Duration: 2 Weeks

 

Course Objectives:

The is course aims to understanding of the language, arithmetic, philosophy, theory, and practice of international petroleum taxation, production sharing agreements, and the variety of arrangements and fiscal devices that exist in the world. The emphasis is on practical aspects of petroleum taxation and industry/government relationships.

Who Should Attend

Planners, accounting personnel in the oil and gas industry, policy makers.

Course Overview

- Introduction and classification of petroleum fiscal systems
- Royalty/tax systems, including modern royalty/tax systems
- Indonesian-type PSCs
- Peruvian-type PSCs
- Egyptian-type PSCs
- Risk service contracts
- Incremental production agreements
- Basic contract elements
- Successful efforts and full cost methods of accounting
- Depreciation, depletion, and amortization
- Reserve recognition accounting – booking barrels
- Sliding scales
- Decommissioning provisions