From a shifting regulatory landscape to limited international capital market access & significant cash flow restraints, oil and gas companies are facing greater challenges than ever before. However, here in Turkey there are still petroleum right holders which are investing in the oil & gas sector. The new Petroleum law (No: 6491) with low government royalty rates, VAT exemptions and Custom exemptions as well as the Petroleum Market Law with government purchase guarantees, encourage investors to explore in Turkey. MAPEG (Mining and Petroleum General Directory) regulates the sector with special reporting requirements and a list of monthly, quarterly and annual documents that need to be filed with them.

Accounthink is committed to helping oil and gas companies better prepare for what’s to come by both managing today’s obstacles and identifying tomorrow’s opportunities. Our teams include accountants, auditors, dedicated professionals who bring in-depth knowledge and years of experience to this sector.

Accounthink can provide one complete solution for;

1. Key advisory on the Petroleum Law
2. MAPEG reporting
3. Government Incentive programs
4. Joint Venture review for Oil &Gas businesses
5. Joint Venture Billing
6. Oil Price & Government Royalty Calculations
7. Custom requirements
8. Budgeting
9. Financial Modelling
10. Payroll
11. Book-keeping
12. Financial reporting
13. Local tax
14. International tax
15. Transfer Pricing

We work with a variety of oil and gas companies (Canada, US and Turkey based), including upstream oil and gas companies, oilfield services companies through every stage of the project lifecycle.