Online Training – Basic Understanding PSC Accounting

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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Topik Training	: Online Training – Basic Understanding PSC Accounting
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