IFRS Training Programme for Upstream Oil and Gas Professionals in Kuala Lumpur
Join us for our 2-day IFRS workshop for the oil, gas, utility, mining, and energy sectors in Kuala Lumpur, Malaysia. The Oil and Gas industry plays a vital role in powering economies worldwide. Its primary objective is to find, extract, refine, and sell hydrocarbons such as oil and gas. However, the industry faces challenges such as high capital costs, long lead times, and significant environmental impact. Exploration and production activities often occur in challenging environments. Additionally, transportation of outputs requires specialized infrastructure such as pipelines and tankers.
The industry is also vulnerable to macroeconomic factors. These include commodity prices, currency fluctuations, and political developments. Companies must continuously evaluate commercial viability and technical feasibility. They must also implement measures to mitigate environmental impact.
Impact of Accounting Issues Across Industries
Accounting issues significantly impact the Upstream, Midstream, and Downstream sectors. For the Upstream sector, major issues include reserves and resources, depletion and depreciation of assets, and exploration and evaluation. Other issues include development expenditures, borrowing costs, revenue recognition, and disclosure of reserves and resources. Production-sharing agreements and concessions also play a vital role.
In contrast, the Midstream and Downstream sectors face different challenges. These include product valuation issues, revenue recognition issues, emission trading schemes, and depreciation of assets. Therefore, accounting practices and disclosures are crucial. They ensure regulatory compliance and provide relevant financial information to investors and other stakeholders in the Oil and Gas industry.
We are excited to invite you to our comprehensive two-day program on International Financial Reporting Standards (IFRS) for Oil and Gas companies. Our course is designed to help you understand the key accounting issues and regulatory requirements specific to these industries. It will enable you to make informed business decisions based on sound financial reporting practices.
Key Learning Features | IFRS for Upstream Oil & Gas Training | Kuala Lumpur
- IFRS 6 exploration and evaluation costs in upstream oil and gas operations
- Upstream production accounting, including depletion, depreciation, and amortisation
- Asset retirement obligations and decommissioning provisions under IAS 37
- Reserves and resources disclosures for upstream oil and gas companies
- Production sharing contracts and concession agreement accounting
- Joint venture arrangements under IFRS 11 for upstream partnerships
- Impairment testing under IAS 36 for upstream oil and gas assets
- Revenue recognition under IFRS 15 for oil and gas sales contracts
- Lease accounting under IFRS 16 for upstream infrastructure and drilling rigs
- Commodity price and currency risk hedging under IFRS 9
- Sustainability disclosures under IFRS S1 and IFRS S2 for listed entities
- Real-world case studies from upstream oil and gas financial statements
Global Programme Schedule
Our IFRS for Oil & Gas, Petrochemical, Power, Utility & Mining Training Courses are also available in-person across major global energy and financial centres. Specifically, upcoming in-person programmes are scheduled in:
Online | London | Dubai | Abu Dhabi | Doha | Riyadh | Singapore | Kuala Lumpur | Hong Kong | Sydney | Toronto | Calgary | New York | Zurich | Hague | Brussels | Cape Town | Accra | Lima | Rio de Janeiro | Trinidad
For More Information
To enroll in the IFRS training course for Oil & Gas, Power, Utility, & Mining companies, contact our customer service team for guidance and information. We’re dedicated to excellent service and answering your questions. Contact us to achieve your career goals.
Instructor Bio
The course instructor will be one of our highly experienced
faculty members.
Our Faculty: Expertise That Drives Success
Shasat is proud to have over 30 world-renowned faculty members. Specifically, each faculty member is an expert in their respective field. Furthermore, every instructor shares hands-on implementation experience through our technical and professional development programmes. Consequently, participants benefit from practical real-world expertise in every session.
This programme is led by one of Shasat’s distinguished faculty members. Specifically, the instructor is a globally respected specialist in IFRS financial reporting for the energy and extractive industries. Furthermore, they have extensive experience advising oil and gas companies, mining corporations, petrochemical groups, power utilities and renewable energy businesses across the Middle East, Africa, Asia Pacific, Europe and the Americas.
The instructor brings deep technical expertise across all key sector-specific IFRS standards. Specifically, this includes IFRS 6 exploration and evaluation, production sharing contract accounting, decommissioning and rehabilitation provisions under IAS 37, impairment testing under IAS 36 and commodity price hedging under IFRS 9. Furthermore, they have direct experience supporting upstream, midstream and downstream operations across all energy and extractive industry sectors.
Drawing on years of global advisory and implementation experience, every session provides practical insights, real-world case studies and proven strategies. Specifically, participants gain the technical tools needed to address the most complex IFRS accounting judgements in their industry. Furthermore, our faculty combine real-world sector expertise with academic rigour. Consequently, every session is interactive, practically relevant and outcomes-driven.
Our Partners
Course Description
Day 1:
- Exploration and development costs:
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- Accounting for exploration and evaluation activities (IFRS 6)
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- Non-drilling exploration costs
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- Drilling exploration costs
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- Production, depreciation, depletion, and amortization
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- Dismantlement, restoration, and abandonment (“asset retirement obligations”)
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- Accounting for development and production activities
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- Analysis of Exploration and Production Activities
- Revenue Recognition (IFRS 15):
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- Revenue measurement and recognition
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- Recognition and valuation of reserves
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- Accounting issues arising from Production Sharing Agreements
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- Calculation of period end inventory
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- Examples and case studies
- Property, plant, and equipment:
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- Certain full cost practices may not be appropriate under IFRS
- Oil & Natural gas reserves:
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- IFRS follows a different approach
- Impairment Environmental accounting and disclosures:
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- Disclosure requirements relating to oil and gas producing activities
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- Proved oil and gas reserve quantities
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- Costs incurred for property acquisition, exploration and development activities
- Assessment of future net cash flows:
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- Industry data regarding firms’ exploration and production activities
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- Financial and operational metrics used to specifically assess oil and gas company’s exploration and production
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- Business Calculation and interpretation of various industry metrics used to assess an oil and gas company’s exploration and production business performance
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- Finding costs and reserve value-added-to-spending ratios
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- Practical examples and illustrative financial statements are used throughout the course
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- Examples and Case studies
Day 2:
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- Update on the IASB’s project for extractive industries
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- Examples and case studies
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- Specific accounting principles
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- Changes in accounting policies and valuation
- Notes to the Financial Statements:
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- Critical accounting issues and estimation uncertainty
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- Estimation of reserves and future cash flows
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- Events post reporting period
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- Presentation of financial statements (IAS 1)
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- Statement of cash flows (IAS 7)
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- Policies, changes in accounting estimates and errors (IAS 8)
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- Events after the reporting period (IAS 10)
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- Operating segments (IFRS 8)
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- Interim financial reporting (IAS 34)
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- Provisions, Contingent Liabilities and Contingent Assets (IAS 37)
- Financial Instruments (IFRS 9):
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- Recognition and Measurement
- Business Combinations and Consolidated Financial Statements:
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- Business combinations (IFRS 3)
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- Consolidated/separate purpose financial statements (IFRS 10 and IFRS 11)
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- Examples and practical issues
The course agenda provided herein is the proprietary intellectual property of Shasat. It is intended solely for the use of participants enrolled in the respective course. Any reproduction, distribution, or unauthorized use of this course agenda, in whole or in part, without the explicit written consent of Shasat, is strictly prohibited and may result in legal action.
All rights reserved. ©2026, Shasat
Why you must attend?
The energy and extractive industries are among the most technically demanding IFRS environments in the world. Specifically, professionals in these sectors must master IFRS 6 exploration and evaluation costs, decommissioning provisions under IAS 37, impairment testing under IAS 36, production sharing contracts and commodity price hedging under IFRS 9. Furthermore, regulators, auditors and investors across all major jurisdictions are demanding significantly higher quality financial reporting from energy and extractive industry companies. Consequently, finance professionals who master these sector-specific IFRS standards are becoming the most valuable and sought-after professionals in these industries.
The stakes have never been higher. Specifically, IFRS S1 and IFRS S2 sustainability disclosures are fundamentally reshaping financial reporting obligations for power, utility and renewable energy companies. Furthermore, ongoing IASB amendments to IFRS 15 revenue recognition, IFRS 16 lease accounting and IFRS 9 financial instruments continue to create new and complex accounting challenges across upstream, midstream and downstream operations. In addition, mining and petrochemical companies face increasing scrutiny on mine closure obligations, stripping and waste removal costs under IFRS 11, take-or-pay arrangements and environmental liability disclosures. Consequently, professionals who understand these requirements will lead their organisations through the most significant period of IFRS change in a generation.
This programme delivers the technical depth, practical confidence and sector-specific expertise that no other IFRS training can match. Specifically, every session covers IFRS 6, IFRS 9, IFRS 11, IFRS 15, IFRS 16, IAS 20, IAS 36, IAS 37 and IFRS S1 and IFRS S2 applied directly to oil and gas, petrochemical, power, utility, mining and renewable energy operations. Furthermore, real-world case studies and hands-on exercises ensure every participant leaves with skills that can be immediately applied within their organisation. Consequently, professionals who complete this programme will have the technical authority, regulatory confidence and sector-specific expertise to make a measurable difference to their organisation’s financial reporting quality. This is the programme that separates good finance professionals from truly exceptional ones.
Teaching methodology
The training program will employ a comprehensive and engaging approach to learning, designed to deliver maximum impact and retention. The methodology includes:
- A user-friendly slide deck that presents the concepts, methodologies, and principles in a clear and concise manner, making the material easily accessible to all attendees.
- Interactive sessions featuring real-life case studies to provide hands-on experience and bring the material to life.
- Explanations of concepts and methodologies through the use of examples and distinct scenarios, allow attendees to understand the material in context.
- Group exercises designed to illustrate accounting principles, encouraging collaboration and fostering a deeper understanding of the material.
- Discussions on GAAP differences ( IFRS vs US GAAP), industry issues, and diversity in practices, provide attendees with a well-rounded understanding of the subject matter.
- Access to additional course material and handouts, ensuring attendees have a comprehensive reference resource to support their learning.
- An open and inclusive atmosphere that encourages attendees to ask questions and engage in discussion, ensuring a thorough understanding of the material.
The combination of these elements creates a dynamic and engaging learning experience that will support the professional development of all attendees.
Who should attend?
The IFRS for Oil & Gas, Power, Utility, & Mining companies training program is designed for financial professionals who want to update their knowledge of IFRS accounting standards and stay ahead of the curve in a constantly evolving financial reporting landscape. This program is perfect for finance executives, accountants, auditors, financial analysts, and other professionals who are involved in financial reporting and decision-making. It is expected that participants have a basic understanding of financial reporting and accounting principles, or have previously completed basic accounting courses and are looking to enhance their skills and knowledge of IFRS standards.
This training program provides practical and comprehensive training to equip participants with the necessary skills to succeed in today’s ever-evolving financial landscape. It is an excellent opportunity for professionals seeking to improve their expertise and advance their careers in the oil and gas, power, utility, and mining sectors.
Feedback
Upon completion of the course, all delegates will receive an evaluation questionnaire aimed at gathering valuable feedback. This feedback is crucial to Shasat’s ongoing commitment to improving the quality of its learning solutions. By analyzing the trends in the responses, we are able to continuously enhance and refine our offerings to meet the evolving needs of our clients.
Venue & other info
Our training programs take place at the most prestigious professional training facilities in the city. Our venues have been meticulously chosen and expertly crafted to deliver an unparalleled and sophisticated learning experience. To further elevate your training journey, we will offer an array of refreshments including gourmet tea/coffee, delectable snacks, and a sumptuous lunch to sustain you throughout the course. Your comfort and satisfaction are of the utmost importance to us. One week before the program begins, you will receive comprehensive joining instructions that include the exact venue details.
Please note that accommodation arrangements are the responsibility of the attendee.
Workshop Delivery (Online Programs)
The workshop will be delivered via the WebEx platform. Upon registration, all participants will receive comprehensive joining instructions for the live workshop. This fully virtual event will encompass a live-streamed presentation, personalized networking opportunities, interactive Q&A sessions, engaging polls, and post-event consultation to address specific concerns and support your continued growth.
In-Person Workshop
Please be advised that for all in-person training programs, joining instructions will be sent via email to registered participants one week prior to the program’s commencement. These instructions will provide comprehensive information regarding the venue location, date, and time, as well as other important details such as parking arrangements, dress code, and any necessary equipment or materials. Kindly ensure that you carefully review the joining instructions and follow the guidelines provided to ensure a smooth and well-organized experience during the program.
Changes to the conference
Shasat reserves the right, at its sole discretion, to make modifications to the format, speakers, participants, content, venue location, program, or any other aspect of the conference, at any time and for any reason, without incurring any liability. This policy has been implemented due to recent events such as the Covid-19 pandemic and other jurisdictional restrictions. These modifications may include but are not limited to, changes necessitated by a Force Majeure Event
We are pleased to offer sponsorship opportunities for our training programs, providing companies with a unique platform to showcase their brand and services to a highly engaged and relevant audience. By becoming a sponsor, your organization will have the opportunity to build brand awareness, demonstrate thought leadership, and cultivate valuable relationships with industry professionals. Our programs offer a platform to reach a targeted audience and generate new business leads while showcasing your expertise. The benefits of sponsorship include increased brand exposure, opportunities to connect with key decision-makers, and a platform to promote your products and services. We invite you to take advantage of this prime opportunity and partner with us to enhance your visibility and impact within the industry.
We kindly request that you carefully review all of the terms and conditions outlined on our website. This information is critical in ensuring a clear understanding of our policies and procedures. Please follow the link provided to access this information.
Discover more about Shasat by exploring our “About Us” page, where you can gain insights into our company’s mission, values, and history, and learn how we can help you achieve your goals.
Payment
Our training programs take place at the most prestigious professional training facilities in the city. Our venues have been meticulously chosen and expertly crafted to deliver an unparalleled and sophisticated learning experience. To further elevate your training journey, we will offer an array of refreshments including gourmet tea/coffee, delectable snacks, and a sumptuous lunch to sustain you throughout the course. Your comfort and satisfaction are of the utmost importance to us. One week before the program begins, you will receive comprehensive joining instructions that include the exact venue details.
Please note that accommodation arrangements are the responsibility of the attendee.
Workshop Delivery (Online Programs)
The workshop will be delivered via the WebEx platform. Upon registration, all participants will receive comprehensive joining instructions for the live workshop. This fully virtual event will encompass a live-streamed presentation, personalized networking opportunities, interactive Q&A sessions, engaging polls, and post-event consultation to address specific concerns and support your continued growth.
In-Person Workshop
Please be advised that for all in-person training programs, joining instructions will be sent via email to registered participants one week prior to the program’s commencement. These instructions will provide comprehensive information regarding the venue location, date, and time, as well as other important details such as parking arrangements, dress code, and any necessary equipment or materials. Kindly ensure that you carefully review the joining instructions and follow the guidelines provided to ensure a smooth and well-organized experience during the program.
Changes to the conference
Shasat reserves the right, at its sole discretion, to make modifications to the format, speakers, participants, content, venue location, program, or any other aspect of the conference, at any time and for any reason, without incurring any liability. This policy has been implemented due to recent events such as the Covid-19 pandemic and other jurisdictional restrictions. These modifications may include but are not limited to, changes necessitated by a Force Majeure Event
We are pleased to offer sponsorship opportunities for our training programs, providing companies with a unique platform to showcase their brand and services to a highly engaged and relevant audience. By becoming a sponsor, your organization will have the opportunity to build brand awareness, demonstrate thought leadership, and cultivate valuable relationships with industry professionals. Our programs offer a platform to reach a targeted audience and generate new business leads while showcasing your expertise. The benefits of sponsorship include increased brand exposure, opportunities to connect with key decision-makers, and a platform to promote your products and services. We invite you to take advantage of this prime opportunity and partner with us to enhance your visibility and impact within the industry.
We kindly request that you carefully review all of the terms and conditions outlined on our website. This information is critical in ensuring a clear understanding of our policies and procedures. Please follow the link provided to access this information.
Discover more about Shasat by exploring our “About Us” page, where you can gain insights into our company’s mission, values, and history, and learn how we can help you achieve your goals.
In-House Training
Enhance your team’s skills and drive success for your business with our custom In-house training program. Our tailored approach aligns with your specific business needs, offering a cost and time-efficient solution for upskilling your employees. This not only improves their productivity but also positions your company as a competitive force in the market. Transform your investment in employee development into tangible results by choosing our In-house training option. To discuss and learn more about our services, please don’t hesitate to contact our training desk. We’re ready to help you create a bespoke program that’s just right for you.
