Online Training – Basic Understanding PSC Accounting

Online Training – Basic Understanding PSC Accounting

April 5, 2021

Jadwal Pelatihan Online Training – Basic Understanding PSC Accounting

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DESCRIPTION

PSC Accounting Course, The most important event in the operations of an oil and gas company is the discovery of reserves. Consequently, estimated reserves quantities are relied upon heavily in oil and gas accounting. For example, reserve quantities are used in computing depreciation, depletion, and amortization (DD&A) using the unitsof production method and for purposes of complying with disclosure requirements.

A deep understanding of expenditure that will be recoverable through cost recovery mechanism is a mandatory to avoid unnecessary losses in upstream operations. This course will explain the elements of costs that classified as recoverable costs, how to calculate and allocate amongst the products. Depreciation methods, capital and noncapital expenditures, tangible and intangible cost are example of items that will be elaborated in this course. The discussion will also cover First Tranche Petroleum (FTP), Before-tax contractor share, Cost Recovery, Profit Oil, Income Tax, Net Cash Flow, State Take, Domestic Market Obligation (DMO).

 

PURPOSE

After attending this course, the participants are expected to be able to:

  1. Understand the concept and practical knowledge of the Cost Recovery and Equity Split Mechanism between State and Oil and Gas
  2. Companies, or Economics of Production Sharing Contract.
  3. Understand the process of calculation and allocation of operating costs.
  4. Understand how to calculate the share of production and how the incremental costs will affect the net contractor share.
  5. Understand the Basic Philosophy of the Integrated Financial Aspect
  6. Understand of the Fiscal Aspect of Oil & Gas Law Foundation, Fiscal Aspect of Oil & Gas Law Foundation, Fundamentals of Exploration Agreement, Taxation and its Implications on the Field Development Economic Calculation

 

OUTLINE

  1. Petroleum Operation Investment Consideration
  2. Economic Consideration of Exploration Aspect
  3. Field Development
  4. Field Operation
  5. Selling Price Issue
  6. Income Sharing Issue
  7. Principals in Oil & Natural Gas Exploration Agreement
  8. Land Acquisition
  9. Control Mechanism of Host Country Operation
  10. Mineral Right Ownership
  11. Financial Aspect of Oil & Gas Law Foundation and Land Acquisition
  12. Process in Indonesi
  13. Production Sharing Contracts
  14. Basic Principals
  15. Management Control
  16. Financial Aspect
  17. Accounting Procedure
  18. Development of Production Sharing Contract Generation
  19. Concession Agreement
  20. Work agreement Contract
  21. Production Sharing Contract
  22. Technical Assistance Contract
  23. Contract Production Sharing
  24. Joint Operating Agreement
  25. Financial and Economic Aspects of Production Sharing Contracts
  26. First Tranche Petroleum (FTP)
  27. Investment Credit
  28. Domestic Market Obligation (DMO)
  29. Income sharing
  30. Operation Costs
  31. Comparison of Accounting Methods
  32. Successful Effort
  33. Full Costing
  34. Production Sharing Contract
  35. Incentive Package and its Implication
  36. Oil & Gas Mining Taxation
  37. Case Study
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