24 – 27 May 2011 | Yogyakarta

22 – 25 Nov 2011 | Bandung

Overview

Production Sharing Contract is a unique concept for upstream business activities in Indonesia. The first PSC was implemented in Indonesia in 1966. Since then, development of the PSC Concept were complex and covered series of evidences in terms of legal, economics, and corporate taxation aspects. Effective November 2001 with the enactment of the Oil and Gas Law, there are tremendous changes in the development of PSC which now known as Cooperative Contract (KKS). Review of accounting principles and procedures, preparation of WP&B, AFE, POD, HARMONI III, as well as BPMIGAS FQR, are essentials. PSC Taxation is one of the topics that is very attractive to discuss.

This training is targeted to provide an understanding and mastering all aspects of the PSC financials operations including tax.

Objectives

After completing to this course you will:

• Gain a thorough understanding of PSC Accounting, Budgeting, Reporting and Taxation;
• Up dating your current understanding on all aspect of PSC Concept;
• Know how to perform and control day to day financial activities in your company;
• Be able to set up a strategic planning on all aspect of financial aspect including taxation;

Who Should Attend ?

This course is available for staffs working in Finance, Accounting, Budgeting, Tax, Cost Control, Financial Analyst, and other Department such as Legal, Administration, and Operation.

Course Content

Overview of Upstream Oil & Gas Business Process

• Legal Aspects of PSC / KKS:

1. oTerms and Conditions
2. oDevelopment of PSC

• PSC Cost Recovery Process:

1. oAnalysis of Cost Recovery Elements
2. oMethod of Recovery of Operating Costs
3. oCalculation of Production Sharing

Accounting Procedures

• Petroleum Accounting Principles:

1. oSuccessful Efforts
2. oFull Costs
3. oPSAK 29
4. oPSC Accounting Procedures

• Unitization
• Joint Interest Accounting

Budgeting Procedures & Process

• WP&B
• AFE
• POD

Reporting System & Procedures

• BPMIGAS - Financial Quarterly Report

PSC Taxation

• Legislations
• Lex Specialist
• Current Issues

Case Study

Course Leader

Drs. Moehardjo | Jamaluddin Siregar, BBA, Sth, Dipl Int’l Management, MBA