Valuation and Risk Analysis of Oil & Gas Assets
Category:
Petroleum / Oil & Gas
Tanggal
26-28 Juli 2010
Jam Pelaksanaan
09.00-17.00 WIB
Tempat
Ibis Slipi Hotel
Jakarta
Pembicara / Fasilitator
Ir. M. Tavip Sunandar, MM, PMP
Harga
Rp.5.250.000,-
per participant, excluding accommodation & tax.
COURSE OUTLINE
INTRO TO ASSET AND VALUATION
- Definition of Oil and Gas Assets
- Why is valuation important?
- Physical and Monetary Asset Accounts
- The Investment Decision and lifecycle of E&P activities
- Investors & Host Country Business Views
- Introduction to PSC and its Terms
ASSET ECONOMIC VALUATION METHODOLOGY
- Present Value
- Net Present Value
- Payback Period
- Internal Rate of Return
- Investment Efficiency
- Project Life Cycle Cash Flow
- Capital and Operating Expenditures
OIL AND GAS ACCOUNTING BACKGROUND AND METHODS
- Successful efforts and full cost accounting
- Interests Accounts (i.e. royalty, working interest, overriding royalty interest)
- Classification and Treatment of costs
- Acquisition and Retention Costs
- Exploration and Development Costs
- Amortization of Proved Property Costs
- Disposition of Oil & Gas Assets
- Impairment of Oil & Gas Assets
- Asset Retirement Obligations
- Revenues and Production Costs
- DD&A rules
MINIMIZE RISK AND MONETIZE THE OPPORTUNITY IN STRATEGIC INVESTMENTS
- Options in Exploration & Production (E&P)
- Option to Delay (Timing Option)
- Abandonment Option
- Option to Expand the Production
- Types of Uncertainties in E&P
- Technical Uncertainty
- Economic/Market Uncertainty
- Strategic Uncertainty
- Revelation of the true value
- Valuation of Exploratory Prospect
- Prospect Valuation and Revelation
- Prospect Valuation under Uncertainty
REAL OPTION MINDSET
- Valuation is as Real Options Mindset
- Real Options as a Series of Decisions
- Applications of Real Options Mindset
- Real Options: Change the perception of value
- Linking Value Assessment to Signposts/ Actions to Deliver the Value
- Metrics vs Decision Criteria
UNDERSTANDING INDONESIA PSC ECONOMICS
- Interpret Indonesia PSC Project economics
- Optimize expenditures through economic advantages
- Value Risks Management along Project Life Cycle
- PSC Cash Flow mechanism
- PSC Term & Incentives: FTP;Cost recovery; DMO; Bonuses, Tax
- Workshop/Exercises Entitlement Calculation
- Incentives and how does it work (Investment credit, DMO Holiday, ICR)
- Incentives for Marginal and brown field, EOR / water flood, new field and green field)
