Why Petroleum Resolution Envoys?
Introducing Petroleum Resolution Envoys – a new way to solve non-core legacy JV disputes
Many, if not an overwhelming majority, of oil and gas companies have legacy and long-term disputes that carry from year to year. The problem with disputes with Joint Venture partners is that the underlying issues that led to the initial dispute do not easily get resolved.
Over time, these legacy disputes become more complex and with no current management ownership, there will be mounting expenses and a drain on resources which makes commercially sound and amicable resolutions harder to achieve. The diversion of resources away from operations makes it harder to justify to shareholders these mounting costs without a pathway to resolution. It demands an expeditious resolution!
Petroleum Resolution Envoys (PRE)(www.petroleumenvoys.com) provides transitional servicein a defined timeline to assist joint venture partners, buyers and suppliers and other participants in the energy supply chain, to efficiently resolve a JV problem at any early stage, before they become a significant issue to the business. It can assist to develop options for exit strategies for the stakeholders.
PRE provides an independent & integrated approach and agrees the mandate with participants in the process and agrees the commercial terms and timeline for resolution. It then identifies key issues, rigorously reviews supporting documentation and with numeric and empirical analysis provides risk/reward metrics to assist in creating a “ball-park” of understanding of the issues. Simultaneously, it works with other parties using “Shuttle Diplomacy” to understand alternative views in determining an overall understanding and possible options for solution of the dispute within a strict time-line.
PRE working with parties steers the negotiations and mediation for a settlement that is a
win:win outcomes to all parties.
Who is PRE?
PRE has an extensive capability to provide this resolution service based on the combined 50+ years of experience by the directors of Vivek Chandra and Geoff Widmerin their work on commercial and technical matters in the energy and resources sectors. Their capabilities are underpinned by their collective energy and resources experience, qualifications and communications skills
Energy and Resources Expertise
Vivek Chandra has extensive international oil and gas experience including roles as senior executive with large and small E&P companies, government body, and international service companies. He has worked in Australia, the Middle East, United States and SE Asia. His focus has been on the commercial agreements in JVs from asset commercialisation, gas contracts and divestments. He has worked for companies such as Schlumberger, ARCO/BP, Nexus, Dolphin Energy, and Dubai Government.
Geoff Widmer has considerable oil and gas industry expertise from Australian and International senior executive commercial and board positions in the E&P sector of the energy sector. This covers asset commercialisation and divestment, M&A, commercial operations with differing Production Sharing Contracts in Asia and the Americas. He has worked for companies such as the Total Group and Santos.
Vivek Chandra has degrees from the Colorado School of Mines (Geophysical Engineering), University of Pennsylvania (Petroleum Energy Management), French Petroleum Institute (Petroleum Economics), and Deakin University (Masters in Commercial Law and PhD candidate in International Law). He is a member and also a Fellow candidate of the Singapore Institute of Arbitrators, SPE, Chairman of the Melbourne Petroleum Club, and Association of International Petroleum Negotiators (AIPN). Vivek is also the author of Fundamentals of Natural Gas, an international bestseller hardcover book published by Pennwell (USA), he is a recognized natural gas expert, and he lectures widely on gas matters and hosts regular industry seminars.
Geoff Widmer has a degree in Economics (Monash University) and an MBA (Queen’s University, Canada). He is also a Fellow of the Australian Institute of Company Directors, a member of the Governance Institute of Australia (Graduate Diploma Advanced Corporate Governance) and a Member of the SPE and AIPN. He publishes ThePalliser Report that comments on upstream energy and associated commercial issues.
Skills- Processes and Communication
PRE has demonstrated skills as providing clear advice and understanding based on option development through rigorous document reviews, numeric and empirical analysis. It provides an independent & integrated approach to deliver transparent innovative commercial solutions that are win: win outcomes for stakeholders. Both directors have strong verbal and written communications skills that can address the JV issues and dynamics and nuances needed through “shuttle diplomacy”to affect a resolution.
The Petroleum Resolution Envoy team provides a compelling and experienced capabilityavailable to undertake and coordinate resolution of industry disputes. With “shuttle diplomacy” as their mantra, they work practically with parties to resolve outstanding commercial and technology disputes expeditiously to reach solutions that provide win: win outcomes to all parties.