About this role
- Produces annual budgets which may cover operations, maintenance, transportation and other support activities
- Prepares financial forecasts and monitors expenditure against these forecasts
- Produces financial reports from accounting systems and analyses reports
- Calculates financial accruals
- Undertakes reconciliations
- Collates information for statutory returns
- Reports any breaches of safety procedures to supervision / management
- Actively participates in and promotes company health and safety campaigns, policies and procedures, and ensures personal safety and that of colleagues at all times
In the industry
Every business has to produce company or statutory accounts (tax, VAT, payroll) which report on the financial dealings and health of the company. In the oil and gas industry, there are very strict tax rules and regulations and it is vital that companies comply with these requirements.
Accountants play a key role in helping organisations to achieve this compliance. Most organisations within the oil and gas sector will employ in-house Accountants including the Operators who own or manage production installations, major Engineering Contractors, Drilling Contractors and specialist service companies. In additional major accountancy firms will also employ specialist oil and gas accounting teams.