Course Detail

Joint Venture Agreement and Cash Call Workshop Dubai Duration: 1 Week/s

Course Information

  • Course Price $4950
  • Location Dubai Courses
  • Course Code JCACCD
  • Course Date 2 May - 6 May 2021

Course Objectives

This Joint Venture Agreement and Cash Call Course provides an overview on the collaboration in joint venture (JV) between International oil and gas companies (IOCs) and national oil companies (NOCs). This age-old arrangement is intended to among other reasons, share both exploration and financial risk among participating companies. Such organisations are referred to as JV partners while the partners choosing to manage the operation on behalf of itself and other partners is called the operator of the JV. From time to time, the operator calls upon the other JV Partners to provide funding for the operations based primarily on each partnerís equity and on approved budgets. Such calls for funding are referred to as Cash Call. The administration and accounting for Cash Call remains a major function for JV operators and partnerís Accounting and Finance, Administration, Operations and Human resource Department staff, as well as for the crude oil marketing staff.

Who Should Attend?

Accountants, Operational Auditors, Managers, Operators, Project Managers, Joint Venture Operators staff in the oil and gas industry, etc.

Course Overview

Joint Venture Agreements

  • Understanding a Joint Venture (JV) agreements

  • Proper understanding of the Joint Operating Agreement

  • What a Joint Venture agreement states about accounting

  • The Joint Venture Agreement and its management

  • JV contractís fiscal policy resulting in Cash Call

  • Cash call qualification on basis of equity and Cash Call account reconciliation

  • Joint Venture Cash Management
  • Cash calling, invoicing, and cash management

  • Identification and establishment of risks register for cash call processing

  • Development of cash call process manuals for members

  • How to prepare and process a cash call

  • Documentation of cash call data

  • Challenges and opportunities in the present cash call process

  • The practice of cash call by other countries that have similar Joint Venture Operations

  • The impact of other exogenous factors

  • Insurance

  • Billing Arrangements
  • How to account for Joint Venture billing statements

  • Understanding Joint Venture Billing

  • How to prepare and process a Joint Venture billing statement

  • Joint Venture Cost Allocation
  • Key issues in allocating joint venture costs

  • How to allocate Joint Venture Costs.

  • Identifying the correct costs and method of allocation
    Unitization and Recommendation

  • How to account for product and cost sharing changes following an equity redetermination

  • Learning Goal

    This course has been designed to enable participants to
  • Understand the legal implications of a joint venture agreement

  • Understand the cash call process

  • Appreciate the challenges of the Exploration and Production in the oil and gas industry

  • The primary learning objective for this course is met through a combination of interactive presentations, discussion, and exercises.

    Course Materials

    Handouts, materials