Production Sharing Contracts (PSCs) are commonly used in the oil and gas industry, particularly in developing countries where governments aim to attract foreign investment while retaining control over natural resources. PSCs often involve complex accounting, budgeting, reporting requirements and auditing, which can be challenging for industry professionals, especially those who are not familiar with the specific PSC framework.
Objectives:

• Understand the regulatory framework and key requirements under PTK 059 (Accounting Guidelines) and PTK 063 (Budgeting & Work Program).
• Implement best practices in financial policy, accounting treatment, and budgeting processes under the PSC environment.
• Align reporting procedures with SKK Migas expectations.
• Understand audit mechanisms and how to prepare and respond effectively to SKK Migas or BPKP audits.