![PRODUCTION SHARING CONTRACT BUDGETING, REPORTING, & AUDIT FOR OIL & GAS INDUSTRY [TRAINING O](/images/berita/46Productio_sharing_contrcat,_butgething.jpg)
SCHEDULE : 15-17 JUNI 2020
PLACE : YOGYAKARTA
DURATION : 3 DAYS
DESCRIPTION
This course is designed to give participant understanding and better pictures as to how the PSC (Production Sharing Contract) for Petroleum (oil and 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.
COURSE OBJECTIVES
- How To Construct an oil and 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 and gas project development, execution, and operations.
COURSE CONTENT
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 AND GAS COMPANY
- Capital Expenditures (Exploratory wells, Development wells, Development Facilities, Facilities, Warehouse stock)
- Operating Expenditures (Department Cost Centers, Special well repairs, Abandonment and Site Restoration, Insurance.
OIL AND GAS ACCOUNTING AND FINANCIAL REPORTING OPERATIONS
- Oil and 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 and Accounting Implications
- Oil and Gas Revenue Accounting
- Work Program and Budgeting (WP&B)
- Authorization for Expenditure (AFE)
- Accounting Reports
- Accounting Implications of Carried Interests and Reporting Processes
BUDGETARY CONTROL
- Financial Planing & Budgets
- Operated vc Non-Operated Budgets
- Budgets Analysis
- Budgetary Control (Including Variance Analysis, Project costreporting & control)
- Budgeting is key for annual report/financial statement
- Lifecycle budgeting process
- Budgeting expenses (zero based, activity based, fund, purchasing)
- Budgeting and cost technique ( forecasting method, impasse analysis, trend analysis)
AUDITING
- Legal Basis
- Steps of General Audit and Mining Audit
- Assertion of Financial Report
- Worksheet .
INSTRUCTOR
Solid Corporat Trainer (contact us)