Budget, A Tool To Compute & Monitor Reliable PSC Entitlement
April, 10th – 12th 2013 – Phoenix Hotel Yogyakarta
COURSE OBJECTIVES
As per the subject course title named, participants will be walked through the steps of budget preparation for each of the budget items, and at the same time will be explained lightly of the technical aspects of activities in G & G, drilling, special well repairs etc. To the closing of the course which discusses the PSC entitlement calculation, participants will be explained thoroughly of monthly lifting monitoring format, a monitoring tool that has been set up by BPMIGAS and Contractor in an attempt to arrive to close to zero (over)/under lifting status at year end. After attending this course , participants able:
· To enable participants to compile better budgeting
· In general, knows more of the technical aspects of oil and gas industries
· Have a better understanding that lifting, price and cost recovery could significantly affect entitlement
COURSE CONTENT
- Budget
- What is budget, its function and type of budget
- Budget in oil & gas company
- G & G
- Capital Expenditures
- Exploratory Wells
- Development Wells
- Development Facilities
- Facilities
- Warehouse Stock
- Operating Expenditures
- Special Well Repairs
- Abandonment & Site Restoration
- Insurance
- Departmental Cost centers
- Administrative Over Head
- Barrel Plan, Reserves & Price Forecast
- Cost Recovery
- Non Capital
- Capital & Prior Year Unrecovered Operating Costs
- Oil & Gas Cost Allocation
- Gross PSC Revenue, FTP & Investment Credit
- Equity Share
- Domestic Oil Obligation
- Budgeted Entitlement
- BPMIGAS’ Work Program & Budget
- BPMIGAS’ Monthly Provisional Entitlement
- AFE (Authorization for Expenditures)
- Midyear Review Budget & Revised Budget
- Accruals, Cash Settlement & (Over)/Under Tax Payment
PARTICIPANT
Accountants, Supervisors, Budgeting staffs, Product Movement staffs, Lawyer, Engineer and other professionals