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International Petroleum - Oil and Gas - Operation Joint Venture Accounting Course
On going

By: HRODC Postgraduate Training Institute, A Postgraduate-Only Institution

United Arab Emirates

04 Feb - 01 Mar, 2019  26 days

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GBP 20,000

By the conclusion of the specified learning and development activities, delegates will be able to demonstrate a heightened understanding of the following concepts and issues:

Module 1: Issues Regarding Financial Accounting for International Petroleum - Oil and Gas - Joint Ventures and Joint Operations

  • Principles of International Joint Venture 
  • What is a Joint Venture? 
  • General Characteristics of Joint Ventures, 
  • Functional Types of Joint Venture Relationships:
  • Research and Development Joint Ventures,
  • Manufacturing or Production Joint Ventures,
  • Marketing and Distribution Joint Ventures,
  • Hybrid Joint Venture Relationships.
  • Advantages and Disadvantages of Joint Ventures, 
  • Joint Venture vs. Partnership, 
  • Structural Components of a Typical Joint Venture:
  • Formation and Organisation,
  • Capital Contributions,
  • Venture’s Agreement,
  • Ancillary Agreement,
  • Termination Provisions.
  • Transaction Checklists for Forming a Joint Venture, 
  • Alternatives to Joint Ventures for Entering Foreign Markets:
  • Contractual Joint Ventures,
  • Investment Relationships,
  • Negotiated Acquisition,
  • Formation of Wholly-Owned Foreign Entity.
  • Legal and Regulatory Aspects of Joint Venture Activities 
  • Enterprise Laws, 
  • Commercial Laws, 
  • Related Commercial Law Issues:
  • Property Rights,
  • Investment, Financial and Securities Laws,
  • Antitrust and Competition Laws,
  • Labour, Immigration, Health and Environmental Laws,
  • Consumer Protection Laws,
  • Dispute Resolution,
  • Tax Laws.
  • Contract Laws, 
  • Sales of Goods Transactions,
  • Debtor-Creditor Laws, 
  • Types of petroleum - Oil and Gas - Joint Ventures:
  • Jointly Controlled Operations,
  • Jointly Controlled Assets,
  • Jointly Controlled Entities.

Module 2: Contracts Governing International Petroleum - Oil and Gas - Joint Operations

  • International Petroleum – Oil and Gas Joint Operating Agreements, 
  • Salient Definitions in International Petroleum – Oil and Gas Joint Operating Agreements:
  • Exploratory Well,
  • Exploration Well,
  • Appraisal Well.
  • Joint Venture VS Partnership, 
  • Operator VS Non-Operator, 
  • Working Interest VS Non-Working Interest, 
  • Operating Committee:
  • Role of Operating Committee in International petroleum -  Oil and Gas Joint Venture Operation:
  • Exploration Work Program and Budget Approval,
  • Exploratory Results Evaluation and Appraisal,
  • Appraisal Work Approval,
  • Commerciality of Oil and Gas Discoveries and Development Plans Approval,
  • Productions Operations and Budget Approval,
  • Single Items Expenditure Approval,
  • Budget Amendments Approval,
  • Contracts with Sub-Contractors Approval.
  • Operatorship,
  • Exclusive operations.

Module 3: Accounting Procedure in International Petroleum - Oil and Gas - Joint Venture Operations        

  • Joint Account, 
  • Joint Account Records and Currency Exchange, 
  • Payments and Advances,
  • Audits,
  • Methods of Accounting, 
  • Allocations, 
  • Direct Charges,
  • Technical Service Charges,
  • Employee Relocation Cost,
  • Offices, camps, and miscellaneous facilities,
  • Communications equipment,
  • Materials and supplies
  • Exclusively owned equipment and facilities of the operator,
  • Ecological and environmental costs,
  • Technical training costs,
  • Damages and losses to the property,
  • Taxes and duties,
  • Accounting for material
  • Disposal of material
  • Inventories.
Durban; Dubai; London;Kuala Lumpur; Amsterdam; Paris;Brussels Feb 04 - 01 Mar, 2019
GBP 20,000.00(The course cost does not include living accommodation. However, delegates are treated with the following: Continuous snacks throughout the Event Days; Hot Lunch on Event Days; City Tour; Hand-outs; Stationery. We offer very attractive discount for groups)
(Convert Currency)

Ms. Michelle +442071938392; +447487877573; +639368309409

Prof. Dr. R. B. Crawford
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