Overview:
Level: Intermediate/Advanced
Run for over 30 years, this world famous course continues to be an outstanding success, providing participants with an intimate knowledge of petroleum upstream fiscal systems. Topics include: royalties, production sharing, concessions, joint venture agreements, service agreements, administration of fiscal systems, and standalone vs. incremental analysis.
The course is interactive and relies on two powerful economic Excel spreadsheets designed by Dr van Meurs. With these spreadsheets, participants will understand how various economic factors can impact a fiscal system from both the government and corporate points of view. Participants will receive a subset of the petroleum fiscal software used during the course. This provides a “starter-kit” to solve fiscal issues after completing the course.
By Attending This Course You Will Understand:
• The nature and details of all the important fiscal features in the world
• The wide variety of fiscal systems based on concessions, production sharing contracts, joint ventures, service contracts and other arrangements
• The underlying economic characteristics of the various fiscal systems
• Advanced economic analysis based on Excel spreadsheets
• How government policies impact on fiscal systems
• Competitive worldwide frameworks for investing in the oil & gas sector
• Future trends in petroleum fiscal terms
The knowledge gained equips participants in negotiating better contracts and concessions, identifying the best investment opportunities and gaining practical, up-to-date experience from “real-life” examples.
Who Should Attend:
The course is suitable for a wide range of professionals in the oil and gas industry, government, finance and other organisations. This includes:
• Government officials
• Country managers external affairs
• Managers
• CEOs & CFOs
• Tax advisers fiscal issues planners
• Legal counsels
• License administrators
• Negotiators
• Executive strategy planning managers
• Portfolio managers
• Commercial advisers
• Accountants
• Business development corporate
• New ventures managers
• Engineers geophysicists
• Lawyers
• Economists business analysts
Course Leader: Pedro van Meurs
Course Outline
1. Introduction
2. Bonuses, Rentals, Royalties
3. Corporate Income Tax
4. Production Sharing
5. Profit Oil and Sliding Scales
6. Joint Ventures and Carried Interest
7. Progressive and Special Taxes Profit Shares
8. Value Added Taxes, Import Duties and Property Taxes
9. Service Contracts
10. Incremental Analysis
11. Classification of Fiscal Systems
12. Structure of Government Take
13. Level of Government Take
14. Risk Sharing
15. Resource Policies
16. Personal Action Plans Economic Policies
17. Administrative Policies
18. Internal Distribution of Government Take
19. Worldwide Future Trends
Course Cost: £3,399
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