TRAINING PSC BUDGETING & REPORTING

TRAINING OIL & GAS ACCOUNTING AND FINANCIAL

TRAINING HOW TO DEVELOP CAPITAL BUDGETS AND ALLOCATE CAPITAL

DESKRIPSI

This course is designed to give participants understanding and better picture as to how the PSC (Production Sharing Contract) for Petroleum (oil&gas) industry applied in Indonesia. A budgeting process and control is more than a row of numbers. It is a tool for establishing priorities of action, determining program content, and exercising control of operations. This workshop focuses on budgeting process and control from a company and departmental viewpoint, operating as a cost center, and using the information for budgetary decision making and establishing the a control.

OBJECTIVE COURSE :

How to construct an oil & gas budget, process and control to maintain the best performance of the company.
How to develop capital budgets and allocate capital
Learn about financing alternatives available to oil and gas companies
How to develop the company’s cost of capital
What are the various financial issues associated with oil & gas project development, execution and operations.

MATERI TRAINING

PRODUCTION SHARING CONTRACT AN UPDATE

Overview of Business Process of Oil and Gas Industry
PSC Term and Conditions : Current and prospect
Introduction to PSC and Cost Recovery Mechanism

BUDGET IN OIL & GAS COMPANY

Capital Expenditures ( Exploratory wells, Development wells, Development Facilities,Facilities,Warehouse stock)
Operating Expenditures ( Department Cost Centers, Special well repairs,Abandonment & Site restoration, Insurance,
Administrative Overhead)

OIL & GAS ACCOUNTING AND FINANCIAL REPORTING OPERATIONS

Oil & Gas (E& P) and Cost Classification, Ascertainment, & Treatment of Costs
Accounting Principles (including Accounting Methods) & Financial Policies in Relation to O&G Upstream Operations
E & P Operations Funding Arrangements & Accounting Implications
Oil & Gas Revenue Accounting
Work Program & Budgeting (WP&B)
Authorization for Expenditure (AFE)
Accounting Reports
Accounting Implications of Carried Interests and Reporting Processes

BUDGETARY CONTROL

Financial Planning & Budgets
Operated vs. Non-Operated Budgets
Budgets Analysis
Budgetary Control (including variance analysis, project cost control, production cost reporting & control)
METODE

Presentation, discussion, Case study, Evaluation, Pre test & post test