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Courses: Oil & Gas (E&P) Joint Venture Cash Call Workshop


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Background:

In petroleum exploration and production operations, it is usual for international oil and gas companies (IOCs) and national oil companies (NOCs|) to collaborate in Joint Ventures (JV). This age old arrangement is intended to amongst other reasons to share both exploration and financial risks among participating companies. Such organizations are referred to as JV Partners while the partner choosing to manage the operations on behalf of itself and other partners is called the Operator of the JV.

From time to time, the operator calls upon other JV Partners to provide funding for the operations based primarily on each partner’s equity and on approved budgets.

Such calls for funding are referred to as ‘Cash Call’.

The administration and accounting for Cash Calls remains a major function for JV Operators and Partner’s Accounting & Finance Dept. staff, as well as for the crude oil marketing staff.

This course has been designed to explain the basics, expose the intricate issues and align the provisions of cash calling in JV contracts with the practical accounting procedures, Financial realities and the crude oil/gas marketing obligations with the mechanisms for administering cash calls.

 

Course Content:

1. E&P Business Financial Management
2. Effective Utilization of Cash Call Management for Cost Control Purposes in JVs
3. The Impact of The Petroleum Industry Bill (PIB) on Cash Call Administration & Management
4. Basis of Cash Calls in O&G E&P Operations:

    • Background & Overview of Contract Types
    • V Contract’s Fiscal Policy Resulting in Cash Calls
    • Cash Call Quantification on Basis of Equity & Cash Call Account Reconciliation 

5. Oil & Gas E&P JV Budgeting 

6. JV Budgets & Cash Calling Modalities

7. Cash Call Accounting & Reporting

8. Outstanding Cash Calls (deficit) and Repayment Options

    • Cash Deficit Repayment with Cash or with Oil/Gas. 

9. Entitlement Oil/Gas of JV Partners & Accounting for Deficit Cash Calls.

10. Carried Interest in Cash Call payment.

11. Modified Carry Arrangement

12. Impact of Cash Default on Operations and profitability

13. Working Capital Accounting & Management in Cash Call Management

14. Budget Performance and Cash Call Management

15. Cost Benchmarking in Relation to (Budget) Performance

 

 

 

 

 

 



Duration


5 days



Target audience


All personnel invoved in E&P Cash Call Operations





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