Cash Calls in Oil and Gas Venture Operations

Contracts, Purchasing & Procurement Management
Downstream Oil & Gas
Finance, Budgeting & Accounting
International Oil & Gas Supply, Trading & Pricing
International Petroleum Business
Upstream Oil & Gas

In oil and gas projects, many of the international and national oil & gas companies are collaborating in Joint Ventures (JV). The purpose of a JV is to develop and produce oil and/or gas in an economically viable manner. It also assists oil and gas companies to mitigate the risk existed in different stages of life cycle of a field. Billions of dollars are invested every year in the upstream projects. This huge amount of investments will be done mainly in accordance with the terms and conditions of a joint operating agreements (JOA), which imposes an obligation on all participants to contribute funds to shared activities. Fundamentally, a JV agreement requires all participants to pay their share of expenses (operating or capital) upon a cash call by the operator; however, should any of the investors fail to pay its share. Such a failure will normally constitute a “Default” under the terms and conditions of the JOA. This PetroDeep training course has been designed to explain the basics of cash calling in JV contracts with practical accounting procedures and reporting; types of cash; fundamentals and workflows for cash calling in joint venture contracts; outstanding cash calls and repayment options; impact of cash default on joint venture operations and profitability. The PetroDeep training course also highlights critical issues relating to implementing oil and gas joint venture budgeting and auditing processes. Both the structural aspects of cash calling as well as realworld case studies will be discussed to illustrate the field application of the concepts in the training course.

Code Venue Fees ($) Dates
UP005 Abu Dhabi, U.A.E 4500 May 19, 2019 – May 23, 2019
UP005 Boston, U.S.A 6500 August 4, 2019 – August 8, 2019
UP005 Houston TX, U.S.A. 6500 November 17, 2019 – November 21, 2019

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