Training Field of Development, Budgeting & Risk Assessment

 

 

Petroleum Industries in Indonesia are managed by the Government of the Republic of Indonesia, under Law No. 22 / 2001.  Control system built up by BPMIGAS is done through pre control system, current control system and post control system. In the financial scope  those system applied as  auditing system, consist of pre audit, current  audit  and  post  audit. To perform these auditing system, BPMIGAS published a Financial Reporting  Procedures Manual, consists of  Work  Program & Budget Manual, Authorization Financial Expenditures Manual, Financial Quarterly Report Manual  and  POD control system.

Plan of Development (POD) is the key point in the Oil and Gas business of Indonesia Upstream Oil and Gas project. POD is a guideline for the Contractor (KKKS) to operate their project. There is a planning program that describe of project activities during the contract. KKKS also should construct the detail of Program Activities and Budgeting (WP&B), and Authorization for Expenditure (AFE). In the Indonesia PSC Term, WP & B, AFE and POD is the integrated aspect that every “Contractor” should propose to BP. Therefore, between BP Migas and the Contractor should have the same perception all about aspect of POD, AFE and WP&B especially about the basic principle, mechanism and procedure, system and operational guidance.

Associated with development, there are many things to do in the intensification of activities, including a qualitative increase in activity in the field of exploration, both in the form of regional studies, field geology, geophysics, seismic, drilling of exploration and evaluation. In addition, also performed quantitative increase in production as field development, construction of production facilities, reservoir studies and field production ever. Risk Management and Assessment in this condition very important role in the implementation of activities.

 

1. OBJECTIVES

 

These 3 days training  program is  intended to gain  more understanding focuses on :

• Developing proposal of Work Program & Budget (WP & B)
• Developing proposal of APE & POD for Approval
• Developing Competitive advantage by improving operation efficiency
• Analyzing Risk Management aspect in field Development

 

III. OUTLINE

1. The Development Process
2. Financial Budget & Reporting Procedure
3. Work Program & Budget
4. Authorization for Expenditure
5. Financial Reporting
6. Cost to be Recovered
7. Entitlement
8. Government Tax
9. Cash Settlement

 

 

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