Financial accountants and controllers in oil and gas companies
- Joint venture accountants and partner accounting staff
- Tax managers and external tax advisers
- External and internal auditors of extractive entities
- Staff of national oil companies and petroleum ministries
- Revenue authority officials who audit petroleum taxpayers
- Commercial and business development analysts
- Oilfield services and contractor finance managers
- Investors and bank officers who review petroleum clients
Delegates who attend the ten days and complete the modelling labs and integrated case are awarded a CPD-accredited Certificate of Completion issued by Vision Reach Global Consultancy.
Choose Where You Want to Learn
Oil and Gas Accounting and Taxation Training Course Venues
South AfricaJohannesburgNext Nov 2· 13 dates$6,800Viewing- South AfricaPretoriaNext Nov 2· 13 dates$6,400
- South AfricaCape TownNext Oct 26· 13 dates$7,600
KenyaNairobiNext Nov 9· 13 dates$3,000- KenyaMombasaNext Oct 26· 13 dates$3,200
- KenyaNaivashaNext Nov 2· 13 dates$3,000
- KenyaKisumuNext Oct 26· 13 dates$3,000
- KenyaMachakosNext Nov 2· 13 dates$3,200
UgandaKampalaNext Nov 2· 13 dates$3,800
RwandaKigaliNext Oct 26· 13 dates$3,800
TanzaniaArushaNext Nov 9· 13 dates$3,800- TanzaniaDodomaNext Oct 26· 13 dates$3,600
- TanzaniaDar es SalaamNext Oct 26· 13 dates$4,000
- TanzaniaZanzibarNext Nov 16· 13 dates$5,200
NigeriaLagosNext Nov 16· 13 dates$5,600- NigeriaAbujaNext Nov 9· 13 dates$5,600
UAEDubaiNext Oct 26· 13 dates$7,600
GhanaAccraNext Nov 16· 13 dates$9,000
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Frequently Asked Questions About Oil and Gas Accounting and Taxation Training Course in Johannesburg
Everything you need to know about this course before you register.
Oil and Gas Accounting and Taxation Training Course runs as classroom training in Johannesburg, South Africa, in Monday-to-Friday cohorts that start every four weeks. The venue, daily timings and joining details are sent in your Joining Instructions email ahead of the start date.
The next Johannesburg cohort starts on November 2, 2026, and a new intake follows every four weeks. Pick a date under "Upcoming sessions in Johannesburg" above and click Register; your seat is confirmed once payment or a signed purchase order is received.
The classroom fee for Oil and Gas Accounting and Taxation Training Course in Johannesburg is USD 6,800 per delegate, covering tuition and course materials. Register 3 or more delegates together and a 5% team discount is applied automatically.
Yes. Besides Johannesburg, Oil and Gas Accounting and Taxation Training Course runs as classroom training in Pretoria and Cape Town. It also runs as live online training you can join from anywhere in South Africa, and in-house at your organisation's own premises.
Yes — Oil and Gas Accounting and Taxation Training Course can be delivered at your offices in Johannesburg or at a venue you choose, on dates that suit your team, with case studies tailored to your sector. Message our training advisors to request a proposal.
By the end of the Oil and Gas Accounting and Taxation programme, you'll be able to explain the petroleum value chain and its implications for financial reporting, apply successful efforts and full cost methods to exploration, evaluation and development spending, calculate depletion, impairment and decommissioning provisions for upstream assets, and prepare joint venture accounts, cash calls and partner billings under a joint operating agreement. The full breakdown of topics is covered session by session in the Course Outline tab above.
The course is designed for finance, tax and commercial professionals working in or alongside the petroleum sector, including: Financial accountants and controllers in oil and gas companies, Joint venture accountants and partner accounting staff, Tax managers and external tax advisers, External and internal auditors of extractive entities, Staff of national oil companies and petroleum ministries, Revenue authority officials who audit petroleum taxpayers, Commercial and business development analysts, Oilfield services and contractor finance managers, and Investors and bank officers who review petroleum clients.
Oil and Gas Accounting and Taxation Training Course typically runs as 10 Days. It's available as in-person classroom, live virtual, and in-house corporate training — every course can also be delivered on-site for your team on dates that suit you.
Yes — delegates who meet the attendance requirement receive a Certificate of Completion for Oil and Gas Accounting and Taxation Training Course from Vision Reach Global Consultancy, issued in the name you register with, so double-check the spelling at checkout.
Oil and Gas Accounting and Taxation Training Course is pitched at intermediate professionals. If you're unsure whether it's the right fit for your current role or background, message our training advisors before you register and they'll help you confirm.
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