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


Prerequisite Courses

None


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
Learning Goal

Participants should be able to:
• Understand the variety of arrangements and fiscal devices that exists in the world today.
• Understand the theory and practice of international petroleum taxation and production sharing arrangements between a host country and international oil companies.
• Develop an understanding of the relationship between accounting concepts and principles, and numerous fiscal systems in the international petroleum industry.
• Undertake practical fiscal system analysis and design.


Course Materials

Course notes