Joint Venture Audits

Even though most operators are honorable in their business practices, overcharges by the operator to non-operators in a joint-venture can and do occur as a result of clerical errors, computer errors and disagreements in specific details of the contract. The result is charge-backs to the operator. Consider this likelihood, is it not reasonable to assume that the operator makes some of these same mistakes against itself as it does to non-operators/ Of course it is, and therein lays the opportunity.

To capitalize on this opportunity to recapture money that is rightfully and contractually yours, one has to review all charges from the operator to non-operators to ensure that every type of charge permissible by the contract to the non-operators. You have to verify that every permissible quantity is fully utilized and that every “gray” area is completely exploited with all charges being documented and defensible. It’s a must for material changes to have been incorporated into the billing process.

Our experienced joint-venture team can readily identify:

• Symptoms of joint-ventures in need of review
• Symptoms that would signal the joint-venture projects are being poorly managed by the operator
• Specific items that often go uncharged to non-operators

The opportunity is not small, to the contrary, your company could literally recapture millions of dollars when our company, International Commerce Inc, performs a joint-venture from the operators point-of-view. Don’t give away another dollar or worse yet, millions of dollars. Our team leader recently recaptured $12 million for an operator. Learn how much he can recapture for you.

 

Contact Jack Pizzitola today.
jack@ici-1.com or call 713-502-1411.