Valuation and Risk Analysis of Oil & Gas Assets

in Bandung,Chemical, Oil and Gas

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)


Instructor
Ir. M. Tavip Sunandar, MM, PMP

Ir. M. Tavip Sunandar, MM, PMP graduated from Chemical Engineering Bandung Institute of Technology (1988). He then joined with ARCO Indonesia as a junior engineer. Graduated from Magister Management (MBA) of Prasetiya Mulya Bussiness School. More than seventeen years experience in the Project Management area. He is PMP (Project Management Proffesional) credential holder. Since 2000 his position is as a Senior Project Manager BP Indonesia. His experience includes managing multiple West Java and Pagerungan Projects 2000 – 2003. He was responsible in full project cycles: Appraise – Select- Define – Execute- and Operate. He managed four Project Management Teams , 12 to 20 engineers and multiple contractors. He was also the Project Leader for Pagerungan Inlet Compression Project Define – Execute- and Operate. Currently he is the Project Manager of BP Tangguh Platform Project. Very experienced instructor for various training & courses in Project Management.

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