The Oil & Gas Industry is one of the top industries in the world requiring intensive capital investment and involves significant risks. Accounting in the Oil & Gas industry is also very unique. Applying accounting rules and regulation are complex and different from any other industry. The 2-day course focuses on these issues and provides an overall understanding of a series of major IFRS and US GAAP accounting principles and standards that are particularly applicable to the upstream oil and gas business; shows how to apply these accounting rules; discusses financial reporting requirements as applicable to upstream companies and all related Joint Ventures and Production Sharing Contracts.

1. Enhanceaccountingknowledgeinupstreamindustry
Petrosync Distinguished Instructor
IntroductiontoOil&GasIntroductiontoOil&Gas
AccountingAccounting
Learnthepractical
methodsin
Accountingfrom
theExpert!
Ahmed Badawy
Corporate Financial Executive
US Public Corporation
Facilitated over 35 trainings in Oil and Gas over the last 5 years
Certified Public Accountant (CPA)
Former Chairman of the PwC IFRS experts committee and a leader within the IFRS core team for the Energy Sector
and the Greater Houston market
17th-18thAugust2015atKualaLumpur,Malaysia
COMPREHEND and PRACTICE financial analysis of oil and gas companies
LEARN the primary differences between the two major oil and gas accounting methods, successful efforts and full cost
accounting
LEARN the fundamentals of the expenditure capitalization in the Oil & Gas industry including specific capitalization issues
related to finance costs.
UNDERSTANDING the way to record in the financial records the effect of oil and gas companies' exploration, development and
production activities, including depreciation, depletion and amortization expenses and dismantlement, restoration and
abandonment costs
LEARN how to calculate and evaluate a myriad of financial and operational metrics used to assess oil and gas firm's exploration
and production business, such as finding costs, reserve value added to spending ratio and other reserve-based metrics
Course Objectives
Specially Designed for
Accounting and finance professionals who wish to enhance their knowledge in accounting in upstream industry
including:
FOCUS TRAINING • REDUCE COST • ENHANCED RESULTS
Over the years, there has been a growing demand for hybrid training programs. It is an excellent option to maximize your training dollar for your
specific training needs. We make it possible to run a training program that is customized totally to your training needs at a fraction of an in-house
budget!
If you like to know more about this excellent program, please contact us on +65 6415 4500 or email general@petrosync.com
HYBRID TRAINING SOLUTIONS
Executives and Managers from Upstream E&P Accounting
Financial Analysts
Financial Controllers
Budgeting Analysts
Auditors
Finance/Project Planning Analysts
Joint Ventures Analysts
Production Sharing and Project Management
Supported by

2. The Oil & Gas Industry is one of the top industries in the world requiring intensive capital investment and involves
significant risks. Accounting in the Oil & Gas industry is also very unique. Applying accounting rules and regulation are
complex and different from any other industry.
The 2-day course focuses on these issues and provides an overall understanding of a series of major IFRS and US GAAP
accounting principles and standards that are particularly applicable to the upstream oil and gas business; shows how to
apply these accounting rules; discusses financial reporting requirements as applicable to upstream companies and all
related Joint Ventures and Production Sharing Contracts.
The course provides an in important overview through the fundamentals of accounting in the O&G industry with focus
on different methods for the expenditure capitalization, depreciation & depletion together with fundamentals for
accounting for international operations represented by JVs and PSCs. The course also addresses the key reporting
requirement including financial statements disclosures.
Course Overview
Introduction to Oil & Gas Accounting
17th-18th August 2015 at Kuala Lumpur, Malaysia
08:00–09:00 Registration (Day1)
09:00–11:00 Session I
11:00–11:15 Refreshment & Networking Session I
11:15–13:00 Session II
13:00–14:00
14:00–15:30 Session III
15:30–15:45 Refreshment & Networking Session II
15:45–17:00 Session IV
17:00 End of Day
PROGRAM SCHEDULE
Lunch
SAVE COST • IMPROVE PERFORMANCE • REDUCE RISK
PetroSync understands that in current economic climate, getting a cost-effective return on your training investment is critical for all our clients. This
training can be conducted exclusively for your organization. The training can be tailored to meet your specific needs at your preferred location and
time. We will meet you anywhere around the globe.
If you like to know more about this program, please contact us on +65 6415 4500 or email general@petrosync.com
IN-HOUSE SOLUTIONS

3. N
E
P
F
DAY 1
Session 1: Introduction
Session 2: Overview of fundamental concepts of oil and gas
accounting
Full Cost method
Successful method
IFRS approach
Session 3: Accounting for international operations
Introduction to accounting for JointVentures
Introduction to accounting for Production Sharing
Contracts
Session 4: Accounting for pre-licensing / Prospecting
expenditure
Field Support Equipment
Geological and geophysical survey costs
Overheads
Depreciation of Equipment
Case Study
Session 5: Accounting for Exploration and Evaluation costs:
DAY 1
Session 1: Introduction
Session 2: Overview of fundamental concepts of oil and gas
accounting
Full Cost method
Successful method
IFRS approach
Session 3: Accounting for international operations
Introduction to accounting for JointVentures
Introduction to accounting for Production Sharing
Contracts
Session 4: Accounting for pre-licensing / Prospecting
expenditure
Field Support Equipment
Geological and geophysical survey costs
Overheads
Depreciation of Equipment
Case Study
Session 5: Accounting for Exploration and Evaluation costs:
Introduction to Oil & Gas Accounting
17th - 18th August 2015 at Kuala Lumpur, Malaysia
Course Agenda
DAY 2
Session 7: Accounting for Production costs
Session 8: Capitalization of borrowing costs
Accounting for Borrowing costs
Case Study
Session 9: Depreciation, depletion & amortization
Accounting for DD&A
Session 10: Impairment
Impairment triggers
Performing the impairment test
Accounting for Impairment of oil and Gas properties
Case Study
Session 11: Asset retirement and environmental obligations
Session 12: Reporting of reserves & other disclosures
WHYYOUSHOULDATTENDPETROSYNC’SEVENTS
To ensure that all objectives of the course matches yours, all PetroSync programs are developed after intensive and extensive research
within the industry
PetroSync programs focus on your immediate working issues to ensure that you are able to apply and deliver immediate results in real work
situations
Application and implementation of industry knowledge and experience are the drivers for our course design, not theoretical academic lectures
PetroSync training focuses on practical interactive learning tools and techniques including case studies, group discussions, scenarios,
simulations, practical exercises and knowledge assessments during the course. Invest a small amount of your time to prepare before attending
the course to ensure maximum learning
PetroSync follows a rigorous selection process to ensure that all expert trainers have first-hand, up-to-date and practical knowledge and are
leaders of their respective industrial discipline
GeneralTreatment of Exploration costs
Recordkeeping procedures
Exploratory well costs
Dry holes
Case Study
Session 6: Accounting for Development costs
Field Support Equipment
Geological and geophysical survey costs
Overheads
Depreciation of Equipment
Case Study

4. Petrosync Distinguished Instructor
CLIENTLISTINCLUDES:
BP
Aramco
Enbridge
TransCanada
Ontario Power Generation
LISTOFACHIEVEMENTS
Development of the training arm for PricewaterhouseCoopers for the entire Energy Sector including number of big events like
the Annual Oil and Gas Institute conference that is being attended by all the big Oil and Gas executives around the globe in
addition to the annual PwC Oil and Gas and Utilities sectors trainings (conferences).
Over 35 training Oil and Gas and Utilities events over the last 5 years with outstanding feedback.
Lead instructor for all IASeminar public Oil & Gas courses and Utilities public and in-house trainings.
Ahmed Badawy
Corporate Financial Executive
US Public Corporation
Ahmed Badawy is a corporate financial executive with a US public corporation, leading their global IFRS and US GAAP reporting
group. Prior to that and until 2009, Ahmed was a Senior Audit Manager and National IFRS conversion specialist with
PricewaterhouseCoopers in Houston, where he worked on multiple international engagements for both public and private
companies. He was also the Chairman of the PwC IFRS subject matter experts committee, and a leader within the IFRS core team for
the Energy Sector and the Greater Houston market.
His work experience includes financial reporting and audits for SEC-listed and private Oil & Gas and utility companies under US GAAP
and/or IFRS, plus Sarbanes Oxley compliance-related work. He has a technical knowledge of US GAAP, IFRS, and SEC reporting, and
also extensive experience in IFRS conversions and in the development of IFRS implementation strategies for US companies
(particularly in the Oil & Gas and Utilities industries). Ahmed is also experienced in designing and delivering training courses, and has
developed technical materials for a number of energy-related IFRS events. He has coauthored a publication on the impact of
transitioning to IFRS for Energy companies. A Certified Public Accountant (CPA) in the states of NewYork, California andTexas, Ahmed
is also an Egyptian Chartered Accountant
For a copy of PetroSync’sTraining Calendar for 2015, please visit : http://petrosync.com/PETROSYNC_-_Catalog_Training_Yearly_Version_-_2015_-_1.pdf
Introduction to Oil & Gas Accounting
17th-18th August 2015 at Kuala Lumpur, Malaysia
Petroleum Accounting & Finance Training Courses (May- November 2015)
18th-22ndMay Crude Oil Trading & Price Risk Management David Ford
8th-11thJune
10th-12thJune
29thSept-2ndOct
5th-8th Oct
16th-17thNov
DATE COURSE TITLE INSTRUCTOR
Application of VBA & Advanced Excel to Financial Modeling & Analysis Michael Rees
Practical Accounting in JV and PSC Ahmed Badawy
Advanced Financial Modeling for Oil & Gas Michael Rees
Risk and Simulation Modelling for Oil and Gas Applications Michael Rees
Introduction to Oil & Gas Accounting Ahmed Badawy
18th-20th Nov Practical Accounting in JV and PSC Ahmed Badawy

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Title : Introduction to Oil & Gas Accounting
Date : 17th-18th August 2015
Location : Kuala Lumpur, Malaysia
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