Background
This programme has been designed with the legal, operations, accounting, financial, commercial and fiscal regimes of an oil and gas operating company in view.
Petroleum hydrocarbon exploration and production operations worldwide have always been funded through joint venture partners’ (JV) cash calling.
However in recent times and with increasing host governments’ national debt, and their declining ability to meet such financial obligations, the classical CashCall arrangements have not been able to meet the needs of current realisations.
Such realizations have necessitated a transmutation of JVs into Incorporated Joint Ventures (IJVs) which are essentially different in their legal, financial and accounting outlook.
Course Content (Full Content available on Request):
- Background to Petroleum Industry Reforms in Host Country.
- Legal Aspect & Issues of an IJV including fiduciary responsibilities of Managing Shareholders (formerly called operators).
- JOA, Memorandum of Understanding & Article f Association under IJV..#
- E&P Operations Budgeting:
- Project Supervision & Project Performance Reporting Methodologies.
- IJV Operation’s Spending (Performance) Appraisal for Cost Control Purposes.
- Cost Control Measures & Profitability under IJV
- Class Exercises & Case Studies.
Who Should Attend?
This programme is intended for all categories of staff and managers engaged in the management of IJVs in an Oil and Gas (E&P) Operation.
Such personnel include:
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- Accountants
- Finance & Accounts Staff
- Economists
- Engineers
- Lawyers
- Project and Materials Management Officers
- Operation’s Staff
- Geoscientists
