25 - 28 Oct , 2011

COURSE OVERVIEW

A-4 day training program on an integrated and comprehensive  of understanding, applying and interpreting the complexities of technical aspect, financial reporting, particularly WP & B, AFE and POD  for Indonesia Oil & Gas industries. At end of the program,  participants will possess a thorough understanding of the requirements and regulations in the respect to the technical aspect, financial and budget reporting in the Indonesia PSC finance and accounting framework.

Current development and complexities  of upstream of  oil & gas industry in Indonesia and therefore it is essential for those oil & gas professionals who are working in planning, operation, finance, budgeting and accounting areas to understand the entire process of WP & B, AFE and POD. In addition, the understanding should also covered with various apects of approval process for future planning and on-going projects and operations.

Participants are guided going through all procedures for POD, WP & B and AFE, including aspect of it’s PTK that was indtroduced in June 2010;  the arrangement details of the work program and budget into budget schedule (BS-1-17);  and how to plan projects into the 18-26 budget schedule.

The program will feature:

• Rigorous review of the relevant WP & B, AFE and POD standards that will provide attendees with a comprehensive view of the complexities inherent in technical aspect, finance and accounting for Indonesia oil and gas industries.
• Detailed discussion and analysis of the subject matters.
• Knowledge updates that will enhance participants ‘s understanding of WP & B, AFE and POD as a strategic tool for managing financial and budgeting aspects and functions.

COURSE OBJECTIVES

• Understanding of the entire process and knowledge of WP & B, AFE and POD
• Ability to apply the introduced concepts and practices relevant to participants that best fit their company’s PSC finance, technical aspect and accounting framework.
• Ability to apply financial tools and techniques that will allow the participants the impact of finance and accounting transactions
• Supply the participants with the confidence to successfully navigate the intricacies of POD, WP & B and AFE and other oil and gas accounting and contribute to the overall effectiveness oftheir companies effort 

TRAINING METHODOLOGY

This training is highly participative, using a mixture of workshop leaders led:

• Discussions
• Lectures
• Case studies: featuring detailed case studies that illustrate preparation, submission and approval.
• Simulation and Practice

WHO SHOULD ATTEND?

Most participants are  manager, senior staff, supervisor and  senior-level staff who are working in the oil & gas upstream operation or has roles in working with planning, operation, project management, finance, accounting or taxation areas.

TOPICS COVERED

• Upstream Oil and Gas Activities and Process in Indonesia
• Upstream Oil and Gas Regulation and Policies pertaining to the field development programs 
• The Philosophy of  applying  the WP & B,  AFE, and POD as a control system within the  upstream Oil & Gas business activities
• MIGAS Law No. 22, 2001
• Various applied PSC terms and conditions
• Aspects to be considered in preparation for proposing and submission of  
• Work order Principles, s, Tehnical Guidelines and Mechanism POD, AFE and WP & B 
• Update on latest knowledge on Production Sharing Contract Agreement (PSC)
• Indonesia PSC Accounting Principle and Practice : 

1. oSuccessful Effort, Full Costing and Reserve Recognition Accounting;
2. oType of cost: capital VS non capital; exploration budget
3. oDrilling & development budget
4. oProduction & facilities budget
5. oGeneral administration and support activities budget

• Work Program & Budgeting (basics, functions and explanation each budget schedule and the allignment and linkage between the budget schedule 1-17)
• Budgeting and Expenditure of Project C: AFE Process, Reporting and Close Out (the explanation of  
• Project Economics, Evaluation and Risk Analysis

COURSE LEADER