Course Description

This course enables delegates from all financial and commercial disciplines to effectively understand the Cash Calling activities through the oil and gas joint venture. Outstanding cash calls and repayment options, impact of cash default on the project viability, and disputes. The training course also teaches participants on contract types, and also outlines critical issues involved in making oil and gas joint venture successful and the accounting, budgeting and auditing practices.

Course Objectives:

At the end of this course, delegates will be able to:

• Learn all the types of JV agreement in Oil & Gas industry
• Assess the issues to negotiate and agree a JVCC Arrangement
• Select the most appropriate forms of JVCC
• Administer it during the asset’s production phase
• Equip participant with the necessary knowledge to play a role in the JVCC Arrangement environment in an efficient and effective manner

Course Outline:

• Overview of O&G industry today
• Types of joint venture and how to get into them
• Oil and gas joint venture principles
• Accounting for a joint venture
• Relationships with host governments
• Contrast of key drivers between IOCs and NOCs
• Negotiating and formation of joint ventures
• Key accounting and financing provisions
• Joint venture funding, cash management, and billing requirements
• Techniques to effectively balance of cost, risk and reward
• The effects of recent oil price and regulatory trends impacting joint ventures
• Overview of cash call types in oil and gas joint venture operations
• Financing petroleum by Cash Calls
• Joint venture budgeting & operating principles
• Cost concepts, Allocations, Costing by product and
• Activity based Costing in joint venture operations
• Process of cash call funding, account reconciliation and reporting
• Outstanding cash calls (deficit) and repayment options
• Responsibilities of oil/gas of joint venture partners
• Managing cash call statement
• Accounting for deficit cash calls
• Impact of cash default on operations and Profitability
• Difference between a cash call & a cutback
• Cash Call Practice & Improvement

Who Should Attend?

• Chief Executive Officers
• Business/investment analysts
• Assets managers
• Operation managers
• Cost controllers
• Accounting executive/managers
• Financial reporting managers
• Oil and gas operators, joint venture operators
• Joint venture non-operators
• Joint venture accountants
• Government regulators
• Training Methods

Delivery method: This will include combine lectures, discussions, group exercises and illustrations. Participants will also understand the theoretical and practical knowledge of the topic.

Venue:  

Fee:  

Duration: 1 week

Course Date: April 29th – May 3rd, 2023