Jawad Razzaq

Seeking a challenging position in organization where acquired skills and knowledge will be result oriented and utilized towards continued growth and development.

Pakistan Oil fields Limited
August 2007 to date as Deputy Manager - Joint Ventures

In POL, I am responsible for managing eight operated and twelve non-operated joint ventures. My specific responsibilities include:
• Preparation of Cost Statements for operated Joint Venture.
• Review of Cost Statements for Non -Operated Joint Venture recording respective share of expenses in POL books.
• Ensuring compliance with petroleum concession agreement, joint operating agreement and accounting procedures.
• Allocating salaries, benefits and fixed costs of the head office/fields to the joint venture in accordance with the activities.
• Charging of inventories owned by the Operator as per the terms of PCA.
• Liaison with Govt. authorities, Joint Venture Partners and Ministries.
• Preparation and presentation of budgets before partners for operated joint ventures and analyzing the same for Non Operated JVs in the Operating Committee meeting.
• Preparation of cash calls for operated joint ventures and verifying/approving the same for non-operated JVs.
• Conducting and finalizing joint venture audits and providing major inputs for the company’s statuary audit.
• Preparation of feasibilities/economics for various oil and gas projects.
• Planning and conducting Non Operator’s audits of JVs.
• Reviewing daily well cost reports and comparing with approved budgets for any over runs.
• Planning and conducting Operating Committee Meetings.

The skills that I developed are:

• Understanding the petroleum policy, petroleum concession agreements and joint operating Agreements.
• Improved abilities to communicate both inside and outside the organization and to negotiate terms.
• Mechanism of preparing budgets for exploration and development wells.
• Identifying areas of additional recoveries where POL is operator.
• Controlling costs where POL is a non-operator.
• Practical experience of using software (PEEP) for calculating Economics.
• Basic understanding of drilling, seismic surveys and reservoir engineer

Bachelor in Commerce (B.Com) from Punjab College of Commerce, Punjab University. (Position Holder)

Member Institute of Chartered Accountants of Pakistan (ACA).

As evident from my experience at M/s A. F. Ferguson & Co, my exposure was mainly to the audit of various Oil & Gas Companies and Joint Ventures significantly helped me in the performance of my job at POL and includes practical exposure of the activities that were being conducted from the other side of the table during my article period. I have sound understanding of International Accounting Standards and other regulations applicable to Oil Companies accounting. .