No of partners in the Joint Venture # of Partners 9+ 7 to 9 5 to 7 3 to 5 <2 % ownership in the JV JV Share 0 < x > 5% 5 < x > 10% 10 < x > 15% 15 < x > 25% > 25% Average Operating Budget/ Cost per year (last 3 years) Operating cost/ year 0 – 100 MUSD 100 – 300 MUSD 300 – 600 MUSD 600 – 1000 MUSD > 1500 MUSD License/ operation is located in Choose location Afghanistan Albania Algeria Angola Argentina Armenia Australia Austria Azerbaijan Bahrain Bangladesh Belarus Belgium Benin Bhutan Bolivia Bosnia and Herzegovina Botswana Brazil Bulgaria Burkina Faso Burundi Cambodia Cameroon Canada Cape Verde Central African Republic Chad Chile China Colombia Comoros Congo Republic Costa Rica Côte d´Ivoire Croatia Cuba Cyprus Czech Republic Democratic Republic of the Congo Denmark Djibouti Dominican Republic Ecuador Egypt El Salvador Eritrea Estonia Ethiopia Finland France Gabon Gambia Georgia Germany Ghana Greece Guatemala Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Israel Italy Jamaica Japan Jordan Kazakhstan Kenya Korea (North) Korea (South) Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libya Lithuania Luxembourg Madagascar Malawi Malaysia Mali Malta Mauritania Mauritius Mexico Moldova Mongolia Montenegro Morocco Mozambique Myanmar Namibia Nepal Netherlands New Zealand Nicaragua Niger Nigeria Norway Oman Pakistan Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Qatar Romania Russia Rwanda Sao Tome and Principe Saudi Arabia Senegal Serbia Seychelles Sierra Leone Singapore Slovakia Slovenia Somalia South Africa South Sudan Spain Sri Lanka Sudan Suriname Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand The FYR of Macedonia The United States Of America Timor-Leste Togo Trinidad and Tobago Tunisia Turkey Turkmenistan Uganda Ukraine United Arab Emirates United Kingdom Uruguay Uzbekistan Venezuela Vietnam Yemen Zambia Zimbabwe License/ operation is operated from Choose Location Afghanistan Albania Algeria Angola Argentina Armenia Australia Austria Azerbaijan Bahrain Bangladesh Belarus Belgium Benin Bhutan Bolivia Bosnia and Herzegovina Botswana Brazil Bulgaria Burkina Faso Burundi Cambodia Cameroon Canada Cape Verde Central African Republic Chad Chile China Colombia Comoros Congo Republic Costa Rica Côte d´Ivoire Croatia Cuba Cyprus Czech Republic Democratic Republic of the Congo Denmark Djibouti Dominican Republic Ecuador Egypt El Salvador Eritrea Estonia Ethiopia Finland France Gabon Gambia Georgia Germany Ghana Greece Guatemala Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Israel Italy Jamaica Japan Jordan Kazakhstan Kenya Korea (North) Korea (South) Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libya Lithuania Luxembourg Madagascar Malawi Malaysia Mali Malta Mauritania Mauritius Mexico Moldova Mongolia Montenegro Morocco Mozambique Myanmar Namibia Nepal Netherlands New Zealand Nicaragua Niger Nigeria Norway Oman Pakistan Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Qatar Romania Russia Rwanda Sao Tome and Principe Saudi Arabia Senegal Serbia Seychelles Sierra Leone Singapore Slovakia Slovenia Somalia South Africa South Sudan Spain Sri Lanka Sudan Suriname Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand The FYR of Macedonia The United States Of America Timor-Leste Togo Trinidad and Tobago Tunisia Turkey Turkmenistan Uganda Ukraine United Arab Emirates United Kingdom Uruguay Uzbekistan Venezuela Vietnam Yemen Zambia Zimbabwe Support operation location is Pending Input Not Different Different Partner Location for license Follow up Choose location Afghanistan Albania Algeria Angola Argentina Armenia Australia Austria Azerbaijan Bahrain Bangladesh Belarus Belgium Benin Bhutan Bolivia Bosnia and Herzegovina Botswana Brazil Bulgaria Burkina Faso Burundi Cambodia Cameroon Canada Cape Verde Central African Republic Chad Chile China Colombia Comoros Congo Republic Costa Rica Côte d´Ivoire Croatia Cuba Cyprus Czech Republic Democratic Republic of the Congo Denmark Djibouti Dominican Republic Ecuador Egypt El Salvador Eritrea Estonia Ethiopia Finland France Gabon Gambia Georgia Germany Ghana Greece Guatemala Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Israel Italy Jamaica Japan Jordan Kazakhstan Kenya Korea (North) Korea (South) Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libya Lithuania Luxembourg Madagascar Malawi Malaysia Mali Malta Mauritania Mauritius Mexico Moldova Mongolia Montenegro Morocco Mozambique Myanmar Namibia Nepal Netherlands New Zealand Nicaragua Niger Nigeria Norway Oman Pakistan Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Qatar Romania Russia Rwanda Sao Tome and Principe Saudi Arabia Senegal Serbia Seychelles Sierra Leone Singapore Slovakia Slovenia Somalia South Africa South Sudan Spain Sri Lanka Sudan Suriname Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand The FYR of Macedonia The United States Of America Timor-Leste Togo Trinidad and Tobago Tunisia Turkey Turkmenistan Uganda Ukraine United Arab Emirates United Kingdom Uruguay Uzbekistan Venezuela Vietnam Yemen Zambia Zimbabwe License has been audited before Last audited Yes – Last year Yes : 1 – 2 years ago Yes: 3 – 5 yrs ago Yes: > 5 yrs ago Never Audits normally cover Scope years 1 year 2 years 3 years 4 years 5+ years JOA Complexity and Unitisation JOA and Unitisation 1 JOA 2 – 3 JOA’s Unitisation + 1 JOA Unitisation + 2 JOA’s Unitisation 3+ JOA’s Auditee has been operator for Operator experience 5+ years 4 yrs 3 yrs 2 yrs 1 yrs Operator provides financial documentation in a timely manner Financial reporting on time Yes No Operator provides technical documentation in a timely manner Technical reporting on time Yes No The operators support organisation is sound and competent Support organisation is good Yes Need some improvement No The operators operational organisation is sound and competent Support organisation is good Yes Need some improvement No The operators HSSE records are good and LTI is strong HSSE records are good Yes Need some improvement No Operator is using the following ERP system ERP system used SAP/ ORACLE Other The Transaction file contains on avarage / year JADE transactional size < 20 000 lines 20 – 100 000 lines 100 – 500 000 lines 500 – 800 000 lines 800 000 + lines Operational expenses have increased/ decreased over the past 2 years by Operational expenses < 2% 2-5% 5-10% 10 – 20% 20+ % G&A cost level G&A expenses < 2% 2-5% 5-10% 10 – 20% 20+ % Corporate Cost allocation by Operator is Corp Cost allocation levels < 2% 2-5% 5-10% 10 – 20% 20+ % Tax regime complexity (Offshore/ Onshore/ VAT/ Sales Tax etc) Tax Regime/ complexity Low Medium High Very High % of transactions which are settlements (Automatic/ Manual) JADE transactiosn as settlements <2% 2 – 5% 5-10% 5+% Our MC representative is concerned about the license Our MC rep is concerned No Yes Our Technical personnel is concerned about the operation Our tech people are concerned No Yes Our Management team is concerned about the operation Our Management is concerned No Yes We have limited resources to follow up on the license/ asset We have limited resources to follow the license No Yes # of Producing wells Prod. Wells 1 Prod. wells 2 – 4 Prod Wells 5 – 10 Prod. Wells 10 – 15 Prod. Wells 15+ Prod. Wells # of exploration wells last 18 months Expl. Wells 0 Expl. Well 1 Expl. Wells 2 Expl. Wells 3 – 5 Expl. Wells 5 + Expl. Wells Onshore or Offshore operation On/Off-shore Operation Onshore Offshore Onshore and Offshore
Welcome to the Risk, Resource and Budget Estimation tool.
This model was developed to provide users with a quick method to estimate Resource requirements and Budget for a JV Audit based on 3 key parameters; RISK LEVEL, AUDIT SCOPE (USD), and the AUDIT LEVEL to be performed. Here is some information related to the basis for the Results presented.
The Resource takes into consideration the following; 1.) The Audit Level – The more detailed, the more resources and/ or time is required 2.) The Risk Level of the License/Asset – The lower the risk, the less time and resources is required.
The budget takes into consideration the following; 1.) Audit period incl. Preperation and Closing time before/after Fieldwork period, 2.) Travel and Accommodation expenses and 3.) Number of recommended resources.
Please Note that the budget graph may seem “strange” but please see the x-axis label which indicates weeks/ auditors combination. The estimated budget is reflecting this combination and correlates with the Blue Resource line and respective Weeks in the Resource graph.
Now it is time to use the model, once you have inputted the requested information, hit the SHOW RESULT button and voila…….. Use the Advanced Version for a more detailed Risk Assessment of the license/ asset. We hope you find this tool helpful and we would appreciate any feedback you may have, both to the results shown and the parameters used.
Please note that the results do not reflect TJAVR Consulting Ltd. own rates nor estimated time and resource requirements. Please use the Request A Quote Form (See Rate Page) or contact us, so that we can provide you with a quote based on your requirements. The model presented here is a “light” version of the RISK, RESOURCE & BUDGET ESTIMATION TOOL, used by TJAVR Consulting Ltd.