Study On The Operating Side Accounting Of PSC Mode Of The International Oil Cooperation

Economic development has led to the growth of energy consumption. Petroleum resource is non-renewable and extremely uneven distributed, and oil development requires a certain technology and capital investment, which makes the international oil cooperation essential. With the efforts of countries around the world, International oil cooperation has formed an effective working procedures and cooperation. Production Sharing Contract(PSC)is commonly used as a model of international oil cooperation, which played an important role in the international oil cooperation. However, so far, there has not yet formed production sharing modelaccounting process, and the parties to the contracthave divergent interests, lack ofeffectiveaccounting methods, which easily led interest dispute when the PSC was used by our oil company. Therefore, establishing a complete set of operation side accounting method of production-sharing mode, which is favorable to the "go out" practice of China's three major oil companies, and it can also meet the demand of improving of petroleum accounting system.This paper outlined the research background, research significance and research status,and then introduced the basic theory of production sharing accounting and stakeholder pattern,which set up a theoretical foundation for the establishment of the operating side accounting system of the PSC. Secondly, this papertook X project as an example for the application of overseas projectstatus and problems of the operating side accounting in specific cases. Which has found thatlacked ofa complete set of operating side accounting system of the PSCin the practical application,and thecurrent calculation methodof PSC conflicted with the accounting standards, andthe stakeholder pattern of production sharing modelrequired coordinated. Then,this paper built up a complete set of operating side accounting system of the PSC including contractpreparation,the development of oil and gasproduction,oil and gas division andthe end of the contract, which took thecharacteristics of PSCinto account, combined with thefront ofthe theoretical basis. Last but not least, in order toguarantee the effective running ofPSCworkof accounting system, this paper presents the corresponding protection measures.