Day 1
An introduction to production sharing contracts and upstream economic analysis
- The history and evolution of production sharing contracts (PSC’s)
- The basic PSC, contractor and government relationship
- The PSC structure, content and flowchart
The fundamentals of upstream economic analysis
- Discounted cashflow
- Discount rate, discount factor and discount method
- The cost of capital and the hurdle discount rate
- Capital budgeting techniques (NPV, IRR, DPIR, payback)
- Valuing an asset, making development & investment decisions
- Inflation, cost escalation, real versus nominal cash flows
- Managing and quantifying risk both deterministically and probabilistically
Day 2
Cost recovery
- Cost recovery mechanism
- Recoverable costs
- Cost oil, cost gas and NGL’s
- Excess cost recovery
- Cost recovery modelling in Excel
Cost recovery case studies: Angola, Indonesia, Equatorial Guinea, Egypt, Syria, Gabon
Profit sharing
- The profit pool
- Profit sharing
- Profit gas and profit oil
- Profit sharing modelling in Excel
Profit sharing case studies: Angola, Indonesia, Equatorial Guinea, Egypt, Syria, Vietnam
Bonuses
- Signature & commerciality Bonuses
- Production Bonuses
- Cost recoverability
- Bonus modelling in Excel
Bonus case studies: Gabon, Vietnam, Sudan, Oman, Syria
Sliding scale fiscal mechanisms
- Production rate sliding scales on production rate and volume
- R-Factor and rate of return methods
- Step versus incremental methods
- Influencing activity through sliding scales
Case studies: Angola, China, Equatorial Guinea, Bangladesh, Algeria, Nigeria, Sao Tome, Tunisia, Libya
Taxation
- The basis of the taxation liability
- The CT ring fence
- Chargeable income
- Capital allowances
- Liability and payment phasing
- The treatment of tax losses
- Tax holidays
- Taxation modelling in Excel
Case Studies: Cameroon, Albania, Sao Tome, Algeria, Indonesia, Mozambique, China, India, Jamaica, Cote d’Ivoire, Egypt, Libya, Cyprus, Gabon
Day 3
Ring fences
- PSC ring fence
- Taxation ring fence
- Ring fence calculations and examples
- Ring fences in a strategic context
Case studies: Cambodia, Cuba, Malaysia, Angola
The economics of PSC’s
- Contractor cash flow
- Government cash flow
- Cost carry arrangements
- Comparison with royal and taxation systems
- Optimisation of PSC terms
- Working interest vs entitlement
- The treatment of abandonment expenditure in PSC’s
Case studies: Algeria, Angola, Libya, Vietnam, Equatorial Guinea
Production Sharing Contract Fiscal Modelling Workshop
- A PSC based case study modelling the fiscal terms in Microsoft Excel(TM)
- Understanding the PSC fiscal structure and algorithms
- Determining the field, economic and fiscal data and building the input decks
- Step by step construction of the PSC model
- Running the economic cases and evaluating the results
- Analysis of the sensitivities
- Electronic copy of model solution provided to delegates
Summary and closing remarks
27-29 Nov 2013 (London, UK)
18-20 Jun 2014 (London, UK)
26-28 Nov 2014 (London, UK)
This Euromoney Energy Training course examines the roles of benchmarking and performance monitoring through key performance indicators and the analysis of business models.
15-18 Jul 2013 (Paris, France)
A 4-day intermediate training course providing effective training in the critical considerations and conditions for successfully concluding Gas and LNG Sales Agreements. The course will enable you to gain an insight into the way in which Buyers and Sellers view and negotiate Gas and LNG Sales Agreements, and will give you a detailed understanding of the terms that are important in these transactions.
16-19 Dec 2013 (London, UK)
This Petroleum Company Performance Management training course has been designed to offer personnel from corporations and financial institutions a full complement of tools to use most effectively in developing and analysing the corporate performance measures for oil and gas companies.
19-23 Aug 2013 (London, UK)
11-15 Aug 2014 (London, UK)
This Euromoney Energy Training course provides a comprehensive overview of the oil and gas industry from upstream exploration and production to downstream refining, sales and marketing. You will gain an appreciation of industry dynamics and the key issues affecting its development and future. This course will provide a thorough foundation for understanding the changing industry dynamics.
16-18 Oct 2013 (London, UK)
12-14 Feb 2014 (London, UK)
15-17 Oct 2014 (London, UK)
This Euromoney Energy Training course provides a comprehensive overview of the oil and gas industry from upstream exploration and production to downstream refining, sales and marketing. Under the guidance of our expert course faculty, participants will gain an appreciation of industry dynamics and the key issues affecting its development and future.
10-12 Jul 2013 (Paris, France)
This 3-day Euromoney Energy Training course will give you an in-depth understanding of the problems and solutions in unit formation, negotiation of participation factors and operating agreements. The role of governmental agencies in consent and oversight will also be discussed.
26-29 Aug 2013 (New York, United States)
This 4 day International Oil & Gas Contracts course is specifically designed for professionals involved internationally in the oil and gas industry, it offers a unique opportunity to rapidly increase your understanding of the legal issues involved in various UK and international scenarios and to improve your techniques and skills in drafting a variety of international contracts.
24-27 Jun 2013 (London, UK)
9-12 Dec 2013 (London, UK)
This practical Euromoney Energy Training course will enable delegates from all technical and commercial disciplines to understand the theories and methods used to value oil and gas projects. The four-days will reveal the fundamental aspects of upstream petroleum economics and risk analysis. Through computer-based exercises, participants will construct economic models, incorporating relevant cash flow data for case study projects and scenarios.
8-10 Oct 2013 (Singapore)
This course explores the structure and mechanisms of production sharing contracts (PSC's) for upstream oil and gas projects. Studying the underlying processes and commercial drivers, participants will examine case studies to illustrate the economic structure of these complex agreements.
2-4 Dec 2013 (London, UK)
14-16 May 2014 (London, UK)
3-5 Dec 2014 (London, UK)
Euromoney Energy Trainings Petroleum Sales Contracts course is designed to give attendees a comprehensive understanding of crude oil, natural gas and refined products markets and the sales contracts that are utilised for transactions through the supply chain.
17-19 Sep 2013 (London, UK)
This course explores the structure and mechanisms of production sharing contracts (PSC’s) for upstream oil and gas projects. Studying the underlying processes and commercial drivers, participants will examine case studies to illustrate the economic structure of these complex agreements.
14-16 Oct 2013 (London, UK)
This 3 day Upstream Oil and Gas Acquisition and Divestment course will explain how upstream oil and gas assets are traded from both buyer and seller perspectives.
The course includes references to failed and successful deals and provides valuable insight into how to conclude successful transactions.
The principles of Licensing Rounds, Farm In and Farm Out processes are explored as well as key industry processes underpinning these transactions. It includes assessment of case studies, and an element of group work based on an “acquisition and divestment opportunity” where buyers and sellers meet to consider an opportunity and to “close a deal”.
18-21 Nov 2013 (Singapore)
People coming to energy risk management for the first time are taken aback by the extreme market conditions that are commonplace in the complex markets of oil, coal, and above all, gas and electricity. Levels of volatility and basis risk are unprecedented: and there are additional risks that are unique to energy. This course shows delegates how to deploy traditional risk management tools in the challenging context of volatile energy markets, and to extend these techniques to master the unique risk characteristics of gas and electricity.
18-20 Sep 2013 (London, UK)
19-21 Mar 2014 (London, UK)
17-19 Sep 2014 (London, UK)
This 3 day course concentrates on a review and analysis of energy trends over the next 20 years. While predicting future energy trends can be fraught with uncertainties, attention is given to reviewing and analysing a variety of key market drivers, applying sensitivities and discussing probable outcomes.
9-12 Dec 2013 (London, UK)
For operator drilling contractor and service company personnel that desire a specialised familiarisation, understanding and comprehension of Deepwater Drilling Operations, equipment, processes, systems and activities.
24-28 Jun 2013 (London, UK)
Featuring 3–individually bookable modules:
- Upstream development & production
- Mid-stream pipelines & LNG projects
- Downstream oil refineries & petrochemical plants
- Including: 16 key industry case studies to improve your understanding
2-5 Sep 2013 (London, UK)
This course illustrates the critical role drilling provides in the expanding offshore oil and gas sector. Offshore drilling hardware, technologies, rig equipment and systems components are explained in the context of offshore exploration, appraisal and development drilling.
28 Oct 2013 - 6 Nov 2013 (Hong Kong)
This course will enable participants with skills to identify and analyse prospective borrowers, structure credit facilities, and prepare credit applications for formal presentation and approval by bank credit committees. These skills can be used by the origination teams and credit teams of lenders and to support organisations which run or sponsor projects.
9-12 Sep 2013 (London, UK)
This four day training course is specifically designed for
professionals involved internationally in the oil and gas
industry, it offers a unique opportunity to rapidly
increase your understanding of the legal issues involved
in various international scenarios and to improve your
techniques and skills in drafting a variety of
international contracts.
14-17 Oct 2013 (London, UK)
This 4-day course is designed to introduce both lawyers and nonlawyers alike to the understanding of how contracts in the oil & gas industry actually work and how to avoid and manage disputes.
16-20 Sep 2013 (London, UK)
This 5-day course is designed to introduce both lawyers and nonlawyers alike to the theories and practice of international commercial and investment arbitration in the oil & gas industry.
9-12 Dec 2013 (London, UK)
This four day training course is specifically designed for professionals involved internationally in the oil and gas industry, it offers a unique opportunity to rapidly increase your understanding of the legal issues involved in various
international scenarios and to improve your techniques and skills in drafting, reviewing, and executing a variety of
international contracts.
2-5 Dec 2013 (London, UK)
This 4-day course will equip delegates with a critical understanding of why and how the law with respect to upstream and downstream oil and gas operations is rapidly changing, in view of the increasing importance of environmental and sustainable development issues.
21-24 Oct 2013 (London, UK)
14-17 Apr 2014 (London, UK)
Four-day workshop that comprises reviewing, analysing and discussing the key elements of joint venture agreements and alliances, business relationships and their operational implementation.
10-11 Jun 2013 (London, UK)
This 2-day course is designed to introduce both lawyers and non-lawyers alike to the key techniques, tools and strategies of successful negotiation of contracts in the energy sector.
15-17 Jul 2013 (London, UK)
This 3-day course is designed to introduce both lawyers and nonlawyers alike to the understanding of how to arrange and manage EPC contracts and how to avoid and manage disputes.
15-18 Jul 2013 (London, UK)
4-7 Nov 2013 (London, UK)
7-10 Jul 2014 (London, UK)
3-6 Nov 2014 (London, UK)
4 days of course modules that focus on the review and examination of the key elements of the supply chain from upstream activities of exploration, development and production through transportation to downstream sector that involves trading, refining, petrochemicals and final distribution to the consuming markets.
22-25 Sep 2013 (Riyadh, Saudi Arabia)
This practical Euromoney Energy Training course will enable delegates from all technical and commercial disciplines to understand the theories and methods used to value oil and gas projects. The four-days will reveal the fundamental aspects of upstream petroleum economics and risk analysis. Through computer-based exercises, participants will construct economic models, incorporating relevant cash flow data for case study projects and scenarios.
28-31 Oct 2013 (Johannesburg, South Africa)
This 4-day course is designed to introduce both lawyers and nonlawyers alike to the understanding of how contracts in the renewable industry actually work and how to avoid and manage disputes.
11-13 Nov 2013 (Doha, Qatar)
This 3-day course is designed to introduce both lawyers and nonlawyers alike to the understanding of how to arrange and manage EPC contracts and how to avoid and manage disputes.
25-26 Nov 2013 (Kuala Lumpur, Malaysia)
This 2-day course is designed to introduce both lawyers and non-lawyers alike to the understanding of how Procurement Strategy for the Oil & Gas Industry actually works. This course is delivered by combining a substantive legal understanding together with a practitioner's perspective.
17-20 Jun 2013 (London, UK)
This 4 day International Oil & Gas Contracts course is specifically designed for professionals involved internationally in the oil and gas industry, it offers a unique opportunity to rapidly increase your understanding of the legal issues involved in various UK and international scenarios and to improve your techniques and skills in drafting a variety of international contracts.
9-12 Dec 2013 (New York, United States)
This 4-day course is designed to introduce both lawyers and nonlawyers alike to the understanding of how contracts in the renewable industry actually work and how to avoid and manage disputes.
9-12 Sep 2013 (Singapore)
This 4-day course is designed to introduce both lawyers and non-lawyers alike to the understanding of how Procurement Strategy for the Oil & Gas Industry actually works. This course is delivered by combining a substantive legal understanding together with a practitioner's perspective.
Objectives
The objectives of the conference will be to
provide a practical understanding
• Provide an understanding of the tendering and contracting process
• Provide an understanding of techniques to avoid collusion or corruption during the tendering process
• Develop an understanding of ways to select bidders
• Show how to develop Invitations to Tender, and how to manage the tendering process
• Understand and manage the negotiation process
•
Who should attend
• Tender or Bidding Managers
• Contract Administrators
• Contracting Unit Supervisors
• Project Engineers and Project Managers
• Business Audit Officers
• Contract Strategists
• General Managers involved in developing contracts or contract negotiation
24-27 Jun 2013 (Dubai, United Arab Emirates)
This 4-day course is designed to introduce both lawyers and nonlawyers alike to the understanding of how contracts in the oil & gas industry actually work and how to avoid and manage disputes.
21-24 Dec 2013 (Riyadh, Saudi Arabia)
This 4 day International Oil & Gas Contracts course is specifically designed for professionals involved internationally in the oil and gas industry, it offers a unique opportunity to rapidly increase your understanding of the legal issues involved in various UK and international scenarios and to improve your techniques and skills in drafting a variety of international contracts.
24-27 Jun 2013 (London, UK)
The Energy Risk Management: Mastering Volatile and Complex Markets course is a comprehensive and systematic introduction to risk management for complex energy markets. The course will detail why and how risks in energy – particularly gas and electricity - are more acute than in other traded market sectors, and how classic risk management techniques must be adapted and extended to meet these demanding conditions.
23-26 Sep 2013 (Rio de Janeiro, Brazil)
This 4-day training course will enhance your understanding of the legal issues involved in production sharing contracts and to improve your negotiation techniques.
3-5 Jun 2013 (New York, United States)
This Petroleum Company Performance Management training course has been designed to offer personnel from corporations and financial institutions a full complement of tools to use most effectively in developing and analysing the corporate performance measures for oil and gas companies.
5-8 Nov 2013 (Dubai, United Arab Emirates)
This is a practical & interactive course with the aim of developing a clear & critical understanding of the wider macroeconomics of business, including topical economic developments and policy decisions spanning a range of countries of interest to participants.
18-22 Nov 2013 (Accra, Ghana)
Attend Euromoney Energy Training's 5-day training course on Upstream Economics & Fiscal Modelling School featuring two modules:
1. Upstream Petroleum Economics & Risk Analysis
2. Optional Module covering the Nigerian Upstream Fiscal System and Petroleum Industry Bill.
11-14 Jun 2013 (Paris, France)
This is a practical & interactive course with the aim of developing a clear & critical understanding of the wider macroeconomics of business, including topical economic developments and policy decisions spanning a range of countries of interest to participants.
2-4 Dec 2013 (Dubai, United Arab Emirates)
This 3-Day accelerated course offers a wide array of tools and techniques to fully understand and effectively manage the Supply Chain Value of the Oil and Gas industry. This course is designed to suite the wide background of delegates.
21-24 Oct 2013 (London, UK)
This 4-day training course will enhance your understanding of the legal issues involved in production sharing contracts and to improve your negotiation techniques.
28-31 Oct 2013 (Mumbai, India)
This 4-day training course will enhance your understanding of the legal issues involved in production sharing contracts and to improve your negotiation techniques.