Modern Practices in Oil and Gas Contracts, Licensing, Production Rights, Legislation and Agreements
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Modern Practices in Oil and Gas Contracts, Licensing, Production Rights, Legislation and Agreements Course
Introduction:
This highly interactive Oil & Gas Contracts training course will provide its participants with valuable insight into the operations of the Oil and Gas Industry in a modern context. Oil and Gas contracts are the lifeblood of the industry and form the basis and foundation upon which the industry operates. This Oil & Gas Contracts training course will give participants a framework within which to understand the rights and obligations of both host country and operators and how they are determined and set out in the oil and gas contracts. The legal principles involved in licensing, production-sharing contracts, and service contracts will be highlighted and discussed to provide a solid understanding of the legal basis for these contracts. Further, the course will also cover sale and purchase and transportation contracts in use in the industry. Risk management in the oil and gas industry is essential and needs to be encapsulated in the contract clauses and this course will provide the fundamental knowledge of the essential risk management features that are in these contracts. Participants will get to understand investor protection in the oil and gas industry and how this can be achieved.
Course Objectives:
By the end of the course, participants will be able to:
- Master and comprehensively understand the legal principles of oil and gas contracts
- Understanding in-depth licensing, production sharing, and service contracts
- Identifying the risk factors and managing those risks through effective contractual clauses
- Know the relevant legal and regulatory frameworks that are in the oil and gas industry
- Learn how to use appropriate contractual clauses in oil and gas contracts
- Appreciate the best dispute resolution methods and how they will be applied in different scenarios
Who Should Attend?
This course will benefit all levels of personnel involved in any aspect of project procurement and implementation in the oil and gas sector. It will enable a broad range of disciplines to appreciate and understand the complexities of this industry, and how best to manage risk.
This training course is appropriate for a wide range of professionals but will greatly benefit:
- Legal Managers, Legal Counsel
- Commercial and Business Managers
- Contracts Administrators, and Managers
- Commercial, Financial, and Insurance Professionals
- Project and General Management
Course Outlines:
Introduction to Oil and Gas Contracts, Licensing, and Production Rights
- Principal Licensing and Contractual Arrangements
- Upstream and Downstream Contracting
- Financing in the International Oil & Gas Industry
- Specific Risks in Upstream & Downstream Contracts
- Sale and Purchase and Transportation Agreements
- Contractual Claims and Resultant Disputes
- The Role of Negotiation Strategies in Dispute Avoidance under Oil & Gas Contracts
Emergence of New Contractual Arrangements
- The Modern Concession Contracts
- The Production Sharing Contracts
- Participation Agreements and Joint Operation Agreements (JOA)
- Service Contracts, Pure Service Contracts, Risk Service Contracts
- Environmental Impacts in the Context of Protection Policies and Requirements
- Regulatory Framework, Institutional Factors, and Infrastructure
- Comparative Analysis of the Different Contract Forms
Stabilization Clauses and International Petroleum Agreements
- Stabilization Clauses Defined
- Typology of Stabilization Clauses
- Validity and Efficacy of the Stabilization Clause
- Stabilization Clauses and the National and International Law
- The Re-negotiability of International Petroleum Agreements: Stability vs. Flexibility
- The Triggering Events for Renegotiation
Key Contractual Issues & Risk Allocation in Oil and Gas Contracts
- Liabilities & Exclusion and Limitations
- Indemnity and Exclusion Clauses: Why the need?
- Distinctions and Definitions: Indemnity vs. Exclusion vs. Limitation
- Mutual Hold Harmless – The ‘knock for knock’ regime
- Forms of Exclusion Clauses (and why it matters) Common Carve-outs
- Performance & Penalties
- Termination Clauses and Right to Terminate
- Force Majeure, Change in Law, and Other Disputes
Methods of Dispute Resolution under Cross Border / International Agreements
- Arbitration & Mediation – Important Differences
- Mediation and Conciliation, Adjudication, Dispute Boards - save time and costs
- Enforcement of International Arbitration Awards under the New York Convention
- Contemporary Developments in Case Law and Legislation
