Short-Term Course on Post-Production

Services

COURSE

Short-Term Course on Post-Production in JV Operations, PSC Accounting, and Energy Auditing

Kaynix Global Link LLC,
Loumos Group LLC, and,
Texas Southern University, Houston, Texas

Course Overview

This five-day program delivers a practical, Nigeria-focused look at how Joint Venture (JV) operations, Production Sharing Contracts (PSCs), cost recovery mechanisms, and audit processes operate in real upstream petroleum environments.

The course blends global best practices with the operational, fiscal, and regulatory realities shaped by Nigeria’s Petroleum Industry Act (PIA), NUPRC/NMDPRA frameworks, and the commercial structures through which NNPC and its subsidiaries manage and monitor assets.

Participants move beyond generic contract theory into hands-on exercises, valuation models, and audit simulations built around realistic West African JV/PSC scenarios. By the end of the program, they should feel far more prepared to evaluate contract structures, review cost submissions, understand fiscal flows, and conduct structured JV/PSC audits with confidence.

Who Should Attend

This course is designed for professionals directly involved in Nigeria’s upstream commercial, financial, regulatory, and oversight functions, especially:

PSC and JV accountants
Audit and compliance officers
Commercial and legal analysts
Production and asset managers
Contract administration teams
Government/regulatory personnel involved in fiscal oversight
Finance, planning, and economics teams supporting upstream operations

Learning Outcomes

Participants will be able to:

Interpret how Nigeria’s fiscal regime and PIA provisions shape PSCs, JVs, cash calls, and cost recovery
Analyze contract terms from the perspective of NNPC, host government interests, and IOCs
Apply practical models for valuing upstream projects using fiscal terms common in Nigeria
Review and challenge cost submissions under PSC/JV frameworks
Conduct structured audits, including internal audits, joint-venture audits, and production-sharing audits
Identify common cost-recovery disputes and red flags seen in Nigeria and comparable jurisdictions
Evaluate post-production allocations, metering issues, and royalty/entitlement calculations
Use best-practice templates for audit planning, sampling, documentation, and reporting
Understand dispute-resolution pathways, including arbitration and expert determination
Apply a multi-disciplinary audit approach to improve transparency and commercial assurance

COURSE MODULES

MODULE 1

Nigeria’s Petroleum Fiscal Framework and Contract Structures

Overview of upstream operations in the Nigerian context
Key provisions of the Petroleum Industry Act (PIA) affecting PSCs and JVs
Fiscal elements: royalties, cost recovery, profit oil, taxes, hydrocarbon measurement expectations
How Nigerian PSCs differ from concessions, service contracts, and earlier DPR-era agreements
NNPC, NUPRC, and NMDPRA roles in post-production oversight

Outcome: Participants understand the “rules of the game” governing Nigerian upstream operations.

MODULE 2

Understanding PSCs and JVs in Practical Terms

Detailed breakdown of Nigerian PSC structure and terminology
Government/NOC and IOC perspectives on commercial and operational risk
Cost recovery challenges in Nigeria: OPEX disputes, local content premiums, shared facility billing
JV structures: incorporated vs unincorporated, governance models, and funding mechanisms
Cash-call issues: historical context, reconciliation challenges, and modern alternatives

Outcome: Participants can interpret PSC/JV clauses with a practical lens and anticipate high-risk areas.

MODULE 3

Project Economics and Valuation under Nigerian Fiscal Systems

Fiscal modeling using Nigeria-specific PSC/JV parameters
DCF valuation exercises using typical upstream cost and production profiles
Post-production entitlement calculations
Sensitivity analysis: price volatility, project delays, cost overruns
Templates for evaluating marginal fields, brownfield redevelopments, and new PSC terms

Outcome: Participants can build or interpret economic evaluations relevant to Nigerian assets.

MODULE 4

Commercial, Legal, and Operational Issues Across the Value Chain

Midstream considerations: evacuation challenges, pipeline tariffs, transportation arrangements
Downstream elements affecting cost recovery and fiscal outcomes• Contractual arrangements: lifting agreements, gas supply obligations, transportation agreements
Compliance and governance issues: anti-corruption, local content, reporting expectations
Environmental and social considerations tied to fiscal performance

Outcome: Participants gain a holistic understanding of how upstream numbers connect to midstream/downstream realities.

MODULE 5

Dispute Resolution and Risk Management

Common dispute areas in Nigerian PSC/JV operations
Metering discrepancies, over-billing concerns, contractor charges, shared asset allocations
Dispute resolution methods: mediation, arbitration, litigation, expert determination
International protections and bilateral investment considerations
Recent cases and trends affecting government–contractor relationships

Outcome: Participants learn how disputes emerge and how to manage them strategically.

MODULE 6

Energy Auditing for Upstream Operations

(This section offers a Nigeria-focused content while keeping global best practices.)

Audit Foundations

Audit types: internal audits, JV audits, PSC cost-recovery audits, regulatory audits
NNPC/NUPRC expectations for audit rigor and documentation
Audit planning, scoping, sampling, materiality, and evidence principles

Conducting a PSC/JV Audit

Reviewing operator reports and JV billings
Assessing cash calls, cost recovery logic, and shared-cost allocations
Verifying production volumes, metering integrity, and entitlement calculations
Typical red flags seen in Nigerian audits

Practical Exercises

Case study on OPEX and CAPEX cost recovery
JV cash-call reconciliation exercise
Sample operator billing audit
Multi-disciplinary team audit simulation

Best-Practice Audit Model

Template audit checklists
Reporting structure, communication protocols, follow-up actions

Outcome: Participants finish with a clear, repeatable methodology for performing and defending audit conclusions.

Delivery Format

Five days of instructor-led training
Mix of lectures, hands-on modeling sessions, group exercises, and practical case studies
Negotiation and audit simulations reflecting real-world PSC/JV disputes
Templates, models, and reference materials included