Where possible the industry leading software package was selected. There are several ways in which the government raises funds from licensing, including entering into a joint venture agreement with the oil and gas company to share profits. Managing the threat posed by terrorist activities. Start display at page:. Managing the risk of oil and gas exploration which results in an unsuccessful oil or gas field that cannot be taken into production.
Therefore, the length of time that oil reserves will last is expected to exceed 40 years. Companies bidding for potentially lucrative licences have sometimes made illegal payments to government officials or their representatives to gain favour. The time taken from identification of a potential oil and gas field to the start of oil being produced normally varies between one and three years, depending on the technical difficulties being faced. The IT systems are fully integrated and enable the production of executive summary reports as well as the ability to drill down to gain specific data on each entry or event. The team has been extremely successful to date with only one failure see below.
CIMA Global Business Challenge. Case Study. YJ – Oil and gas industry
Oil Spill Emergency Response. At the first board meeting after Ullan Shah had been appointed, he informed his colleagues that he wants YJ to identify and bring new oil and gas fields into operation at a faster rate than currently achieved. Some of these Asian and African government officials have requested payment of fees, which Jason Oldman considers to be bribes. Additionally, most governments also impose a royalty tax, based on a percentage of the market value of the oil and gas production.
CIMA Global Business Challenge. Case Study. YJ – Oil and gas industry – PDF
Initial Public Offering Are you ready to float? Financial management is essential More information. These natural gas reserves are based on geological and engineering information on the volumes that can be extracted using existing economic and operating conditions. It was able to secure this funding after successful test drilling and obtaining licences, and obtaining an independent report on the proven oil and gas reserves at these two locations.
He joined YJ four years ago when its first oil field was licensed and ready to be drilled. The shares are held as follows: Sign up to access the rest of the document.
He fully understands the enormous risks facing employees, sub-contractors and the environment during the oil exploration phase and the additional risks faced during oil production.
Some of these Asian and African government officials have requested payment of fees, which Jason Oldman considers to be bribes.
Yj oil and gas industry case study – Oil & Gas Industry – Term Paper
Also there is an increase in oil and gas exploration being undertaken in, and around the coasts of, Asian and African countries. Continuous improvement of HSE performance by monitoring, reporting and on-site audits. They have a wide knowledge of the industry and their employees have the expertise and skill base to research and identify possible oil and gas fields, and to bring those with the most potential into production.
Test or Exploration wells. Therefore, before oil and gas production can commence, it is necessary to undertake preliminary test drilling to confirm exactly where cija oil or gas busindss are and the size of the reserves.
Par value is the book value of each share it is rarely the market value. Sustainable Solutions for the Oil and Gas Industry The world s leading sustainability consultancy Sustainable Stdy for the Oil and Gas Industry The oil and gas industry currently globl the greatest environmental, health and safety challenges in its More information.
A PSA licence is where the government will take an agreed negotiated percentage share in the profits generated by the production of oil and gas, i.
All three of the oil and gas fields that are currently in operation were identified and discovered and brought into production solely by YJ with no other company involved.
To date, YJ has been successful in identifying and bringing into production three oil and gas fields. The world has buslness living in fear that oil will ran out. Since YJ was listed on AIM in husiness, it has applied for a total of eight licences for test drilling, including the four it is awaiting to hear whether it will be given a licence for. The sales can generate a large More information. To date, YJ has not participated in either of the farm-in or farm-out possibilities.
Recognition and Measurement Objective 1 The objective of this More information. It is not known how long the world’s oil reserves will last.
Each country around the world owns the mineral rights to all gas and oil below ground or under the sea within its husiness waters. YJ will need to either secure additional equity or loan finance if it is granted any other licences, or it may be able to use some of its cash gaas from operations. Milo Purdeen Director of Exploration and Jason Oldman Director of Legal Affairs have worked closely to meet all of the requirements of the licence applications for the four identified potential oil and gas fields.
In order to satisfy all of its shareholders and other stakeholders, Gsa always considers the implications of its actions and CSR is incorporated into its management systems and procedures.
Money in notes banknotes and coins is called cash. This is clearly self-defeating! The following seven reconciliations provide details of the impact More information.