Course description
Introduction to Upstream Fiscal Regimes
This section will allow delegates to understand main components and differences between different upstream fiscal regimes.
Modeling a Concession Agreement
This section will allow delegates to learn how to evaluate and model royalty/taxation regime. The topics will be illustrated through working through a generic model (instructor led) and then delegates will practice the concepts with a case study.
Modeling a Production Sharing Agreement
This section will allow delegates to learn how to evaluate and model PSA/PSC The topics will be illustrated through working through a generic model (instructor led) and then delegates will practice the concepts with a case study.
Do you work at this organisation and want to update this page?
Is there out-of-date information about your organisation or courses published here? Fill out this form to get in touch with us.
Upcoming start dates
1 start date available
Suitability - Who should attend?
- New hires who have joined the firm late and missed the in-house program
- Individuals looking to fill a knowledge gap
- Experienced bankers looking to refresh their technical skills
- Teams employed in financial strategy roles from non-banking corporations
- Graduates preparing to interview for a role in the finance sector
- Students at business school and looking for a career in finance
Outcome / Qualification etc.
Introduction to Upstream Fiscal Regimes Learning Outcomes
- Royalty/tax system
- Production sharing contracts/production sharing agreements
- Risk contracts
- Technical service agreements
Modeling a Concession Agreement Learning Outcomes
- Cash flow components under royalty (concession) regime
- Revenue: production profile, commodity prices and price differentials
- Non fiscal outflows: capex, opex, abandonment
- Fiscal outflows: royalty, rentals, bonuses, income tax (and related tax allowanced for depreciation and tax loss carried forward)
- Economic limit adjustments
- Financial indicators: IRR, breakeven, maximum exposure, NCF per barrel, NPV per barrel, profit to investment ratio (undiscounted and discounted basis. real vs. nominal cash flows)
- Contractor ‘take’ vs. Government ‘take’
- DCF valuation for the field
- Case study: European tax/royalty field (a hypothetical example)
- Ring fencing vs. consolidation
Modeling a Production Sharing Agreement Learning Outcomes
- Royalty
- Cost Oil
- Profit Oil
- Abandonment costs in PSC
- DCF valuation for the field
- Economic limit adjustments
- Financial indicators: IRR, breakeven, maximum exposure, NCF per barrel, NPV per barrel, profit to investment ratio (undiscounted and discounted basis. real vs. nominal cashflows)
- Contractor ‘take’ vs. Government ‘take’
Request info
Ads