{"id":4715,"date":"2019-10-24T15:27:13","date_gmt":"2019-10-24T09:57:13","guid":{"rendered":"https:\/\/wgei.intosaicommunity.net\/?p=4715"},"modified":"2019-11-06T12:41:08","modified_gmt":"2019-11-06T07:11:08","slug":"production-sharing-agreements-contracts-psas-course","status":"publish","type":"post","link":"https:\/\/wgei.intosaicommunity.net\/de\/production-sharing-agreements-contracts-psas-course\/","title":{"rendered":"Production Sharing Agreements\/Contracts (PSAs) Course, 3rd &#8211; 7th February 2020, Pretoria, South Africa"},"content":{"rendered":"<p><span style=\"font-size: 12.0pt; color: black;\">The INTOSAI Working Group on Audit of Extractive Industries (WGEI) in collaboration with AFROSAI- E (AFRICAN ORGANISATION OF SUPREME AUDIT INSTITUTIONS \u2013 ENGLISH (AFROSAI-E) is\u00a0happy to announce a training course dedicated to understanding and auditing management of Production Sharing Agreements\/Contracts (PSAs).<\/span><\/p>\n<p><span style=\"font-size: 12.0pt; color: black;\">The training will be most relevant to SAIs in countries that implement the PSA model. Participants will gain knowledge on how to identify risks and select possible audit topics in this area. <\/span><\/p>\n<p><span style=\"font-size: 12.0pt; color: black;\">\u00a0<\/span><span style=\"font-size: 12.0pt; color: black;\">Topics to be covered include:<\/span><\/p>\n<ol>\n<li><strong>UNDERSTANDING PRODUCTION SHARING AGREEMENTS\/CONTRACTS (PSAs)<\/strong><\/li>\n<\/ol>\n<p><strong>1.1 What is a PSA?<\/strong><\/p>\n<ul>\n<li><span style=\"font-size: 12.0pt; color: black;\">Understand the main structure of a PSA<\/span><\/li>\n<li><span style=\"font-size: 12.0pt; color: black;\">PSA preamble<\/span><\/li>\n<li><span style=\"font-size: 12.0pt; color: black;\">Contracts\/agreements coherence in the legal system<\/span><\/li>\n<\/ul>\n<p><strong>1.2\u00a0Identifying parties and regulatory provisions<\/strong><\/p>\n<ul>\n<li><span style=\"font-size: 12.0pt; color: black;\">The parties\u2019 principal rights and obligations under a PSA<\/span><\/li>\n<li><span style=\"font-size: 12.0pt; color: black;\">Locate and interpret terms in a PSA<\/span><\/li>\n<li><span style=\"font-size: 12.0pt; color: black;\">State participation<\/span><\/li>\n<li><span style=\"font-size: 12.0pt; color: black;\">Pipeline transportation<\/span><\/li>\n<\/ul>\n<p><strong>1.3\u00a0Financial provisions and production disposition<\/strong><\/p>\n<ul>\n<li><span style=\"font-size: 12.0pt; color: black;\">Work program budgets\/investments<\/span><\/li>\n<li><span style=\"font-size: 12.0pt; color: black;\">Work programmes<\/span><\/li>\n<li><span style=\"font-size: 12.0pt; color: black;\">Guarantees<\/span><\/li>\n<li><span style=\"font-size: 12.0pt; color: black;\">Sale of oil and gas &#8211; valuation and measurement<\/span><\/li>\n<li><span style=\"font-size: 12.0pt; color: black;\">Reference price<\/span><\/li>\n<li><span style=\"font-size: 12.0pt; color: black;\">Marketing and lifting<\/span><\/li>\n<\/ul>\n<p><strong>1.4\u00a0Cost recovery, production sharing, rentals, bonuses and royalties<\/strong><\/p>\n<ul>\n<li><span style=\"font-size: 12.0pt; color: black;\">Understand the concepts of profit oil\/gas, cost oil\/gas and cost recovery limit<\/span><\/li>\n<li><span style=\"font-size: 12.0pt; color: black;\">The use of sliding scales and tranches to increase govt. take when profits increase<\/span><\/li>\n<li><span style=\"font-size: 12.0pt; color: black;\">Government take and other revenues<\/span><\/li>\n<\/ul>\n<p><strong>1.5\u00a0Legal and non-operational matters<\/strong><\/p>\n<ul>\n<li><span style=\"font-size: 12.0pt; color: black;\">Financial guarantees, banking and insurance<\/span><\/li>\n<li><span style=\"font-size: 12.0pt; color: black;\">Revision of work programme<\/span><\/li>\n<li><span style=\"font-size: 12.0pt; color: black;\">Title to assets<\/span><\/li>\n<li><span style=\"font-size: 12.0pt; color: black;\">Entitlement to data<\/span><\/li>\n<li><span style=\"font-size: 12.0pt; color: black;\">Confidentiality <\/span><\/li>\n<li><span style=\"font-size: 12.0pt; color: black;\">Entitlement to representatives<\/span><\/li>\n<li><span style=\"font-size: 12.0pt; color: black;\">Local purchases<\/span><\/li>\n<li><span style=\"font-size: 12.0pt; color: black;\">Conflict negotiations, dispute settlements and arbitration<\/span><\/li>\n<li><span style=\"font-size: 12.0pt; color: black;\">Force Majeure<\/span><\/li>\n<li><span style=\"font-size: 12.0pt; color: black;\">Termination of PSA<\/span><\/li>\n<\/ul>\n<p><strong>1.6\u00a0Organisational and cooperative matters<\/strong><\/p>\n<ul>\n<li><span style=\"font-size: 12.0pt; color: black;\">Management committees<\/span><\/li>\n<li><span style=\"font-size: 12.0pt; color: black;\">Accounting and audits<\/span><\/li>\n<li><span style=\"font-size: 12.0pt; color: black;\">Notices<\/span><\/li>\n<li><span style=\"font-size: 12.0pt; color: black;\">Training and employment of local citizens (local content)<\/span><span style=\"font-size: 12.0pt; color: black;\">\u00a0<\/span><\/li>\n<\/ul>\n<p><strong>2. PRINCIPLES OF GOOD GOVERNANCE<\/strong><\/p>\n<ul>\n<li><span style=\"font-size: 12.0pt; color: black;\">Supervision and control<\/span><\/li>\n<li><span style=\"font-size: 12.0pt; color: black;\">Role of the SAI<\/span><\/li>\n<li><span style=\"font-size: 12.0pt; color: black;\">Prerequisites for good governance<\/span><\/li>\n<\/ul>\n<p><strong>3. IDENTIFY RISKS<\/strong><\/p>\n<ul>\n<li><span style=\"font-size: 12.0pt; color: black;\">What is likely to go wrong?<\/span><\/li>\n<li><span style=\"font-size: 12.0pt; color: black;\">The issue of confidentiality<\/span><\/li>\n<li><span style=\"font-size: 12.0pt; color: black;\">What aspects are most relevant for auditors?<\/span><\/li>\n<li><span style=\"font-size: 12.0pt; color: black;\">Risk mapping exercise<\/span><\/li>\n<\/ul>\n<p><span style=\"font-size: 12.0pt; color: black;\">\u00a0<\/span><span style=\"font-size: 12.0pt; color: black;\">The course will take place in <strong><span style=\"font-family: 'Calibri',sans-serif;\">Pretoria, South Africa from 3<sup>rd<\/sup> -7<sup>th<\/sup> February 2020<\/span><\/strong><\/span><\/p>\n<p><span style=\"font-size: 12.0pt; color: black;\">\u00a0<\/span><span style=\"font-size: 12.0pt; color: black;\">This is to provide you with advance information and request you to set aside this period in order to participate in the training.<\/span><\/p>\n<p><strong><a href=\"https:\/\/forms.gle\/YiNa2tgFmDJYDjEf7\" target=\"_blank\" rel=\"noopener\"><span style=\"font-size: 12.0pt; color: black;\">\u00a0<\/span><span style=\"font-size: 12.0pt; color: black;\">REGISTER HERE<\/span><\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The INTOSAI Working Group on Audit of Extractive Industries (WGEI) in collaboration with AFROSAI- E (AFRICAN ORGANISATION OF SUPREME AUDIT INSTITUTIONS \u2013 ENGLISH (AFROSAI-E) is\u00a0happy to announce a training course dedicated to understanding and auditing management of Production Sharing Agreements\/Contracts (PSAs). The training will be most relevant to SAIs in countries that implement the PSA &hellip; <a href=\"https:\/\/wgei.intosaicommunity.net\/de\/production-sharing-agreements-contracts-psas-course\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Production Sharing Agreements\/Contracts (PSAs) Course, 3rd &#8211; 7th February 2020, Pretoria, South Africa&#8221;<\/span><\/a><\/p>\n","protected":false},"author":42,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/wgei.intosaicommunity.net\/de\/wp-json\/wp\/v2\/posts\/4715"}],"collection":[{"href":"https:\/\/wgei.intosaicommunity.net\/de\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wgei.intosaicommunity.net\/de\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wgei.intosaicommunity.net\/de\/wp-json\/wp\/v2\/users\/42"}],"replies":[{"embeddable":true,"href":"https:\/\/wgei.intosaicommunity.net\/de\/wp-json\/wp\/v2\/comments?post=4715"}],"version-history":[{"count":7,"href":"https:\/\/wgei.intosaicommunity.net\/de\/wp-json\/wp\/v2\/posts\/4715\/revisions"}],"predecessor-version":[{"id":4933,"href":"https:\/\/wgei.intosaicommunity.net\/de\/wp-json\/wp\/v2\/posts\/4715\/revisions\/4933"}],"wp:attachment":[{"href":"https:\/\/wgei.intosaicommunity.net\/de\/wp-json\/wp\/v2\/media?parent=4715"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wgei.intosaicommunity.net\/de\/wp-json\/wp\/v2\/categories?post=4715"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wgei.intosaicommunity.net\/de\/wp-json\/wp\/v2\/tags?post=4715"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}