The training course on the lease and contract auditing of PSAs and PSCs offered by Imperial Corporate Training Institute is an extensive course for oil and gas professionals that provides the necessary skills and knowledge needed to perform lease audits and complete full reviews of contracts to determine regulatory compliance and improve operations. It also gives students practical experience with auditing PSAs/PSCs, giving them the ability to identify any errors in records, reduce exposure to risk, and improve financial oversight.
The course is an integrated approach that utilises both theoretical teaching and practical applications, which gives a complete understanding of different lease agreements, how costs are allocated, and how contract clauses are written. Students will develop skills to evaluate compliance, authenticate financial documents, and implement best practices for contract audits, enabling them to provide value-added support to their organisation with regards to auditing and compliance. The programme has been developed specifically for finance, legal, and operations personnel working within the oil and gas sector.
Objectives
By the end of this course, participants will be able to:
- A lease audit basically checks if a signed Contract (PSA/PSC) is being followed and how a Company is operating within the Contract.
- Reviewing Contracts thoroughly to ensure there are no violations or inefficiencies, and determine if the Contract is being complied with all regulations.
- Finding and correcting errors in Financial/Operational records.
- Utilising different acquisition/recovery techniques on costs, revenue sharing, and joint venture operations.
- Analysing how to manage risks associated with oil and gas Contracts .
- Providing Management with actionable recommendations based on Audit findings.
Target Audience
The Course was designed for:
- Oil and Gas Professionals
- Lease Management, Contract Administration, and Financial Operations .
- Auditors, Accountants, and Financial Analysts looking to improve their skills in Lease Auditing.
- Legal and Compliance Officers responsible for ensuring contracts met the requirements.
- Project Managers and Operational Staff dealing with PSA/PSC Contracts .
- Consultants and Advisors providing specific services relating to Oil and Gas Agreements.