MSc Oil and Gas Accounting

The MSc Oil and Gas Accounting is a new postgraduate course which will provide you with the opportunity to develop specialist knowledge and skills specifically designed for a career in the oil and gas industry. It offers a blend of theory, experience and the practical skills required for effective financial management within the 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).

This structure of this full-time 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.

Semester 1

• International Oil and Gas Accounting
• Oil and Gas Management
• Financial Information and Decision Making
• Quantitative Methods for Finance

Semester 2

• Research Methods
• Corporate Financial Management
• Petroleum Economics and Asset Management
• Oil and Gas Management Accounting

Semester 3

• Dissertation

Award: MSc Oil and Gas Accounting

You will develop your knowledge on the theory and practice of accounting, audit and financial management for oil and gas activities from an international perspective and gain an understanding of the industry issues. In collaboration with industry, this course has been meticulously designed to meet the demands of the sector and tackles a full spectrum of topics.

You will be taught via a mixture of; case studies, simulations, guest seminars, lectures, tutorials, computer labs, video footage, group work and individual activity. You will also 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.

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

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.

English Language Requirements

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

Merit Scholarship

The Merit Scholarship applies solely to those intending to study for the full course (i.e. through to completion of MSc) and is not available if you plan to only complete the Certificate or the Diploma stage.

The award can be up to £2000 for the duration of the course and instalment plans can be negotiated with the Student Finance team for the payment of fees. Find out more information on both Merit Scholarships and Scholarships and Funding.

All course fees are reviewed annually and subject to change.

Application Form

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

• Email PGOffice@rgu.ac.uk
• Call +44 (0) 1224 262132

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

• Complete our International Enquiries form
• Call 0044 1224 262726
• Email international@rgu.ac.uk

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.