Auditing and Governance Risk and Compliance

Auditing Oil and Gas Joint Ventures

Oil and gas joint ventures share costs and revenues among partners under complex operating agreements. This course covers joint venture auditing: joint operating agreements, accounting procedures, cost recovery and allocation, overheads, authorisations for expenditure, production and revenue sharing, audit rights and dispute resolution.

5 days Classroom or live online English

Smart Horizon Certified - Global Leadership Consultants

Take the course details with you.

Download the full standard outline: why attend, methodology, objectives, audience, competencies, the daily outline and current plans.

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Why attend

From knowledge to real-world impact.

Non-operating partners can lose significant sums through incorrect billing. You will learn how to audit joint venture accounts effectively.

Workplace challenges

Professional Problems This Course Is Designed to Solve

The programme explores practical approaches to the following challenges. Results depend on how the learning is applied in your organisation.

Difficulty translating subject knowledge into practical workplace decisions.
Inconsistent approaches to the activities covered in the course outline.
Lack of a structured plan for applying and reviewing new skills.

Course methodology

How you will learn.

Agreement analysis, billing review exercises, case studies and audit planning workshops.

Course objectives

What you'll take away.

By the end of this course, participants will be able to:

Explain joint venture structures and agreements
Interpret accounting procedures
Audit cost allocation and overhead charges
Review authorisations for expenditure
Audit production and revenue sharing
Exercise audit rights and resolve exceptions

Target audience

Who should attend.

This course is suitable for:

Joint venture auditors
Oil and gas accountants
Internal auditors in energy
Non-operator partner representatives
Commercial managers

Target competencies

Capabilities you will build.

Participants will develop competencies in:

Agreement interpretation
Cost allocation review
Billing audit
Revenue verification
Exception resolution

Course outline

Your learning journey.

A focused, practical outline with time to explore, apply and reflect.

Day 1Joint Ventures

09:00–10:08JV structures
10:08–11:00Operator and non-operator roles
11:00–11:30Coffee break
11:30–11:45Operator and non-operator roles (continued)
11:45–12:53Key agreements
12:53–14:00Exercise

Day 2Accounting Procedures

09:00–10:08Chargeable costs
10:08–11:00Overheads
11:00–11:30Coffee break
11:30–11:45Overheads (continued)
11:45–12:53Allocation methods
12:53–14:00Workshop

Day 3Expenditure

09:00–10:08AFEs
10:08–11:00Procurement by operators
11:00–11:30Coffee break
11:30–11:45Procurement by operators (continued)
11:45–12:53Billing review
12:53–14:00Exercise

Day 4Production and Revenue

09:00–10:08Lifting and entitlement
10:08–11:00Revenue sharing
11:00–11:30Coffee break
11:30–11:45Revenue sharing (continued)
11:45–12:53Measurement
12:53–14:00Case study

Day 5Audit Rights

09:00–10:08Planning JV audits
10:08–11:00Exceptions
11:00–11:30Coffee break
11:30–11:45Exceptions (continued)
11:45–12:53Resolution
12:53–14:00Action plan

The timings provided are estimates and may vary depending on the number of participants and the discussions taking place during the sessions. They are indicative only and do not constitute a binding commitment.

Dates & venues

Find a session that works for you.

Confirmed dates accept registration requests. Tentative dates are enquiry only.

Good to know

A few things to know.

How is the course delivered?

Our classroom programmes combine facilitated discussion, case studies, exercises and reflection. The precise format will be confirmed before enrolment.

Can you deliver this programme for our team?

Yes, you can enquire about a tailored programme. Share your goals, group size and preferred dates with our learning team.

Will I receive a certificate?

Participants who complete the programme receive a Smart Horizon certificate of attendance. Smart Horizon programmes are not externally accredited and do not award a professional qualification, licence or designation. Where a course title or outline refers to a professional certification (for example, AACE International's Certified Cost Professional), the programme supports learning and preparation only; the credential itself is awarded solely by the relevant professional body under its own application and examination requirements.

What should I confirm before booking travel?

Please confirm the session, exact venue, accessibility arrangements, fees and any visa requirements with the team before arranging travel. Tentative dates are not confirmed sessions.

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