Accounting

Accounting Services

Accounting in the oil & gas and wider energy sector can be complex, with businesses managing multiple projects, assets, partners, contracts, cost centres and regulatory requirements. Maintaining accurate and timely financial information is therefore essential—not only for compliance, but also for effective financial and operational decision-making.

At MPCS, we understand that management teams need to focus on operations, project delivery, production, growth, profitability and long-term value creation, rather than being consumed by day-to-day accounting activities.

We provide flexible accounting support tailored to the nature and complexity of your business. Whether you require support with selected activities or a fully outsourced accounting function, we can work alongside your management team to strengthen your financial processes, controls and reporting.

Flexible Accounting Solutions

Our services can include:

• Partial or selective outsourcing of accounting activities
• End-to-end outsourcing of the accounting function
• Periodic preparation and reporting of financial statements
• Management reporting and financial analysis
• Project and operational accounting
• Remote maintenance and updating of accounting systems
• Support with financial processes, controls and reporting

Oil & Gas Accounting Expertise

Oil & gas accounting requires an understanding of both financial requirements and the operational activities that drive the numbers. Our experience enables us to support finance teams with activities such as:

• Joint Interest Billing (JIB) and partner billing processes
• Authorisation for Expenditure (AFE) tracking and accounting
• Well cost accounting and reporting
• Well cost and operational variance analysis
• Actual versus AFE analysis
• Joint venture and partner accounting
• Project and field-level cost reporting
• Revenue and production-related reporting
• Cost allocation and cost control
• Management reporting for projects, wells and operations
• Financial controls and reconciliation processes

These activities require accurate accounting combined with an understanding of the underlying operational and commercial drivers. Our objective is to ensure that financial information is not only accurate, but also meaningful and useful to management, partners and other stakeholders.

Accounting That Supports Better Decisions

For oil & gas and energy businesses, reliable financial information is critical to understanding project and operational performance, managing costs, monitoring profitability and supporting investment and strategic decisions.

Effective reporting can help management identify cost overruns, well variances, budget deviations and emerging financial risks at an early stage, allowing corrective action to be taken.

Well-maintained accounts therefore provide much more than regulatory compliance. They give management the information needed to evaluate performance, manage resources, improve profitability and make informed decisions about future operations and investments.

Energy Sector Experience

Our team’s experience across different industries, including oil & gas and the broader energy sector, enables us to bring practical insight into the financial and operational challenges faced by businesses in these industries.

We combine accounting expertise with our broader experience in audit, risk, governance and advisory services, allowing us to look beyond the numbers and consider how the finance function can contribute to stronger business performance and controls.

Let MPCS support your accounting function, so your management team can focus on operating and growing the business.