This RECTUS 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 RECTUS 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 real-world case studies will be discussed to illustrate the field application of the concepts in the training course.

This is a unique RECTUS training course with the professional techniques that 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 – are included. 

The training course will also cover contract types, and it also outlines critical issues involved

in making oil and gas joint venture successful and the accounting, budgeting and auditing

practices involved

By the end of this RECTUS advanced level training course:

• Delegates will be able to understand all the types of JV agreement in Oil & Gas industry
• Delegates will be able to understand the issues to negotiate and agree a JVCC Arrangement
• Delegates will be able to select the most appropriate forms of JVCC
• Delegates will learn, and how to administer it during the asset’s production phase.
• This advanced course will also equip attendees with the necessary knowledge to play a role in the JVCC Arrangement environment in an efficient and effective manner

This RECTUS training course is designed for:

• 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

This interactive Training will be highly interactive, with opportunities to advance your opinions and ideas and will include:
• Lectures
• Workshop & Work Presentation
• Case Studies and Exercise
• Videos and General Discussions

Day One: Overview of Joint Ventures in Oil & Gas industry

• 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

Day Two: Financing Fundamental of Oil & Gas Joint Ventures

• 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

Day Three: Cash Calls in Oil & Gas Industry

• 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

Day Four: Requirements of Cash Calls in Oil and Gas Joint Venture

• 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

Day Five: Cash Call Practice & Improvement  

• Cash Call Practice
• Cash Call Problems
• Refusal to pay a Cash Call
• Improvement to Cash Call Process

RECTUS attendance certificate will be issued to all attendees completing minimum of 80% of the total course duration.