# Joint Venture Accounting in the Oil and Gas Industry

> Account for oil and gas joint operations: cash calls, cost allocation, billing, audits and cost recovery.

- **Provider:** Afriskora Training Solutions
- **Category:** Oil, Gas, Mining & Energy
- **Duration:** 5 days
- **Formats:** classroom (cities across Africa), live virtual (Zoom/Teams), in-house for teams
- **Certificate:** Afriskora Certificate of Completion, verifiable online
- **Booking:** request dates and a quote; invoice and EFT payment
- **Web page:** https://afriskora.co.za/courses/oil-gas-mining-energy/joint-venture-accounting-in-the-oil-and-gas-industry
- **Request dates:** https://afriskora.co.za/request-training?course=joint-venture-accounting-in-the-oil-and-gas-industry

## Overview

Most oil and gas operations are joint ventures, and accounting for them has its own rules and disputes. This course covers joint operating agreements, accounting procedures, cash calls, cost allocation, partner billing, audit rights, cost recovery under production sharing contracts and IFRS 11 treatment.

## Who should attend

- Oil and gas accountants
- JV and partner relations staff
- Auditors and cost recovery officers
- Government petroleum revenue officials

## Learning outcomes

- Interpret JOAs and accounting procedures
- Manage cash calls and partner billing
- Allocate costs correctly
- Conduct and respond to JV audits
- Apply cost recovery and IFRS 11 principles

## Course outline

### Day 1: Joint ventures

- JV structures
- Joint operating agreements
- Operator and non-operator roles
- Governance committees

### Day 2: Accounting procedures

- Chargeable costs
- Overheads
- Cash calls
- Billing statements

### Day 3: Cost allocation

- Allocation methods
- Material and inventory
- Shared services
- Disputes

### Day 4: Audits

- Audit rights
- Audit process
- Common findings
- Resolving exceptions

### Day 5: Cost recovery and reporting

- Cost recovery under PSCs
- Government audits
- IFRS 11
- Case study