London

  • 9.00am - 5.00pm

  • 1 day (non-exam)

  • Use any version of MS Excel

  • Learn more - London courses

  • View map
Download Brochure Download Calendar

Who should attend the course?

  • 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

 

 

Course details

Introduction to Upstream Fiscal Regimes

This section will allow delegates to understand main components and differences between different upstream fiscal regimes.

 

Learning outcomes

  • Royalty/tax system
  • Production sharing contracts/production sharing agreements
  • Risk contracts
  • Technical service agreements

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.

 

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

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.

 

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’

"I like that the public courses are supported by online training. I can learn at my own pace and time, which has helped increase my confidence in the work that I do." ~ research analyst, global financial institution

Course materials

While this is a face to face training course, a blended learning approach is taken and delegates will be provided with access to AMT Online. Our study materials contain both the knowledge and practice materials required to assist with the learning process and help you in your job role. Course materials include:

 

  • printed course binder with copy of the slides
  • laminated summary sheets
  • 24/7 access to AMT Online (AMTO)
  • class recordings
  • course notes
  • quizzes
  • electronic homework/study files

Related courses