THE WORLD’S BEST SELLING PRODUCTION SHARING CONTRACTS COURSE GOES VIRTUAL – WITH TWO TIME ZONES
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.
The Production Sharing Contracts (PSC) course provides critical information to create the right commercial framework for successful PSC negotiations:-
- Module 1: Introduction – PSCs Royalty Tax Systems
- Module 2: Sliding Scales
- Module 3: Allocation & Licensing
- Module 4: Indonesian Gross Split System
- Module 5: Back-of-the-Envelope Calculations
- Module 6: Economic Modelling & Discount Cash Flow Analysis
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)
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.
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.
"The course offers a very good starting point to help understand PSC for anyone with very little background knowledge"
- Sales, TRC Consultants
"Exposure to many different fiscal systems worldwide"
- JPDA Director, National Authority for Petroleum & Minerals
• "Able to provide real life historical context for why+how PSC’s have evolved and changed. David is an excellent presenter and provides real life stories to keep students engaged. This is not just a course based on theoretical concepts"
- Commercial Manager/ Osaka Gas Australia
"Excellent and great insight with the determination of Government take in a production sharing contract"
- Exploration Geosciences Team Lead, Chevron
"Experienced, knowledgeable and is very good at simplifying his explanations"
- Head of Petroleum Economics, Timor Gap, E.P
“Very good on discovery of PSC’s & especially simplifying them”
- Ryder Scott Co., Senior Petroleum Engineer
“The Course Director is very good at delivering the concepts and making sure you understand”
- Mubadala Petroleum, Analyst, M & As
“Managed to cover a lot of fiscal terms which I was not too comfortable with before”
- Petroleum Brunei, Legal Manager
“Provided a great overview of all aspects of the subject. Learning government position was very useful”
- Shell Products & Technology, Petroleum Engineer
“Comprehensive course plus a good instructor who makes everything so simple”
- Philodrill Corporation, Lawyer
“Outstanding comprehensive expertise”
- ENI, Head of Legal
“Excellent teaching style and wealth of experience around the globe”
- Chevron, Manager
“Good balance of high level & depth, plus providing useful “rule of thumb” principles and industry statistics”
- New Business Commercial, Petronas, Head
“The course was impressive and exceeded my expectations”
- Kuwait Energy Company, Portfolio Analyst
“Broad exposure to help bring up pertinent questions”
- Anadarko Petroleum, Commercial Engineer, International Business Services
• (Module 2) “Only through the computer can you put all the pieces together and get an understanding of the impact of the time value of money”