Joint Operations, A Way of Sharing Risks & Reward in Petroleum’s E & P Segment
Joint Operations, A Way of Sharing Risks & Reward in Petroleum’s E & P Segment Instructor: Mr. Jimmy Karnadi August 28 th – 30 th 2013 – Tentrem Hotel Yogyakarta COURSE OBJECTIVES Operating in oil and gas industries, for sure it is understandable by every body that it involves capital intensive, yet the success ratio in these industries is very low. In an attempt to minimize risks and at the same time to gather the needed capital which the E & P companies should spend, they form Joint Operation to achieve their aims. To enable to operate, do proper recording and make correct reporting of your company, either as an operator or non operator as the case may be for your company, each of you should know the basic legal form of the Joint Venture Agreement, Joint Operating Agreement, Accounting Procedure and any other matters that your company has entered an agreement into. Your company may enter into various Joint Venture Agreements, through Far