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

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,…