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Our Upcoming Trainings

WP&B, FQR, POD, PIS, AFE and AFE Closed out
WP&B, FQR, POD, PIS, AFE and AFE Closed out

Mon, Jan 13

|

Indonesia

WP&B, FQR, POD, PIS, AFE and AFE Closed out

This course is designed to give participants (concentrated on the secretaries and administrative personnel), an understanding and better picture of how the AFE, WP&B, POD, and FQR which are prepared and compiled in the OIL & GAS companies to be submitted to SKKMIGAS.

Time & Location

3 more dates

Jan 13, 2025, 7:00 PM – Jan 15, 2025, 11:00 PM

Indonesia

About The Training

OVERVIEW

This course is designed to give participants (concentrated on the secretaries and administrative personnel), an understanding and better picture of how the AFE, WP&B, POD, and FQR are prepared and compiled in the oil & gas companies to be submitted to SKKMIGAS.

Participants will be walked through the steps of AFE descriptions, and at the same time will be explained slightly regarding the activities of G&G, drilling, OIL & GAS reserves, onshore and offshore, production facilities, etc.

Afterward, the course will discuss slightly the Financial and Economics of POD, including all costs incurred in the AFE, WP&B, and FQR, as a Managerial control system done through the “Budgeting Procedures Manual” that had been set up and published by SKKMIGAS. The discussion will all be related to the Cost Recovery and the yearly Contractor Share and Government Share respectively.

OBJECTIVE

  • Enable participants to understand the process of preparing the AFE, WP&B, and POD
  • Have a better understanding that those four control systems could affect the PSC performance in Indonesia.
  • In general, knows more about the PSC activities in Indonesia.
  • Understanding of the entire process and knowledge of  AFE preparation, Work Program, Budget (WP & B), POD proposal, and FQR.
  • Supply the participants with more confidence to successfully navigate intricacies as of from technical to economical knowledge and compare to other OIL & GAS PSC, and contribute to the overall effectiveness as a control system of their company effort.

COURSE CONTENT

1. General Knowledge

  • AFE (Authorization Financial Expenditures)
  • AFE related to the Petroleum Industry.  Consists
  • of G&G studies, Seismic surveys, Drilling, and Production
  • Facilities, onshore and offshore.
  • WP & B ( Work Program and Budget )
  • POD  (Plan of Development)
  • FQR  (Financial Quarterly Report)

2. PSC Budgeting

  • Financial Budget included AFE for G & G, Seismic / Survey
  • Tangible and Intangible cost in Exploratory Drilling and
  • Development Drilling.
  • Capital and capital cost in Exploration,
  • Development, Production, and General Administration.
  • Operating Cost, Depreciation, and Cost Recovery
  • Fiscal Terms in Indonesia
  • Abandonment and Site Restoration
  • Insurance
  • Administrative Overhead, Technical Services.
  • Interest Recovery

3. POD

  • Lifting, Barrel,  MMCF, MMBTU, and Price Forecast.
  • Gross PSC Revenue, FTP, and Investment Credit.
  • Current Year Cost and Unrecovered Operating Cost
  • OIL & GAS cost.
  • Budgeted and Year-end entitlement.
  • Equity share, Conventional and Unconventional PSC.
  • Domestic Market Obligation.
  • Financial Budget and Financial Quarterly Report.
  • Monthly Provisional Entitlement.
  • Midyear review Budget, Revised Budget, and Current
  • Outlook.
  • Government Tax Entitlement percentage.
  • Oil & Gas reserve, OOIP, OGIP, Recoverable reserves.
  • Trustee Paying Agent.
  • POD for OIL & GAS by field.
  • Slightly review of Gas is not Oil, shale gas, CBM, LNG,
  • CNG, LPG, etc.

Practice and simulation of WP&B, FQR, POD, PIS, AFE, and AFE Closed out

Post Test; Lesson Learned and Evaluation

Commitment and Action Plan

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