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Minor corrections have been made to the AP2011 document. All future publications will contain these corrections. Please click here for a full list.

Site License - Click here for frequently asked questions.

 

2011 Accounting Procedure and Related Documents

PASC is pleased to announce the 2011 Accounting Procedure is now available for sale via a site license.

The annual site license cost consists of two parts:

(i) one time only set up fee of $150
(ii) a variable component based on the estimated number of joint venture agreements an organization will undertake in a year or the number of copies of the documents an organization will use or distribute within its organization in a year, whichever is greater. The variable portion will become the basis for the annual renewal fee for the License.

The annual site license fee will be as follows:

  • 1 – 20 joint venture agreements annually: $200 per year
  • 21 – 50 joint venture agreements annually: $350 per year
  • 51 – 100 joint venture agreements annually: $600 per year
  • 101 – 200 joint venture agreements annually: $1000 per year
  • 201 – 400 joint venture agreements annually: $1500 per year
  • 401+ joint venture agreements annually: $2000 per year

In order to purchase the site license, you will be required to sign off indicating that you are authorized to do so on behalf of your organization, and that you have read, understood and agree to the terms of the site license. Upon receipt of payment via credit card, the documents will be sent via email.

 

Site License Orders: Order 2011 Accounting Procedure Site License

List of Authorized Licensees

Printed Copy Orders (API-15, API-16, API-17, and GP-14 only): PASC Publications Order Form

 

In addition to the 2011 Accounting Procedure, the following four documents were also released:

  • API-15 Chargeable Engineering Activities: the purpose of this document is to provide clarity and guidance on the chargeability of engineering activities, whether performed by the operator’s staff or by contracted engineering services. The information in this document is intended to aid in implementing the provisions of the 2011 Accounting Procedure.
  • API-16 Chargeable Communication Systems: the purpose of this document is to provide clarity and guidance on the chargeability of communications systems, whether owned by the operator, the joint account or supplied by a third party, and to aid in implementing the provisions of the 2011 Accounting Procedure.
  • API-17 Chargeable Field Computer Systems: the purpose of this document is to provide clarity and guidance on the chargeability of field computer systems, whether owned by the operator, the joint account or supplied by a third party, and to aid in implementing the provisions of the 2011 Accounting Procedure.
  • GP-14 2011 Accounting Procedure Overview

The 2011 Accounting Procedure (and related documents) replaces all previous versions of the PASC Accounting Procedure (including the most recent 1996 version) that are currently in use for domestic joint ventures. The current PASC Frontier Development and Exploration Accounting Procedures still remain as guidance documents for frontier operations.

Special thanks goes to the PASC Joint Interest Research Committee for leading this change initiative and creating the documents that are key to managing joint venture cost sharing arrangements. The Board of Directors of PASC and the Joint Interest Research Committee also extend their thanks to the many industry stakeholders who actively participated in the process through the various industry feedback cycles.


Site License - FAQ

  • If we want printed copies how many hard copies are we allowed to have? Show response
Response: You are allowed to print as many hard copies of any of the documents that you require so long as they are for internal use only. For example, if you hold a license for up to 20 agreements, the license limitation is on the use the accounting procedure for up to 20 agreements (and by use we mean attach the Accounting Procedure and/or the Schedule of Rates, Elections and Modifications to a joint venture or other agreement).

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  • Should we give authorization to use it electronically to a certain number of people only? Show response
Response: If you prefer not printing hard copies of the documents, the license also permits you to place the documents on your computer system to allow your staff to view or print as and when needed. Access to the documents doesn't need to be restricted as long as your staff know not to distribute any of them outside the organization. Some companies are providing access to the documents via an internal webpage that has directions on how to use them and a warning about not distributing them in any form. The only exception to this is the Schedule of Rates, Elections and Modifications which is the document used to negotiate the Accounting Procedure - it can be sent outside your organization when negotiating joint venture agreements.

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  • If everyone in the company has an access to open it then they automatically get an access to printing it. Show response
Response: Yes that is the intent

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  • What are your recommendations on how it should work? Show response
Response: Each site license purchaser can set up their own way to handle it as long as they follow the licensing guidelines. Whatever is set up, the most important thing is to ensure your staff are aware that distributing any of the documents in electronic or paper form outside of their organization is not permitted. PASC is relying on the honour system with respect to each company's use of the documents. If your usage exceeds your subscription, the honour system allows you to pay the difference once known, or alternatively subscribe for a higher usage in the next year to cover off the previous year's overusage.

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Response: The setup fee is to customise the documents and have them sent out by our administrators, as well as to manage the license renewal process down the road.

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