ERC calculator petroleum and gas - Module 2 transcript

Watch the video Petroleum and gas ERC calculator training – Module 2 – How to prepare to learn how to prepare an Estimated Rehabilitation Cost.

Welcome back to the training for the 2022 edition of the Estimated Rehabilitation Cost Calculator for petroleum and gas. This is Module 2. In this module we will cover how to prepare an Estimated Rehabilitation Cost.

To get started, go to the Business Queensland website and download the Calculator.

You may be prompted to save this to a particular location, or it will appear down the bottom, depending on which browser you are using. Open the Calculator once it is downloaded and you will be taken to the Terms and Conditions of use pages. By downloading the Calculator, the user agrees to the terms and conditions.

In the next tab, you will find the Contents sheet. This tab will allow you to navigate around the Calculator and each subsequent sheet gives you the ability to come back to the Contents sheet.

The first tab required for starting a calculation is the Registration sheet. Here you will fill in some of the more general details for the activity. This includes the EA number and holder; the tenure numbers and site or project name; as well as the last ERC decision date and current ERC amount, which is used to calculate the difference between the total cost of this ERC and previous ERC amounts.

Further down the User enters site details and contact information. Below this is the selection of the Waste Levy. The user must select one of the options from the drop-down menu. The options are: Waste levy applies, for regional or metro zones; Waste levy does not apply because the site is not in a waste levy zone; or Waste levy does not apply for another reason, in which case the User must add comments.

The final part is the name and details of the assessor who is the person preparing the Calculator, and the name and details of the authorised person or site manager, who is the person within your organisation who is authorised to submit this calculation to the government.

The User can then choose to either complete the Main sheet, which includes rolled up rates for petroleum and gas activities, or work through all the user input sheets, entering all the details relevant to their activity. We will cover data entry into these sheets in later modules.

If the user chooses to complete the Main sheet, they simply enter the quantity for the relevant activity and the Calculator uses the rolled up or default rate to calculate the cost.

The user input sheets allow the User to build a rate, based on the specifics of individual infrastructure. Generally, default rates are still relied on, but the User has the option to add alternate rates with justification into the Main sheet. The User simply works through the user input sheets, entering quantities to input cells and selecting options from drop-down menus as required.

Once this data entry is complete the User can return to the Summary sheet to review the rolled-up totals. If site-specific Project Management and/or Environmental Maintenance and Monitoring values are justified, enter these into the cells in the Summary sheet and provide justification in the cells below the table. These will be explained further in a later module.

As always, for more information or specific instructions, please consult the User Guide which is also available on the Business Queensland website, below the download for the Calculator.

See you in the next module.

Watch the video: Module 2 – How to prepare.