This unit is responsible for economic affairs related to petroleum resources, including, for example:
- Study applications submitted by applicants to licenses from the economic and financial viewpoints.
- Audit and follow-up requests and inquiries from operators or rights-holders from economic and financial viewpoints.
- Conduct economic and financial research and studies related to the petroleum sector and the possibilities for its development.
- Propose policies relating to the State’s Total Government Take upon launching licensing rounds.
- Manage accounting and administrative systems and simulate different exploration and production scenarios.
- Assess the impact of developments in the global markets for petroleum products on petroleum activities.
- Propose policies for the sale or exploitation of produced petroleum.
- Monitor the compliance of right -holders and contractors with the accounting rules in force relating to petroleum activities.
- Monitoring and calculating Cost Petroleum and Profit Petroleum and cash flows attributable to right-holders.
- Audit on Royalty in cooperation with the Technical Affairs and Engineering Unit as afr as the measurements of production is concerned.
- Calculate the fees related to the region and ensure the validity of payments by the lright-holders. Also review the level of such fees in accordance with the respective decrees.
- Approve the plans for decommissioning as well as monitor the saving of provisions earmarked for the dismantling and removal of installations upon decommissioning.
- The Unit shall seek to coordinate its work with the Ministry of Finance and to provide the necessary assistance in accordance with the current agreement with the ministry.
- Propose measures for the modernization and development of work in the unit.
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