scholarly journals Use of Investment Project Implementation Mechanism under Production Sharing Agreement for the Development of Oil and Gas

2018 ◽  
Vol XXI (Issue 1) ◽  
pp. 650-662
Author(s):  
Julia Luebeck ◽  
Dmitry Petrov
Keyword(s):  
Oil And Gas ◽  
Investment Project ◽  
Project Implementation ◽  
Production Sharing

Minerals as an object of accounting and economic security of the oil and gas company implementing the production sharing agreement

2020 ◽  
Vol 23 (11) ◽  
pp. 1291-1312
Author(s):  
N.V. Zyleva
Keyword(s):  
Oil And Gas ◽  
Economic Security ◽  
The State ◽  
Professional Judgment ◽  
Production Sharing ◽  
Security Service ◽  
Geological Information ◽  
Oil And Gas Companies ◽  
Mineral Reserves ◽  
Economic Risks

Subject. This article discusses the practice of ensuring the economic security of oil and gas companies operating under the terms of production sharing agreements, where minerals are the object of security. Objectives. The article aims to justify the need to apply professional judgment in the organization of reliable accounting of minerals, explored and extracted under the terms of the production sharing agreement implementation, to avoid various risks to the entity's economic security. Methods. For the study, I used the methods of deduction and modeling. Results. The article presents proposals to arrange accounting of intangible exploration assets (geological information on mineral reserves) and finished products (the part of the extracted minerals owned by the investor and the part owned by the State). Conclusions. As strategic minerals, oil and gas are the targets of various economic risks. Professionals familiar with the specifics of accounting operations in the implementation of the production sharing agreement should be prepared to prevent these risks. The results obtained can be used to design accounting policies and develop local regulations on the tasks and functions of the economic security service of the organization implementing the production sharing agreement.

Practical aspects of business planning in the system of investment project implementation

2017 ◽  
pp. 226-235
Author(s):  
N. Ye. Letunovska ◽  
◽  
О. Yu. Dalechin ◽  
K. O. Bieliaieva ◽  
◽  
...  
Keyword(s):  
Investment Project ◽  
Business Planning ◽  
Project Implementation

What Hit and Miss in Indonesia CBM Project : Empirical Study Slowing Down Factors CBM Development and Propose Suitable Action for CBM Development in Indonesia by Using Analytical Hierarch Process.

2021 ◽  
Author(s):  
I.A. Firdaus
Keyword(s):  
Oil And Gas ◽  
Economic Value ◽  
Gas Production ◽  
Coal Bed ◽  
Production Sharing ◽  
High Investment ◽  
The Government ◽  
Exploration Period ◽  
Production Areas ◽  
Testing Standards

In 2008, the first Coal Bed Methane (CBM) PSC was signed in Indonesia. To date, 54 CBM PSCs have been awarded to explore and develop CBM Block in Indonesia. Twelve years later, only one PSC has submitted a Plan of Development but has not yet produced gas commercially. Most CBM PSCs have been struggling during the 10 years’ exploration period and some may receive extensions for 3 years under specific conditions. The lack of integrated authorities’ approval in the overlay of coal mining and natural gas production areas has become a great obstacle for CBM Development. Besides that, the government regulations in CBM activities have defects in PSC contract terms that may lead marginal economic value for contractors, especially due to high investment during the early development (C. Irawan, 2017). On the other hand, drilling regulations, Pipe Classing standards and Testing Standards following the Oil and Gas standards are too expensive for CBM Investment. According to our observations, CBM Regulations in Indonesia should be modified starting from the Exploration period, Production Sharing Contract Terms and Standard Operating Procedures to suit Indonesian CBM characteristics. Good coordination within government departments is a must for the success of CBM Exploration and Development.

One Method to Identify the Real Options in the Investment Project

2019 ◽  
Vol 8 (3) ◽  
pp. 35-44
Author(s):  
Inas Nadrus ◽  
Valery Anshin ◽  
Igor Demkin
Keyword(s):  
Real Options ◽  
Present Article ◽  
Oil And Gas ◽  
Investment Project ◽  
Oil And Gas Industry ◽  
Specific Nature ◽  
Gas Industry ◽  
Investment Projects ◽  
Multiple Case ◽  
Multiple Case Studies

The present article describes a research that examines the sources of flexibility in the investment projects in the oil and gas industry using multiple case studies of several oil and gas projects. More precisely, the study is concerned with revealing uncertainties that give rise to real options. Ultimately, the methodology for real options identification in the exploration & development type of investment projects of the oil and gas industry is proposed. It is anticipated that the results might help to bring certain improvements into the existing managerial conception of using real options for investment project evaluation considering the specific nature of investment projects in the oil and gas industry.

Thai junta will defer changes to oil and gas laws

2015 ◽  
Keyword(s):  
Oil And Gas ◽  
Party Leader ◽  
Regulatory Change ◽  
Content Type ◽  
Popular Resistance ◽  
Democratic Reform ◽  
Gas Laws ◽  
Production Sharing ◽  
Term Energy ◽  
Oil And Gas Sector

Subject Prospects for regulatory change in the oil and gas sector. Significance Following stiff political opposition in February from the Democrat Party (including party leader Abhisit Vejjajiva) and individuals associated with the People's Democratic Reform Committee, interim Prime Minister Prayuth Chan-ocha's administration cancelled a planned exploration licensing round this year. Now Prayuth faces pressure from the same group to amend the 1971 Petroleum Act itself to switch the oil and gas upstream regime from revenue-sharing contracts (RSCs) to production sharing contracts (PSCs). Impacts Popular resistance to dams on the Mekong risks Thailand's longer-term energy strategy. The next government is likely to be better equipped in countering resistance to new exploration. Low gas prices across Asia and the decline in oil prices promise fiscal relief as Thai imports rise.

Legal Safeguards in Egypt's Petroleum Concession Agreements

2008 ◽  
Vol 22 (4) ◽  
pp. 387-396
Author(s):  
Minas Khatchadourian
Keyword(s):  
Host Country ◽  
Oil And Gas ◽  
Gas Production ◽  
Foreign Investors ◽  
Oil Companies ◽  
Production Sharing ◽  
Arbitration Clause ◽  
Legal Perspective ◽  
The Government ◽  
Oil Company

This article deals with the concession contracts for the exploration and the production of oil and gas in Egypt. Such tripartite contracts are concluded between the Government of Egypt (GOE) as the host country, a National Oil Company (NOC) as the concession holder and an international oil company (IOC) as the foreign contractor who receives a part of the oil or gas production on a production sharing agreement (PSA). From an Egyptian legal perspective, this contract is qualified as a State contract which is supposed to give the Government some exorbitant powers towards its counterparts. However, in order to attract foreign investors into this kind of agreement and encourage international oil companies to explore natural resources, several legal safeguards are incorporated in the concession agreement. Examples of this include placing the contract in the framework of a legislative act, granting the contract a supremacy on any contrary legislation, stabilization clause, adaptation of the contract through renegotiation, arbitration clause, etc.

scholarly journals Problems of estimation of production efficiency and use of pellets

2018 ◽  
Vol 7 (4) ◽  
pp. 226-234
Author(s):  
Максим Ванин ◽  
Maksim Vanin
Keyword(s):  
High Performance ◽  
Production Efficiency ◽  
Investment Project ◽  
Fuel Oil ◽  
Project Implementation ◽  
Residential Areas ◽  
Waste Products ◽  
Complete Replacement ◽  
Fuel Pellets ◽  
Financial Strength

One of the directions of development of enterprises of the timber processing complex today is their modernization, which includes a complete replacement of obsolete equipment for modern high-performance, automated analogues. Obviously, at the same time, the capacity of production, the volume of output, is substantially increased, which leads to an increase in production waste. To solve the problem of their rational use, we propose to introduce a technology for the production of biofuel (fuel pellets), based on the process of crushed waste products pressing. The proposed project includes construction of a workshop for production of pellets with a capacity of 50 thousand tons per year, their packaging and storage. The description of the technological process with the identification of a number of its stages is given, the economic justification of the investment project efficiency is fulfilled, the project implementation schedule is developed, the main performance indicators are calculated and the possible risks associated with the project implementation are identified. The presented calculations testify to sufficient financial strength of the project and its financial solvency. There are two options for using the produced products. The first is generally accepted, based on the export orientation of pellets and their supply to the ever growing European market. The second one is an alternative one, envisaging construction or modernization of obsolete boiler houses and their transfer to cheaper, biologically clean wood fuel. The proposed alternative approach is aimed at solving existing problems in the field of ecology and the energy industry. The use of pellets will significantly reduce the environmental impact caused by coal or fuel oil as a fuel, and can also solve the problem of providing lower-cost energy to remote enterprises and residential areas.

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