Faculty:FASE
Department: Accounting, Banking and Finance
Department: Accounting, Banking and Finance
Type of the workshop: National workshop
The workshop in brief: Other information about the Event:
The objective of the workshop is to equip attendees especially the students with valuable insights and general knowledge of Kurdistan oil and gas sector operations and accounting practices.
Participants: 63
Date and time: May 13, 2024, from 10:00 AM
Place: Tishk International University_ Main Building, Hall # 401
Place: Tishk International University_ Main Building, Hall # 401
Session topics:
1. 10:00-10:45
2. 10:45-12:30
1. 10:00-10:45
2. 10:45-12:30
Presenters names and affiliations:
1) Dr. Ghousia Khatoon, Professor and Head, Department of Accounting, Banking & Finance
Participants gained insights into the sectorial classification of Kurdistan oil and gas industry and the sources of generating oil and gas, which include both offshore and onshore activities. In the first Session, the participants were exposed to the significance of Oil and Gas Sector in Kurdistan and its contribution towards the economy. The second session delved into the contractual frameworks applicable to oil and gas operations in Kurdistan, highlighting various agreements such as concessions, production sharing contracts, joint venture agreements, and indigenous contracts. Participants gained a deeper understanding of the roles and responsibilities of stakeholders involved in these arrangements. Participant also learned the critical role of accounting in oil and gas operations, pointing out oil and gas accounting methods such as successful effort and full cost, with an analysis of their implications on financial reporting and investor’s perceptions. Finally, participants explored opportunities for investment in the Kurdistan oil and gas sector, considering factors such as taxation, royalty rates, and reserve availability.
1) Dr. Ghousia Khatoon, Professor and Head, Department of Accounting, Banking & Finance
2) Dr. Armayau Alhaji Sani, Lecturer, Department of Accounting, Banking & Finance
Outcome of the workshop:
Participants gained insights into the sectorial classification of Kurdistan oil and gas industry and the sources of generating oil and gas, which include both offshore and onshore activities. In the first Session, the participants were exposed to the significance of Oil and Gas Sector in Kurdistan and its contribution towards the economy. The second session delved into the contractual frameworks applicable to oil and gas operations in Kurdistan, highlighting various agreements such as concessions, production sharing contracts, joint venture agreements, and indigenous contracts. Participants gained a deeper understanding of the roles and responsibilities of stakeholders involved in these arrangements. Participant also learned the critical role of accounting in oil and gas operations, pointing out oil and gas accounting methods such as successful effort and full cost, with an analysis of their implications on financial reporting and investor’s perceptions. Finally, participants explored opportunities for investment in the Kurdistan oil and gas sector, considering factors such as taxation, royalty rates, and reserve availability.
