Joint ventures are partnerships where two or more companies work
together. Petroleum companies form joint ventures for many reasons.
These may be to share costs and risks, to leverage economies of
scale, to access new technologies and customers, or to improve
access to financial resources.
Whatever the reason, companies must select the right partners,
establish clear objectives and create the proper management
structure to make the joint venture work. They must execute
contracts, maintain strong working relationships and mitigate
issues that come up.
Joint Venture Representatives lead this challenging process from
concept through execution. Would you enjoy promoting your business
to prospective partners? Can you see yourself negotiating and
drafting detailed agreements, analyzing and administering
contracts? Could you ensure that implementation happens as it's
supposed to? Are you skillful at conflict resolution?
If your answer to these questions is yes, consider a career as a
Joint Venture Representative!
What does a Joint Venture Representative do?
Joint Venture Representatives develop, negotiate, and monitor
formal agreements for joint ventures. They make certain that the
company's best interests are served, and the agreements can be
implemented successfully. They work closely with other disciplines
such as engineering, field operations, land management, marketing,
legal counsel, accounting and auditing. Job duties include:
- Negotiating production facility
ownerships, processing and transportation agreements.
- Monitoring costs, production volumes,
profitability and audits, through analysis of productionreports,
operating expense and capital budgets.
- Providing input into the development
and design of a production facility.
- Resolving business and technical
conflicts.
- Establishing and maintaining good
relations with joint venture associates.
- Participating in corporate property
acquisition and divestiture programs.
- Coordinating all administration
duties pertaining to the ongoing operation of aproduction
facility.
How do I become a Joint Venture Representative?
Two industry-recognized certificate programs have been developed
by the Petroleum Joint Venture Association (PJVA) in collaboration
with Mount Royal University in Alberta. These are the Petroleum
Joint Venture Administrator Certificate and the Petroleum
Joint Venture Analyst Certificate. Several scholarships are
available to oil and gas students. You can find moreinformation at:
www.mtroyal.ca.
An Energy Asset Management Diploma is available from
the Southern Alberta Institute of Technology (SAIT). The two-year
program was developed in partnership with The Centrefor Energy
Asset Management Studies (CEAMS). Energy Asset Management is
defined asthe management and administration of regulatory,
financial and contractual compliancepertaining to energy assets.
The disciplines involved are: Joint Venture, Land,
ProductionAccounting, Operations Accounting, and Well Operations.
See more information at:www.ceams.org or www.sait.ca.
What are the working conditions like?
Joint Venture Representatives spend much of their time in office
environments. However, they must be familiar with the physical
facilities and geographic producing areas in order to develop
viable agreements. This means travelling to field sites as
required.
Do I fit the bill?
Do you think you have what it takes to become a Joint
Venture Representative?
- I have an interest in economics,
finance, tax, accounting and acquisitions.
- I'm a good listener and I can adapt
my style to different audiences.
- I try to understand other people's
points of view, especially when they are different than
mine.
- I am skillful at resolving conflicts
and reaching agreements in difficult one-on-one or group
situations.
- I can think on my feet and provide
credible responses on short notice.
- I bring integrity and trustworthiness
to relationships, no matter the challenges.
- I like using different computer
software to create documents, spreadsheets and
databases.
- Accuracy and attention to detail are
my forte!
- I can work effectively on my own, and
as a member of a cross-functional team.
- I have the flexibility to work
demanding hours, and can travel if necessary.
- I think a career as a Joint Venture
Representative is exciting, and I'm up for the challenge and
experience!
Quick tips and next steps!
- Investigate post-secondary education
options, including the EnergyAsset Management program at
SAIT.
- Attend meetings held by professional
associations such as thePetroleum Joint Venture Association,
Canadian Association ofProfessional Landmen and the Canadian
Association of PetroleumLand Administrators to network with
professionals in the business.
- Download Joint Venture Views
to find articles about current projectsbeing worked on by the
Petroleum Joint Venture Association (PJVA)at: www.pjva.ca.
- Download The Negotiator, a
publication by the Canadian Associationof Petroleum Landmen at: www.landman.ca.
- Look for summer jobs in Land
Departments and get some related experience.
- Check out local libraries for books
about joint ventures including one entitled Introduction to Oil
and Gas Joint Ventures, published by Oilfield
PublicationsLimited (OPL).
Want more info?
For information on other industry occupations check out
www.careersinoilandgas.com.