- PJVA's Mission
- Objectives of the Association
- What is a Petroleum Joint Venture?
- What is a Joint Venture Specialist?
- What are Typical Joint Venture Tasks?
- The Principle Disciplines of Our Members
- The 5 Year Vision
The mission of PJVA is to enhance the efficiency and effectiveness of petroleum joint venture relationships and activities.
Objectives of the Association
August 4, 2017
The Board is proposing a change to the Objectives in order to clearly define point number two (2). This motion will be put to a vote at the September 13, 2017 annual general meeting at The Bow Valley Club - 370, 250 – 6 Avenue at 11:30 am.
Be it Resolved that point # 2 of the Petroleum Joint Venture Association Objectives be changed from:
2. participating in, developing and/or endorsing, recommended practices and procedures for petroleum joint venture matters;
2. participating in, developing and/or endorsing, and maintaining recommended practices and procedures for petroleum joint venture matters; “
The objectives of the Association shall include:
- developing and maintaining model agreements for petroleum joint venture matters;
- participating in, developing and/or endorsing recommended practices and procedures for petroleum joint venture matters;
- providing a forum for addressing petroleum joint venture issues;
- improving membership knowledge and skills in petroleum joint venture matters through continuing education, monthly luncheons, and annual conferences;
- providing opportunities for networking among Members; and
- promoting an understanding and appreciation of the joint venture discipline within the oil and gas industry.
What is a Petroleum Joint Venture?
An agreement between two or more oil and gas companies for the purpose of development and production of oil and gas properties. The agreement defines the property, most commonly a "production facility", the relationship between the parties and the responsibilities assigned to the parties.
Typically a Petroleum Joint Venture does not include joint exploration activities, nor does it include marketing activities.
What is a Joint Venture Specialist?
An oil and gas company's front line representative responsible for transacting and managing joint venture agreements. Joint Venture Specialists provide a liaison between the land, accounting, engineering, marketing and legal departments, as well as field offices.
What are Typical Joint Venture Tasks?
- Negotiate production facility ownerships, processing and transportation agreements.
- Monitor costs, production volumes, profitability and audits, through analysis of production reports, operating expense and capital budgets.
- Provide input into the development and design of a production facility.
- Manage the resolution of business and technical conflicts.
- Establish and maintain good relations with Joint Venture associates.
- Coordinate all administration duties pertaining to the ongoing operation of a production facility.
The Principle Disciplines of Our Members
The variety of membership backgrounds is one of the unique things about PJVA. We are multi-disciplined, a critical requirement for successful, professional joint venture negotiating, operating, working and succeeding together.
PJVA members include Engineers, Landmen, Geologists, Accountants, Lawyers, Analysts, Administrators, Petroleum Marketers and Buyers as well as others, from educational institutions, government agencies, research groups and junior, intermediate and major oil and gas corporations.
The 5 Year Vision
Annually, the PJVA Board of Directors meet to discuss ongoing business matters and design a strategy for new business initiatives. We work diligently to propose goals that that are timely and consistent with Industry needs and the three main pillars of our business, namely:
- Education; and
Together our Board create and manage joint venture model agreements, joint venture education (seminars, certificate programs and online courses), industry best practices, networking forums, and we oversee 100+ driven volunteers who provide their time and effort to make PJVA an exceptionally well known and effective association.
The PJVA represents and supports individuals and organizations involved in petroleum joint venture. PJVA is the gold standard in Western Canada for joint venture education, development and maintenance of model agreements, industry best practices, and networking. We recognize that in true joint venture fashion, we are stronger, together. We believe in collaboration, in relationships, in our volunteers and, we believe in our business.