Research On Joint Account Of Petroleum Cooperation Project

Joint Account is the account especially for petroleum cooperation project. It records the expenses detailed paid by each partner of petroleum contract, then distributes the production of accounting period.Joint Account is vital for petroleum cooperation project. It not only shows how much oil each partners share, but also shows which process the project goes on. It helps resource government to judge JMC's operating capability, and let investors calculate their revenues.Joint Account is so important that all partners focus on it. But in practice, for relative theory is very poor, many questions brought in petroleum cooperation project can't be resolve satisfactorily.This paper illuminates Joint Account and Production Sharing Contract of petroleum cooperation project scientifically and detailed. Further the paper interprets setup of account subjects and recording methods of Joint Account. Then the paper brings forward the questions on Joint Account current used in petroleum cooperation project.Based on practical experience of one year, the paper analyses those questions scientifically, systematically and dynamically from systematic view, and gives some feasible solution. To combine theories with practice, I not only did the practical work on a joint-venture oil project but also look up a lot of domestic and foreign materials and consult my supervisor and some oil experts. It took me one year to finish the paper.