The Imperial Corporate Training Institute will be conducting an extensive, industry-based PSA/PSC Revenue Assurance & Auditing Training Course, specifically aimed at developing a thorough understanding of Revenue Assurance mechanisms in PSA / PSC within the Oil and Gas sector. The current trend indicates that the requirements for Accurate Revenue Verification and Transparent Financial Reporting, Good Auditing Methods, continue to increase as it relates to Upstream Oil and Gas operations, with a particular focus on revenue streams associated with Natural Gas Production. Therefore, through this course, learners must leave with applied factual knowledge of how revenues are generated, allocated, reported, and audited under PSA/PSC Revenue Assurance mechanisms, and maintain compliance with the terms of the contract and with the relevant Regulatory Authorities.
Through the use of traditional and contemporary auditing techniques, the training course provides the participants with a holistic approach, covering financial and operational aspects of the Oil and Gas industry, as well as the contractual foundation upon which the Upstream value chain is built. As a result, participants will be equipped with the knowledge, skills and abilities required to identify potential Revenue Leakage, Evaluate the Integrity of Production Data, and conduct Systematic Audits to protect the interests of both the Sovereign and Contractors. This program will allow the participants to strengthen their Technical Competence related to Revenue Assurance and will incorporate into the training: (i) International Best Practices; and (ii) Industry Standards that are currently evolving globally.
Objectives
Attendees will be able to:
- Understand the basic concepts of PSA and PSC contracts, how they are structured, and how they affect the generation of revenue.
- Develop a comprehensive knowledge of the principles of revenue assurance in connection with upstream oil and gas operations.
- Enhance your ability to conduct audits of revenue streams for oil and gas production.
- Gain an understanding of the methods and mechanisms by which cost recovery is achieved and how these influence the calculation of revenues.
- Recognize the common revenue leakage risks associated with the use of PSA/PSC agreements.
- Utilize audit techniques to confirm production volumes, pricing and entitlements to revenue.
- Develop your ability to interpret the financial statements and production reports that are generated by the PSA/PSC audit process.
- Strengthen your capacity to reconcile production data to sales and revenue records.
- Ensure that your organization’s revenue assurance practices are consistent with those of international oil and gas audit standards.
- Assist in making informed decisions by providing accurate verification of revenue and the associated audit results.
Target Audience
- Revenue assurance professionals in oil and gas companies
- Petroleum economists and financial analysts
- Internal and external auditors specializing in oil and gas
- Government officials involved in petroleum revenue management
- National oil company professionals
- Energy sector accountants and finance managers
- Contract administrators managing PSA/PSC agreements
- Compliance and risk management professionals
- Legal and commercial advisors in upstream oil and gas
- Professionals seeking specialization in oil and gas training courses related to revenue assurance