Course Description
This program is intended for empower participants such that they can control and recover costs in a Production Sharing Contract (PSC) and Service Contract types in oil and gas exploration and production operations.
Participants will learn the mechanisms that enables them to question, query and enforce strict adherence and compliance to cost booking, so that they can effectively ensure adequate cost recovery even where there is no cost recovery ceiling (limit) in the contract terms or fiscal regime.
Each participant will be able to query cost items and highlight errors in cost bookings thereby building the true basis for cost minimization and cost recovery after attending this course.
The program will be taught in an interactive environment with case studies.
The major highlights and what participants will learn in this program include the following:
- To enhance understanding of Costing in Budgeting and Control.
- To enable a better understanding of resource rent and the economics of cost recovery.
- Accruals and cash budgeting and how each affects cost recovery.
- The ways to ensure that PSC/SC Contractor Internal Control mechanisms are applied for cost control purposes.
- AFE Administration as cost auditing tool for effective cost control.
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