Effective Administration of Oil & Gas Production Sharing Agreements (PSAs)

The objective of this program is to develop PSA Professionals with skills to Administer these Contracts such as to Protect the Petroleum Production Project and their employer. For this purpose this program provides the PSA Contract Professional Certification participant the essential PSA Contract Understanding, Competencies, Skills, Process Knowledge and Management Guidance to perform his Professional Assignment in an effective, efficient, customer focused manner, always targeting towards Meeting the Unit and Organization Operational & Strategic Objectives. This is a comprehensive training program.

Exploring Petroleum for Production is Expensive, Needs Specialized Skills and Expertise, and the Risk of Not Finding Commercially Exploitable Reserves is Very High.

Generally, Government organizations are not tuned to perform effectively on such business ventures and resources may also be limited.

So the Government (acting under its National Oil Company NOCs) as the owner of the Underground Petroleum Resources hires an Exploration & Production (E&P) Contractor to Invest his own money, to do such exploration, bear all the risks, pay some fees for this right and data provided, and if commercially viable petroleum is found within a certain period, and extracted within another mentioned period, part Produced Oil will go to reimburse the Contractor for his Allowable Costs (Cost Oil) and from the remaining oil (Profit Oil) the government will take a percentage share of the petroleum (in place of royalties and taxes). Cost recovery is usually 50%+ of the production.

Many complexities are included in these arrangements and calculations. PSAs may have provisions to convert themselves to Risk Sharing Contracts at Option of the National Oil Companies NOCs.

The PSA Contract Conditions will be discussed in detail including Understanding the Contract Condition, its interpretation, enforceable changes that can be made to this condition, contract administration aspects, record keeping aspects, possible disputes and their resolution.

This program is intended for Production Sharing Agreement PSA Professionals, Managers, Auditors, Finance Departments, Government Auditors and Oversight Committee Members.

This program is also intended for Petroleum Accounting Professionals, Operational Auditors, Regulatory Agency Staff and Middle Managers.

1. Effective Administration of Oil & Gas Production Sharing Agreements (PSAs)
2. For Detailed Program Content Please Email psa575@eurotraining.com or Whatsapp +447424964861 with code psa575