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International Oil & Gas Industry Specialists |
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| Joint Venture Auditing |
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In order to spread the considerable risk and costs associated with oil & gas exploration investors form partnership groups with one of the partners, known as the “Operator”, chosen to manage the venture funding. The Operating Agreement gives the non-operating partners an annual opportunity to audit the Operator’s management of those funds.
Garson Maclean has considerable experience of representing non-operating clients on these joint venture audits, either as lead or participant. The audits themselves cover all aspects of commercial exposure, including well accounting, tariffs, logistics, overheads, inventory etc. Audit Teams are often multinational and the audits usually take place in the country of operations. |
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