Domain Specific Job Skills
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PSA575-1D
1 Week Training Program
Oil & Gas Production Sharing Agreement (PSA) Contract Administration Skills
Building Skills in
Contractual Risks & Arrangements on PSAs
Contract Administration Responsibilities on PSAs
Gaining Correct Understanding of the Contract Provisions
Correct way to Analyze & Calculate Party Obligations
Effective Documenting and Record Keeping of Contract Events
Considered & Informed Management Decisions to Exercise Contract Options
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What is Covered in this Training?
This Production Sharing Agreement (PSA) Contract Training Builds Professionals who will have the Understanding, Process Knowledge, Skills, Competencies, Management Insights, including Leadership, they will need to become True Expert Professionals in this area.
The objective of this program is to create PSA Professionals with competency 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 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.
Program Topics mentioned below will be discussed in great detail to ensure the participants gains a full Multi-Discipline Multi-Stakeholder Latest-Technology Equipped Understanding of the Processes he will be required to Understand, Plan, Execute, Supervise or Improve.
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 Production Sharing Agreement (PSA) Contract Training Builds Professionals who will have the Understanding, Process Knowledge, Skills, Competencies, Management Insights, including Leadership, they will need to become True Expert Professionals in this area.
The objective of this program is to create PSA Professionals with competency 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 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.
Program Topics mentioned below will be discussed in great detail to ensure the participants gains a full Multi-Discipline Multi-Stakeholder Latest-Technology Equipped Understanding of the Processes he will be required to Understand, Plan, Execute, Supervise or Improve.
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.
Who Should Attend?
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.
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.
Program Content & Modules
Oil & Gas Production Sharing Agreement (PSA) Contract Administration Skills
Business Aspects of Petroleum Production Sharing Agreements (PSAs)
PSA Stakeholders and their Expectations
Legal & Regulatory Aspects of PSAs
PSA Operational Objectives
Discussion on PSA Possible Problems, Leakages, Inefficiencies and Solutions arising from lack of Company or Regulatory Control over the PSA Process
Understanding PSA Contract Conditions
Nature of the relationship between the Parties
Duration of the Agreement
Exploration Period Administration
Production Period Administration
Operator Administration
Petroleum Operations Procedures Document Administration
Costs and expenditures Administration
Recovery of costs and expenditures Administration
Production sharing Administration
Lifting and disposal of Crude Oil Administration
Petroleum Operations Responsibilities Administration
Exploration Work Plans and Budget Administration
On Commercial Discovery Administration
General Development and Production Plan Administration
Development and Production Budget Administration
Production Planning Administration
Guarantee Administration
Determining Contribution Administration
Conservation of Petroleum Administration
Records, reports and inspection Administration
Contractor Groups Owner-Crude Administration
Processes to Administer Crude Oil disposal
Unitization and Joint Development Administration
Transfer and abandonment of assets Administration
On Natural Gas Production Administration
Owner Risk Administration
Operating Committee Administration
Ownership of assets Administration
Ownership and confidentiality of data Administration
On Losses or damages Administration
Petroleum Operations risk management Administration
Processes for Recruitment, integration and training of Local personnel
Processes for Double taxation and change of circumstances
Assignment of Responsibility Process
Termination of the Agreement Process
Confidentiality of the Agreement Process
Dispute resolution Administration
On Force Majeure Administration
Processes Applicable law & Language
Processes about Local Offices
Process for Service of Notice
Processes to Ensure Project Effectiveness
Project Closing Administration
Lessons Learnt Administration
Project Administration Recommendations
Program Recommendations
Personalized PSA Contract Administration Improvement Outline Action Plan