A 3-day PSC Virtual Course

6 Key Modules Providing State-of-the-Art Techniques in Fiscal System Analysis & Design

Location: Virtual

Venue: N.A.

Starts: 28 Sep 2021

Ends: 30 Sep 2021

Type: Virtual

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The Production Sharing Contracts (PSC) course provides critical information to create the right commercial framework for successful PSC negotiations. It examines state-of-the-art practice and techniques in fiscal system, analysis and design.

USA Central Daylight Time
28 – 30 September 2021
9am to 11am & 11.30am to 1.30pm
Click here to register for the Singapore Time Zone

Six Key Modules Providing State-of-the-Art Techniques in Fiscal Analysis, System and Design

+ USA CDT: 28 September 2021

  • Module 1: Introduction – PSCs & Royalty Tax Systems
  • Module 2: Sliding Scales


+ USA-CDT: 29 September 2021

  • Module 3: Allocation & Licensing
  • Module 4: Indonesian Gross Split System

+ USA-CDT: 30 September 2021

  • Module 5: Back-of-the-Envelope Calculations
  • Module 6: Economic Modelling & Discount Cash Flow Analysis

Bookable as individual or multiple modules

Singapore Time

7 – 9 September 2021
8am to 10am & 10.30am to 12.30pm

USA Central Daylight Time

28 – 30 September 2021
9am to 11am & 11.30am to 1.30pm

Attend the 6 Modules to Gain a Detailed Assessment of:-

  • Evolution of fiscal system designs
  • Progressive and Regressive Mechanisms
  • ROR, R-Factor, IM and other sliding scales
  • Recent trends in allocation, prequalification
  • Work Program Bidding
  • Relinquishment dynamics
  • Indonesian and other Gross Split Approaches
  • Economic metrics (e.g., Government Take, Effective Royalty Rate, Savings Index)
  • Comparative Analysis of Fiscal Systems
  • Economic modelling techniques

Course Directors (At least one Course Director per module)

David Johnston

Managing Director, Daniel Johnston & Co.

David Johnston, is Managing Director with Daniel Johnston & Co., working with Governments and oil companies on upstream exploration, development, Enhanced Oil Recovery, and marginal field development contracts worldwide. His work includes contract design, economic/financial analysis, negotiations, and expert witness work.

David teaches courses in "Economic Modeling and Risk Analysis" and "International Petroleum Fiscal System Analysis and Design" at the University of Dundee and has published two books through the University, "Economic Modeling and Risk Analysis Handbook", and "Maximum Efficient Production Rate". He has also published "Introduction to Oil Company Financial Analysis" (2006) a ˜best seller" with PennWell Books, and has written a number of articles on the subjects of energy and technology.

David is also a contributing author to "Avoid the Resource Cure" Columbia University Press, 2007, and "Energy Futures" Palgrave McMillan, 2007.

He holds a Bachelor of Science degree in Electrical Engineering from the University of Rochester, Rochester, New York.

Daniel Johnston

President & Founder of Daniel Johnston & Co.

Daniel Johnston has over 40 years experience in the international sector conducting oil and gas reserve certifications, field development feasibility studies, evaluating exploration potential of licenses and concessions, providing expert testimony, and working with both International Oil Companies (IOCs) and National Oil Companies (NOCs) or Oil Ministries on contract analysis and design, joint operating agreements, farm-in/farm-out agreements, purchase-sale-agreements, negotiations, disputes, mediations and renegotiations.

He has a Bachelor of Science Degree in Geology from Northern Arizona University, with minors in Mathematics and Meteorology and an MBA (Finance) from the University of Texas at Austin.

He has published numerous books and articles and he lectures on the subjects of: Economics and Risk Analysis, Petroleum Fiscal System Analysis and Design, and Financial Analysis.

He is one of the co-founders of the Journal of World Energy Law and Business (JWELB) published by the Association of International Petroleum Negotiators (AIPN) and the Oxford University Press (UOP). The first issue was published in March, 2008.

Since 1985 he has performed forensic analysis and/or provided expert testimony in over 50 disputes in over 30 countries involving contract interpretation issues, economic, financial and accounting matters, industry standards and practices, contract interpretation, and damages or compensation assessment.

Mr. Erik Johnston

Vice President, Daniel Johnston & Co., Inc.

Erik is Vice President at Daniel Johnston & Co., Inc. He began working with Daniel Johnston & Co. Inc. in 2001. As a provider of independent consulting services to the petroleum industry worldwide, Erik has performed economic and policy analysis with respect to petroleum fiscal system analysis and design as well as contractual terms between oil companies and governments.

Such work has involved extensive economic modeling of petroleum fiscal terms as well as review and comment on specific contract language in consulting engagements and dispute contexts. Erik has delivered professional training courses at various locations around the world - both public and in-house for governments and oil companies.

Erik is also President and Director at Gearhart Companies, Inc., an oil field services company. Since 2013 he provided consulting and management advice to the company, and in 2014 he was named President and Director. He acts in these capacities in addition to his consulting practice at Daniel Johnston & Co., Inc.

Key Learning Outcomes for the Modules

You will:- 

  • Learn about different fiscal system designs and their key elements
  • Learn to ‘speak the language’ of international deal-making and negotiations
  • Analyse different fiscal mechanisms and their impact on cash flow
  • Compare PSC and Royalty Tax (Concession) designs
  • Understand drivers behind fiscal system designs and taxation policy choices
  • Evaluate key economic metrics for various system designs
  • Achieve familiarity with strengths and weaknesses of different design choices

Who Should Attend

International & Government Negotiators

Corporate/Strategic Planners

Policy/Economic/Financial/Business & Accounting Analysts

Legal Advisors & In-House Counsel

Commercial/Business Development/ Marketing/ New Business/Joint Venture Mgrs

LNG/Gas Supply Mgrs

Finance Directors & Mgrs

Accountants & Financial Controllers

Tax & Finance Advisors

Loan Officers

Production & Reservoir Mgrs

Project Economic Mgr

Compliance Officers/Contract Leads

Operation/Scheduling & Shipping Mgrs


Senior Petroleum Engineers

Petroleum & Mining Economists


Contact Us

+65 6338 0064

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