Introduction:
All lawyers, business people, and contract managers involved in the upstream oil and gas industry must stay informed on the ever-changing legal and regulatory landscape that governs these contracts.
The Upstream Oil and Gas Contracts Training course gives participants comprehensive knowledge about the various kinds of upstream petroleum contracts, their distinctions, and the key phrases they need to know in order to comprehend them all.
Course Objectives:
By attending this Upstream Oil and Gas Contracts training course, you will:
- GAIN in-depth knowledge and further understanding of more agreements that are in common use in the upstream oil and gas industry
- FIND OUT more about the essential bidding and tendering phase
- BECOME familiar with Production Sharing Contracts
- LEARN about how to deal with negligence and nuisance claims
- RECOGNISE the importance of the five key clauses that every oil and gas professional should be familiar with
- MASTER the drafting of service agreement contracts
- UNDERSTAND the importance of contract risk management post Macondo
Who Should Attend?
Upstream Oil and Gas Contracts training course, is ideal for :
- In-house lawyers
- Contracts and business development managers
- Contract analysts
- Procurement managers
- Legal advisers to the oil and gas industry
- And contract engineers representing international petroleum companies, contractors and sub-contractors to the petroleum industry together with host governments.
Course Outlines:
Bidding and tendering for oil and gas contracts
- Tender preparations
- Evaluation resources
- Preparing your finished submission
- Confidentiality at the bidding stage
- Practical examples
Drafting Production Sharing Contracts – PSCs
- Different approaches and levels of complexity
- New PSC’s in key jurisdictions
- The role of calculation
- Understanding the formulas
- The non-fiscal legal and contractual terms
- Contractual terms and conditions
- Royalties and taxes
- Practical examples
Drafting agreements for farm-ins and farm-outs
- The role of the ‘MAC’ clause
- What is a ‘MAE’ clause?
- Assignment of interest
- Nature of the farm-out
- Subject matter of the farm-out
- Earning requirements
- Interest assigned and reserved
- Practical examples
Key equipment and materials contracts
- Capital equipment agreements
- Drafting equipment rental and lease agreements
- MRO
- Drilling equipment rental and lease agreement
- Ensuring a reliable supply of materials in remote places
- Practical examples
Multi-party contracting scenarios including teaming agreements
- Contractors and sub-contractors creating a seamless support team
- Teaming agreements – risks and rewards
- Crude and production distribution agreements
- Joint ventures in the oil industry
- Practical examples
Production and decommission phase agreements
- The main form of a crude oil sale agreement
- Abandonment, decommissioning and restoration
- The principle contracts for the end of the lifecycle of a petroleum field
- Principle methods of payment under the agreement
- Principle forms of crude oil sale agreements
- The role of letters of credit
- Practical examples