Introduction to Oil and Gas Joint Ventures

General - Background, purpose, approach (general and thought process), style of the venture structure. Establishing the joint venture - Bidding agreement, practical and preliminary considerations (operatorship and confidentiality), bidding agreement participating interests, identity of operator, duration of agreement, area of mutual interest, supervision of operations, assignment to third parties). The application, licence fees, grant of licence and rights, Joint operating agreements (scope, operating committee, programme, rights of partners, transfer of equity, withdrawal and default), unitisation agreements enlargement/reduction of the unit area, tract participation, redetermination, costs and production adjustments, non-unit operations, cost sharing) unitisation across borders. Joint VentureManagement, Operations - organisation, operator, operating committee, sub-committees, work groups, wider aspects (corporate, technology, financial), exploration (surveys, licences, drilling, improved technology, environment). Appraisal and conceptual development planning, project planning and implementation (project manager) and operating committee (design, schedule, contracting strategy). Production (operations facilities including use of FPSO's), pipelines, terminals and other responsibilities), Field Management (reservoir, costs end of life), Personnel, Safety, Transportation by tanker (ownership, revenue and costs). Transportation by pipeline (planning, viability and safety) Abandonment. Joint Venture agreements for associated services - Tankers (contacts or time and voyage charters, rights, legal aspects), Transportation of oil and gas by pipeline (agreements, terms, risks liabilities). Financing Economics, Tax, Safety, Insurances - Financing structures, risk allocation, farm-ins, economics and analysis, tax (exploration and production) Insurance as economic control, placing business, typical packages. Non-Operators Viewpoint - Monitoring, auditing, benchmarking and achieving operatorship.