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Risk Mitigation Using Joint Venture Agreement in the Upstream Petroleum Industry

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RISK MITIGATION USING VENTURE AGREEMENTS IN THE UPSTREAM INDUSTRY
(A CASE STUDY AND MODELLING APPROACH)

BY

SODE ADESOJI O. (51124473)

AUGUST 2012

A Dissertation Presented In Partial Fulfillment Of The Requirements For The Degree Of
MSc. International Business Energy And Petroleum
At
The University Of Aberdeen

DECLARATION
I declare that this thesis has been composed by myself, that it has not been accepted in any previous application for a degree, that the work of which it is a record has been done by myself, and that all quotations have been distinguished appropriately and the source of information specifically acknowledged.

Signed: ………………………………………………………..

Name: ………………………………………………………..

Date: …show more content…

ting Risk through Joint Venture Agreements
2.10 Case Study 1
“CONOCO POLAR LIGHTS JOINT VENTURE IN THE RUSSIAN FEDERATION A SUCCESSFUL STARTUP EXPERIENCE” 2.10.1 Structure of Joint Venture 2.10.2 Partner Selection & Choice 2.10.3 Contractual Terms 2.10.4 Venture related Risks 2.10.5 Learning Highlights
2.11 Case Study 2
“ECUADOR ORIENTE BASIN BLOCK 16: AN EXPLORATION AND PRODUCTION JOINT VENTURE” 2.11.1 Structure of the Joint Venture 2.11.2 Venture related Risks 2.11.3 Exploration & Production/ Conoco Corporation’s Withdrawal 2.11.4 Economic, Financial & Political Setbacks 2.11.5 YPF South America Intervention 2.11.6 Learning Highlights

Chapter 3 Data, Methodology & Modelling
3.1 Introduction
3.2 General Parameters
3.3 Field Parameters
3.4 Methodology 3.4.1 Scenario 1 (NOC & Investor) 3.4.2 Scenario 1 Monte Carlo Simulation 3.4.3 Scenario 2 (NOC, Investor and other partners) 3.4.4 Scenario 2 Monte Carlo Simulation 3.4.5 Scenario 3 (Budget Allocation) 3.4.6 Scenario 3 Monte Carlo Simulation

Chapter 4 Model Results, Limitations & Discussion
4.1 Introduction
4.2 Scenario 1 Analysis 4.2.1 Appraisal Result 4.2.2 Simulation Result 4.2.3 Sensitivity Analysis
4.3 Scenario 2 Analysis 4.3.1 Appraisal Result 4.3.2 Simulation Result 4.3.3 Sensitivity Analysis
4.4 Scenario 2 Analysis 4.4.1 Appraisal Result 4.4.2 Simulation Result 4.4.3 Sensitivity Analysis
4.5 Assumption Limitations
4.6

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