Kamis, 25 Januari 2024

IMPLEMENTATION OF CLOSED OUT AFE

 

Authorization for Expenditure ("AFE") is the authorization of financing work plans and budgets for project-based activities provided by SKK Migas to KKKS based on the results of technical evaluation and costs.Whereas Closed Out AFE is the responsibility of implementing and Realizing Project Costs / AFE in each KKKS Working Area based on AFE and / or AFE revisions approved by SKK Migas, either in Bundling or Unbundling with WP&B approval.KKKS reports on implementation and Project Cost Realization / AFE. Then SKK Migas conducts an evaluation / examination of the Project Cost Realization that meets certain criteria, where the results of the project financial audit will be used as one of the considerations in the evaluation / examination of Closed Out AFE Report related projects.


COURSE CONTENT:

·         Overview of Upstream Oil & Gas Industry

·         AFE:

o   AFE Characteristic

o   Activity Classification

o   AFE Approval Mechanism

o   Budget Schedule 18 – 24

·         Submission of Closed Out AFE Report

o   Completeness of Closed Out AFE Report Documents:

§  Drilling / Workover / Well Service Project

§  Facilities and Well ConnectionProject

§  Survey, Study, FEED, Data Processing and  Data Reprocessing Project

§  Certain Other Project

o   Completeness of Closed Out AFE Report Documents

o   Procedures for Checking the Completeness of Closed Out AFE Report Documents

·         Evaluation / Inspection of Closed Out AFE Report

·         Closed Out AFE Approval

 

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