Oil and Gas Accounting MSc

Masters in Oil and Gas Accounting

1. Overview

The MSc Oil and Gas Accounting is a new postgraduate course designed for you to develop specialist knowledge and skills specifically for a career in the oil and gas industry.

The course will enable students to develop a critical awareness of the key issues in accounting for upstream oil and gas exploration, development and production activities and is delivered by respected academics with relevant industry experience. They include Professor Alex Russell, Chair of Oil Industry Finance Association which is associated to Oil and Gas UK. The Oil Industry Finance Association sets the Standard Oil Accounting Procedures and advises on the short and long form accounting procedures for use in the oil industry.

The MSc Oil and Gas Accounting is accredited by The Association of International Accountants (AIA) and the Energy Institute.

2. What you will study

The structure of this course combines generic finance modules with industry specific modules. In Semester 1 students study two of each of these and work in Semester 2 further develops the finance and industry specific skills. The skills required to undertake an extensive study into a particular aspect of oil and gas accounting will also be developed during this semester. These are essential in Semester 3 when each student will be required to prepare and produce a self-directed dissertation.

The course will develop your knowledge of the theory and practice of accounting, audit and financial management for oil and gas activities from an international perspective. It also provides an understanding of the industry as, in collaboration with industry, the course has been meticulously designed to meet the demands of the sector and to tackle a full range of topics.

Semester 1

Semester 2

Semester 3

Award: MSc Oil and Gas Accounting

3. How you will learn

Full-time Study
In full time mode, you will learn through a combination of lectures, seminars and workshop sessions. These comprise of a mix of group study, discussion, simulation and presentations of findings by teams and individuals. You will work as an individual and also as part of a team on case studies, team activities, presentations and discussions. 

Teaching is a mixture of case studies, simulations, guest seminars, lectures, tutorials, computer labs, video footage, and individual or group work. Access to our virtual learning environment, CampusMoodle, is also provided giving you access from home to the learning materials (including videos, e-books and journals).

Course Benefits: You will gain practical skills in analysis, synthesis, evaluation and problem solving, through active simulation assignments and group discussions in seminars and tutorials culminating in the dissertation. We aim to produce independent thinkers who are ready and able to face the complexities and challenges of oil and gas accounting faced by organisations. Overall, you will learn to:

  • Develop an understanding of the organisational behaviour of companies involved in financial, commercial and contractual activities in the North Sea and world-wide oil and gas industries.
  • Critically evaluate the reporting practices of international upstream oil and gas exploration and production companies
  • Recognise the key issues in accounting for Joint Venture Operations
  • Develop a structured methodology for conducting Joint Venture and Multi-Venture audits
  • Utilise Petroleum Economics in Field Development and life incremental projects
  • Review and interpret key industry financial ratios and develop key performance indicators
  • Identify the challenges of Corporate Financial Management

4. Entry requirements

A good honours degree in any numerically orientated degree. Applicants having a degree or degree equivalent qualification and relevant work experience may also be considered, as may qualifications from approved professional accountancy bodies such as ACCA and CIMA.

All international students, for whom English is not their first language, must provide evidence of linguistic ability, by gaining either IELTS 6.5 or its equivalent in TOEFL.

Please note, UKVI are currently not accepting TOEFL as proof of English Language for Full Time International Student Visas.

English Language Requirements

5. Placements and accreditations

The MSc Oil and Gas Accounting course is accredited by The Association of International Accountants (AIA), the Energy Institute and the Chartered Quality Institute.

6. Student Funding

Merit Scholarship
Aberdeen Business School offers a number of merit scholarships to our outstanding students. The scholarship is available to 

  • international students who will study the course by full time and distance learning and pay for the fees at the international rate; or
  • UK or EU students who study the course by full time and the fees are set in excess of 6,000 GBP; or
  • UK or EU students who will study the course by distance learning.

To find out more information on Merit Scholarship.

Alumni Discount

Robert Gordon University is delighted to offer a 15% loyalty discount on course fees for all alumni who have graduated from RGU, further information available via the Alumni page.

7. Course Fees

For Academic Year 2014/2015

UK/EU Students

  • £6,000 entire course

International Students

  • £12,000 entire course

For Academic Year 2013/2014

UK/EU Students

  • £5,000 entire course

International Students

  • £11,000 entire course

For Academic Year 2012/2013

UK/EU Students

  • £4,625 entire course

International Students

  • £10,500 entire course

For Academic Year 2011/2012

UK/EU Students

  • £4,500 entire course

International Students

  • £9,500 entire course

All course fees are reviewed annually and subject to change. Published fees apply to the course's mode of delivery.

For further information see Student Finance pages


8. How to apply

Application Form

If you have any queries, please contact our Admissions Office: 

If you are an International Student and would like further information and application advice:

Further details are also available from Course Leader:

Karen Lund
Aberdeen Business School
Robert Gordon University
Garthdee Road
Aberdeen AB10 7QE

Tel: +44 (0)1224 263928
Email: k.m.lund@rgu.ac.uk

9. Prospects

A postgraduate qualification in Oil and Gas Accounting provides the graduate with extensive opportunities for a career with local, national and international companies in the fields of oil and gas accounting, finance and economics.

The course structure will provide a breadth of coverage to allow graduates to pursue a variety of roles and careers in the oil and gas industry within, for example, oil and gas companies, government departments or regulatory bodies, consulting and research companies.

There are a wide number of opportunities for graduates who are properly equipped with a broad range of professional, technical and subject-specific skills. There are a number of roles addressing the different aspects of oil and gas finance, accounting, audit, economics, financial analysis, benchmarking and intelligence.

For those who are new to accounting, this course will allow you to develop the practical skills, knowledge and understanding required to enter into and develop your career within the accounting profession.

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Start date
Course length
3 semesters
Mode of Attendance
Academic school
Aberdeen Business School
More information:
Karen Lund Senior Lecturer
+44 (0) 1224 263928
Accredited By
The Association of International Accountants (AIA) Energy Institute Accredited Course

University pathways at ICRGU - Pre-Master's


The International College at Robert Gordon University (ICRGU) offers entry into the MSc Oil and Gas Accounting at Robert Gordon University for International Students.

“The key factor that has eased my performance on the job is the MSc, which provided me with the core skills and knowledge required in the oil and gas industry, and experience of working in teams and developing my interpersonal and communication skills.”

Adizat Adi Oil and Gas Accounting MSc KPMG Advisory Services

Robert Gordon University, Garthdee House, Garthdee Road, Aberdeen, AB10 7QB, Scotland, UK: a Scottish charity, registration No. SC013781