Development Training Course on
Joint Venture GRC: Governance, Risk & Compliance in Oil & Gas
Driving Operational Oversight and Compliance in Energy Partnerships
Course Schedule
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Why Choose Joint Venture GRC: Governance, Risk & Compliance in Oil & Gas Training Course?
Joint Venture GRC: Governance, Risk & Compliance in Oil & Gas Training Course offers an immersive exploration of modern operational governance and strategic risk mitigation across energy consortiums. In complex upstream assets, participating companies join forces to pool financial resources, optimize capital distribution, and share substantial production risks. However, every participating entity remains independently answerable to its own board of directors, equity investors, and national energy regulators. While co-investors generally align on macro-level field development plans, serious operational friction routinely emerges over lower-level execution details—including authorization timelines for capital expenditure, the scope of operator auditing, and standardized breach notification protocols.
Implementing a structured governance framework is fundamental to defining clear voting rights, partner information access, and structured conflict resolution pathways. This comprehensive Joint Venture GRC: Governance, Risk & Compliance in Oil & Gas Training Course examines how governance, risk management, and regulatory compliance work together across every phase of the venture lifecycle. Participants analyze how joint operating agreements, shareholder contracts, and concession terms dictate voting thresholds, cash funding requirements, and partner verification mechanisms, effectively converting dense legal clauses into everyday operational controls.
Across this five-day training course, delegates engage with complex, practical scenarios covering unauthorized operator expenditures, contested joint account expenses, missed regulatory submission deadlines, and contractor ethics violations. Through interactive team exercises and a realistic committee simulation, participants gain actionable skills to evaluate evidence objectively, challenge operator proposals constructively, record binding resolutions, and raise the standard of venture-level governance.
What are the Goals?
This specialized training course equips participants with practical competencies to manage venture-level operations, financial controls, and regulatory duties effectively. The goals focus on aligning complex contractual frameworks with robust, everyday operational management practices.
By the end of this Joint Venture GRC: Governance, Risk & Compliance in Oil & Gas Training Course, participants will be able to:
- Distinguish the distinct roles, rights, and responsibilities of operators, non-operating partners, and joint venture committees.
- Translate complex joint venture agreements into clear decision rights, approval procedures, and structured escalation routes.
- Assess venture-level risks accurately and determine the precise level of oversight and assurance each specific risk requires.
- Evaluate internal controls over work programmes and budgets, cash calls, procurement processes, and joint account expenditure.
- Build a comprehensive compliance obligations register that assigns clear ownership and defines the necessary evidence for assurance.
- Utilize partner reporting, audit rights, and corrective action tracking to significantly strengthen joint venture oversight.
The Course Content
- Incorporated and unincorporated joint ventures in oil and gas
- How joint operating agreements, shareholder agreements and licence or concession terms interact
- Roles of the operator, non-operating partners and joint operating committee
- Delegated authority, reserved matters, voting thresholds and quorum requirements
- Conflicts of interest, affiliated-party transactions and partner information rights
- Workshop: Build a decision-rights matrix for a joint venture and identify which decisions require partner approval.
- Identifying operational, financial, commercial, HSE and regulatory risks across the asset lifecycle
- Reconciling different partner risk tolerances and agreeing when to escalate material exposures
- Assigning risk ownership and control responsibilities across the operator and partners
- Assessing operator capability, contractor dependencies and critical control performance
- Monitoring key risk indicators, early warning signals and corrective actions
- Workshop: Build a joint venture risk register and define the reporting and escalation thresholds for a proposed field development.
- Reviewing annual work programmes and budgets and challenging the assumptions behind them
- Authorisations for expenditure, budget changes and approval of cost overruns
- Cash calls, funding forecasts, partner payment obligations and default escalation
- Procurement approvals, contractor selection and controls over related-party expenditure
- Joint account cost allocation, supporting records, partner audit rights and disputed charges
- Workshop: Review a proposed budget increase and a disputed joint account charge, then determine the approvals, evidence and follow-up required.
- Mapping licence conditions, contractual commitments and applicable regulatory obligations
- Assigning responsibility for HSE, environmental and other regulatory submissions
- Anti-bribery controls, third-party due diligence and trade compliance where applicable
- Managing compliance breaches, evidence preservation and partner notification
- Coordinating investigations, regulatory disclosures and corrective actions
- Workshop: Build a compliance obligations register and respond to a suspected contractor integrity breach.
- Using operator self-assessments, partner reviews and independent audits to build an assurance plan
- Designing committee reports that highlight decisions required, overdue actions and emerging risks
- Documenting committee decisions, conditions of approval and dissenting views
- Escalating unresolved findings, partner disagreements and potential deadlocks
- Maintaining governance continuity through operator changes, partner exits and decommissioning
- Capstone simulation: Conduct a joint operating committee meeting to address a material cost overrun and a compliance incident, then prepare the decision record and action plan.
Certificate
- AZTech Certificate of Completion for delegates who attend and complete the training course
How Saudi Aztech Can Enhance Your Professional Career
At Aztech Saudi, we believe that professional development is the foundation of long-term career success. This training course is expertly designed to equip individuals with practical skills, forward-thinking strategies, and the confidence to navigate today’s dynamic work environments. Each course is delivered by subject matter specialists with extensive industry experience, ensuring that every learning experience is relevant, impactful, and aligned with real-world challenges. Whether you're looking to strengthen your technical expertise, enhance leadership abilities, or stay ahead of industry trends, Aztech Saudi provides the tools you need to elevate your performance and deliver measurable value to your organization.
Our training is more than just knowledge transfer—it’s a catalyst for career transformation. By participating in our courses, professionals gain a competitive advantage in their fields, improve their decision-making capabilities, and position themselves for new opportunities and leadership roles. We take pride in supporting individuals across various sectors and career stages, helping them unlock their full potential through high-quality, globally benchmarked learning experiences. With Aztech Saudi as your development partner, you’re not only investing in education—you're investing in a stronger, more successful future.
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Saudi AZTech offers a wide range of internationally benchmarked training courses across various disciplines including leadership, finance, engineering, project management, HR, and more. All courses are designed to meet the professional development needs of individuals and organizations in Saudi Arabia.
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