National Workshop on “Harnessing Energy: An Exploration of Oil and Gas Sector Operations and Accounting Practices in Kurdistan Region”
Department of Accounting, Banking and Finance, Faculty of Administrative Sciences and Economics at Tishk International University organized an enlightening national workshop on “Harnessing Energy: An Exploration of Oil and Gas Sector Operations and Accounting Practices in Kurdistan Region” on 13th May 2024. 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. The participants of the workshop include the students and staff of the Faculty. The workshop commenced with the welcome and introduction of resource persons by Ms. Sara Jalal, the Research Assistant.
The first speaker Dr. Ghousia Khatoon, Professor and Head of the Department addressed the participants on the significance of oil sector in Kurdistan Region which is a great source of revenues to the Government and it provides career opportunities to many. She also threw light on its contribution towards the economy.
The second session by Dr. Armayau Alhaji Sani, Lecturer, Department of Accounting, Banking & Finance 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.
The workshop concluded with the closing remarks by Mr. Karwan Sherwani, Vice Dean, Faculty of Administrative Sciences and Economics, Tishk International University. He also presented the certificate of appreciation to the resource persons.
