This course is designed to give participants understanding and better picture as to how the PSC (Production Sharing Contract) for Petroleum (oil&gas) industry applied in Indonesia. Participant will be walked through the steps of understanding the basic philosophy of PSC agreement, and at the same time will be explained the lightly of technical aspects of activities in G & G, drilling, production facilities, financial economics etc. for informations please read: PSC Accounting and Taxation
Afterward the course which discusses the financial budget and reporting procedures manual, including AFE, WP & B, FQR, participants will be explained thoroughly the POD economics calculation complete with case studies respectively.
COURSE OBJECTIVE
- To enable participants to closely understand the PSC exhibit “C” related to PSC financial aspect.
- Have a better understanding that AFE, WP & B, FQR and the related cost recovery, could significantly affects the contractor share and government share respectively.
In general, knows more of the technical and economics aspect of oil & gas industries.
Learn
After Completion of this workshop, the participants are expected to :
- Understanding of the entire process and knowledge of from budget to year end actual PSC financial reporting system.
- Ability to apply the introduced and taught concept and practices relevant to participant that best fit company’s PSC finance and economics framework.
- Ability to apply financial tools techniques that will allow the participants the impact of finance and economics transactions.
Supply the participants with confidence to successfully navigate the intricacies of from work program and budget including AFE to year end PSC financial quarterly report (FQR) oil and gas companies to the overall effectiveness of their companies effort.
COntent Course:
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Ø Budget ( Annual, AFE, POD) · What is budget · Budget function · Type of budget Ø Budget in oil & gas company · G & G · Capital Expenditures ( Exploratory wells, Development wells, Development Facilities,Facilities,Warehouse stock) · Operating Expenditures ( Department Cost Centers, Special well repairs,Abandonment & Site restoration, Insurance, Administrative Overhead) · Barrel Plan & Price Forecast
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Ø Cost Recovery · Non Capital · Capital & Prior year unrecovered operating Costs · Oil & Gas Allocation Ø Gross PSC Revenue, FTP & Investment Credit · Equity Share · Domestic oil obligation · Budgeted Entitlement · SKKMIGAS’S work program & budget · SKKMIGAS’S monthly provisional Entitlement · AFE ( Authorization Financial Expenditures) · Midyear Review Budget & Revised Budget · Accruals, Cash settlement & government tax · FQR ( Financial Quartelly Report) |
