training@ipdc.co.id
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PSC Accounting & Financial Aspect in Production Sharing Contract (PSC) Course

No Date Location Register
1 09 - 11 Oct 2019 Jakarta Register
2 13 - 15 Nov 2019 Yogyakarta Register

OVERVIEW

The POD, WP&B, and AFE is one of control tools of SKKMIGAS in managing the activities of upstream oil and gas operation in Indonesia.

All of staffs especially the position which has an authority for spending the company fund must have a comprehensive understanding about the POD, WP&B and AFE. The objective of the POD, WP&B, and AFE as well as the administrative aspect must be understood correctly.

This full 3 days training program provides a concise and comprehensive learning modules on the application of POD, WP&B, and AFE in upstream oil industry and all Production Sharing Contract aspects in Indonesia. The modules are specially design for general participations, even for who do not possess PSC backgrounds. The program are wrapped in such a way to ensure easy understanding on the common application of finance and budgeting aspects and risks in Production Sharing Contract. It includes interactive sessions to explain and discuss the impacts of the industry and future industrial demands.

OBJECTIVE

 

At the end of the workshop, the participants will be  able to

  • Understand Production Sharing Contract (PSC)
  • Learn the main PSC fiscal terms and ensure project commercial success
  • Understand Production Sharing Contract Agreement in brief   and project economics in Indonesian PSC regime 
  • Define costs, cost recovery, and domestic market obligations under PSC Agreement 
  • Understand of Plan of Development (POD) in Development Stage of PSC 
  • Understand  Oil & Gas Investment Decision, Reserve and  Production
  • Enhance the knowledge and Economic Analysis and practice  of POD, AFE & WP&B within Indonesia PSC framework
  • Develop Proposal for POD, AFE and WP&B Program & Approval
  • Understand process and report of Closed Out  AFE.

COURSE CONTENT

Introduction

- Indonesia Oil & Gas Current Issues: Local government, cost recovery, ‘new SKKMIGAS’, Oil & Gas scarcity and political impact.

- New Regulations in Upstream Oil and Gas Industry in Indonesia

- The Nature of Oil and Gas Business

Indonesia Fiscal Systems and Gross Split Model (Newest Model)

 

Basic Concept of the PSC

- The PSC Terms and Conditions related to Financial Aspect

- Basic Concept of the PSC

- Principles for Understanding the PSC

 

- Operational and Economic aspects

- Accounting Principles

- Case Studies

 

PSC Accounting Aspect

Acquisition Costs; Exploration Costs; Development Costs and Production Facilities Costs; Production Costs; Supports facilities Costs

 

Operational Aspect Overview

Land acquisition aspects; Exploration aspects; Development aspects; Production aspects;  Financial aspects

 

Planning & Budgeting

- Grand Plan of the Operations

- Plan of Development (POD)

- Work Program and Budget Expenditure (WP&B)

 

- Authorization for Expenditure

- Project Economic

- Financial Analysis

 

Budgeting & Reporting Manual

 

- Budgeting and Reporting Procedures

- Exploration and Development

- Production Operation

- Administration; Supporting Information

 

Practice & Simulation of PSC Accounting & Financial Aspect in Production Sharing Contract (PSC)

Post Test; Lesson Learned and Evaluation

Commitment and Action Plan