The PSA and PSC contract performance and audit training course provided at Imperial Corporate Training Institute has been specifically developed for individuals in the oil and gas industry that are tasked with working with PSA’s (Production Sharing’s Agreement) and PSC’s (Production Sharing Contract). It will provide participants with detailed knowledge about contract performance monitoring, evaluation and assessment of compliance related to contracts.
The course will incorporate practical auditing techniques and industry standards in order for participants to develop the necessary expertise to effectively perform their contracts while reducing or eliminating financial and operational risks associated with the contract.
Participants will receive hands-on experience regarding audit framework and how to identify any deviations from the contract and take corrective action. Participants will also focus on applying best practices in audit related to real-world scenarios, so that attendees will leave with usable knowledge about contract oversight, how to optimize their operations’ efficiency, and how to comply with regulatory requirements.
Objectives
Attendees will be able to:
- Study the basic concepts of PSA/PSC’s responsibilities and perform the duties outlined in the contract.
- Develop the skills needed to monitor, measure and report on how well the contract is being performed.
- Apply audit methodologies to assess risk, deviation or non-compliance when executing the contract.
- To add structure and improve the effectiveness of decision-making based on performance assessment methods.
- Implement ways to maximise efficiency while still complying with all regulatory requirements.
- Gaining real-world experience with financial, operational and legal aspects of oil and gas contracts.
Target Audience
- Contract managers and contract administrators in the oil and gas sector
- Audit/Compliance Professionals
- Financial Controllers / Operational Managers responsible for managing PSA / PSC’s
- Legal Advisors / Consultants assisting in the execution of contracts
- Anyone who wants to improve their contract performance appraisal methodology and knowledge of audit methodologies