The Imperial Corporate Training Institute offers Oil and Gas Joint Venture Internal Controls Training Course is designed to provide in-depth knowledge of the various controls within the joint venture Oil and Gas environment through a hands-on approach to the construction and operation of these control environments. Joint ventures in the Oil and Gas industry involve unique and complex financial arrangements, as well as shared accountability, with multiple investors involved in joint ventures. The focus of this training course is on the design, development, and use of internal controls within oil and gas joint venture operations, to promote transparency and accountability, enhance operational efficiencies.
This Oil and Gas training course uses a structured and industry focused approach to explore the governance, operational, buying, accounting, and regulatory control mechanisms that support sound decision-making and risk management with a positive impact on joint ventures. In addition, participants will gain a better understanding of the internal control environment of joint ventures, including: delegation of authority; audit compliance; budgeting; reporting; and methods for cost recovery while meeting regulatory requirements associated with Joint Operating Agreements and related audit compliance. This Oil and Gas training course provides the necessary combination of practical experience and up-to-date theory to the benefit of all participants involved in managing or supporting oil and gas joint ventures.
Objectives
By completing this training course, participants will be able to:
- Comprehending how internal controls function and why they are critical to oil and gas joint ventures
- Examine how various joint venture structures will affect the way they manage their internal controls
- Create and assess an internal control system based upon their joint operating agreements
- Improving financial and operational controls to minimize their risk and inefficiencies
- Maintaining audit compliance with contractual, regulatory and partner obligations
- Recognizing common internal control deficiencies amongst joint ventures and creating solutions for those deficiencies
- Increasing the amounts of governmental, social, community and regulatory transparency, accountability, and governance of shared oil and gas projects
- Application of industry best practices to monitor, report and continue to improve an internal control system.
Target Audience
This oil and gas training course is designed for professionals involved in joint venture management and oversight, including:
- Joint venture managers and coordinators
- Finance and accounting professionals in oil and gas companies
- Internal auditors and compliance officers
- Cost controllers and budgeting specialists
- Contract and commercial managers
- Risk management professionals
- Operations and project managers working within joint ventures
- Government and regulatory personnel overseeing oil and gas joint ventures