Imperial Corporate Training Institute offers Production Sharing Agreement Compliance Audit Training Course. The course offered on Production Sharing Agreement Compliance Audits teaches professionals how to carry out an audit in the production sharing agreement area of the oil and gas industry. Participants will study all aspects of a production sharing agreement, including the various types, types of agreement structures, regulations, international standards, auditing methodology/procedures and performance evaluations associated with these agreements to ensure that they comply with both the law and financial commitments.
The course consists of theory and practice. Through the combination of these two aspects, delegates will gain an understanding of the complexities involved in the compliance audit process, the necessary steps for effective compliance auditing, risk assessment methods, and mechanisms for effective reporting. Finally, after completing the course, delegates will have the ability to evaluate the contracts to which they are a party, ensure compliance with contract terms and applicable regulations, and thereby support accountability and compliance with their operational activities.
Objectives
By the end of this training, participants will be able to:
- To assist participants in determining the structure, purpose, and key elements of production contracts
- To enhance practical skills related to performing thorough compliance audits of production sharing agreements
- To assist in identifying and mitigating contractual and regulatory risks associated with operations in the oil and gas industry
- To establish and implement financial and operational audit procedures
- To develop a comprehensive audit reporting mechanism that supports both corporate governance and regulatory compliance
- To establish and further strengthen internal controls while adhering to best practices in the industry as they relate to production sharing agreements.
Target Audience
This course is designed for those professionals working as:
- Compliance Officers/Internal Auditors within the oil and gas sector.
- Legal/Contract Management Professionals that manage production contracts.
- Finance Professionals that monitor production sharing agreements.
- Risk Management Specialists/Operational Managers that will benefit from gaining audit and compliance experience.
- Individuals preparing for Internal Audits and/or Regulatory Inspections in the oil and gas sector.