Oil & Gas Commercial Contracts and Negotiation Skills
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COURSE DATES AND LOCATIONS
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INTRODUCTION
Professionals of the oil and gas industries are more than ever required to know and understand the regulations and practices governing their industry. This requirement extends not just to lawyers, but also geologists seeking out new mining sites, engineers planning the drills, and those responsible for drawing up mining contracts, who all need to know the legal technicalities affecting their industry. However, knowledge of the black letter law is no longer enough; a practical understanding of operations is also a necessity.
So in this course we will interactive and participatory and includes various learning tools to enable the participants to operate effectively and efficiently in a multifunctional environment. we will recognize to The basics of oil & gas exploration, production, and oil and gas recovery economics to fully understand the business and the essential contracting terms, The various types of petroleum contracts and their key attributes, along with the contracting parties’ roles and responsibilities, The rights and obligations of all parties concerned such as national oil companies, international oil companies, and the host government, The wide-ranging financial tools used in the oil and gas industry contracts are evaluated along with the financial strategies that impact each party’s profitability ,How these profitability considerations provide incentives for investment and re-investment throughout various stages of oil & gas exploration and production, How understanding of negotiations skills, avoiding conflicts, and effectively preparing for negotiations, helps in concluding successful agreements, and the lectures and presentations, exercises, experiential, and exposure to real-world problems and policy choices confronting delegates.
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COURSE OBJECTIVES
At the end of this course you will be able to:
- Commonly occurring causes of disputes and to gain knowledge on International Dispute Resolution Framework and Institutions: how to negotiate arbitration clauses
- Enhance your understanding of the fundamentals of oil & gas law, and the commercial contracts
- Confidently discuss the technical terms, concepts and buzzwords with your peers and clients
- Gain broad perspective of what are the essential factors in oil and gas business
- Master the negotiations skills, lead and influence business agreements towards successful contracts
- Evaluate the technical, commercial, and financial aspects of oil & gas contracts and their impact on the profitability
- Detailed analysis of key oil and gas contracts
- Negotiation techniques and the role of counsel
- Problems and pitfalls in contract negotiations
- Analysis of international model oil and gas contracts
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COURSE AUDIENCE
This course is made for
- Business Development Managers seeking new opportunities in different countries
- Negotiators and Contracting Professionals
- Corporate Planning Professionals
- Geologists, Geophysicist, Petroleum Engineers seeking understanding of different fiscal regimes in commercial contracts
- Supply Planners and Scheduling Professionals
- Process design
- Unit Operator
- Environmental
- Process safety engineer
- Gasoline blender engineer
- Lab supervisor
- Supply chain engineer
- Distillates analyst
- Models engineer
- Chemical Operator
- Chemical Plant Operator
- Chemical Process Technician
- Control Room Supervisor
- Gas Plant Process Operator
- Gas Production Operator
- Gas Terminal Operations and Storage
- Gathering Pipeline engineer
- Oil Terminal / Storage engineer
- Pipeline Maintenance / Equipment / Compliance / Repair
- Pipeline Testing / Technician / Supervisor / Safety
- Plant Equipment Operator
- Plant Operations Technician
- Plant Shutdown
- Plant Supervisor
- Power Distribution
- Power Plant Manager
- Process Supervisor
- Refinery Operations Technician / Manager
- Terminal Operator / Manager
- Utilities Operator
- Government Regulators
- Auditing Personnel
- Compliance Officers
- Equity Analyst and Bankers
- Joint Venture Officers
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COURSE OUTLINE
Day One
Introduction to Legal, Fiscal, and Contractual Basics
- Crude Oil & Gas
- The Oil Industry Streams
- Demand Drivers for Crude Oil
- Drilling Contracts – Contract Alternatives
- Legal Fiscal and Contractual Framework Ownership
- Oil and Gas Rights and Ownership – The Ad Coelom Doctrine
- The Rule of Capture
- A rule of “No liability”
- Limitations to Rule of Capture
- Theories of Ownership – Escaped Hydrocarbons
- Drainage by Enhanced-recovery Operations
- The doctrine of Correlative Rights
- Conservation Laws – Drilling Wells
- Conservation Laws – Fair Share Doctrine
- The function of Oil and Gas Conservation Laws
- Well-Spacing Rules
- The Legal System including Sources of Law
- Mandatory Elements of a Legally Enforceable Contract
- English Contract Law: Contract Formation and Contract Terms and Conditions
- Legal Jargons and Definition of Terms
- English Contract Law: Interpretation of Contract Terms
- Rescission
- Damages: Compensatory, Consequential and Incidental Damages, Liquidated
- Specific Performance
- Injunctive Relief
- International Oil & Gas Industry and Its Key Players
- Terminologies & Introduction to the Oil Industry
Day Two
Fundamentals of Oil and Gas Contracts
- Nature of Ownership in Oil and Gas – The Law of the Sea and Sovereignty over Natural Resources
- Developments of Contractual and Fiscal Arrangements in the Oil and Gas Sector
- Structure Used in Regulating the Oil and Gas Industry
- Infrastructure Development
- Boundary Disputes
- Host Country Legislation
- Characteristics of Oil and Gas Contracts
- Commercial Realities of the Oil and Gas Business
- Drafts and Drafting
- Fundamental Legal Principles
- Cultural and Language Issues
- Fundamental Legal Principles
- The Essentials of Negotiation
- Types of Negotiation
- Issues to be Negotiated
- The Negotiation Process
- Style, Strategy, and Tactics
- Persuasion- The Role of Argument
Day Three
Agreement with Resource Holders I
- Leases
- Service Agreements
- Concessions / Licensing
- Agreements Between Co-Ventures (JOA)
- Joint Bidding Agreement (JBA)
- Area of Mutual Interest Agreement (AMI)
- Joint Operating Agreement (JOA)
- Unit Operating Agreements (UOA)
Day Four
Agreement with Resource Holders II & Agreements with Suppliers and Contractors
- Production Sharing Agreements (PSA)
- Key Characteristics of Production Sharing Agreements
- Determining the Structure Style of a PSCs
- Comparisons of Model PSCs
- Agreements with Suppliers and Contractors
- Standardisation of Contracts
- International Service Contracts
- LOGIC Standard Contracts (Model Contracts)
- Review of the Key LOGIC Contractual Provisions
- Reducing Risk through Effective Use of Force Majeure Clauses
- Understand the Purpose and Risks this Clause is Intended to Mitigate
- Avoiding Common Force Majeure Pitfalls
- Protect Yourself from Abuse and Misuse of this Clause
- Mechanics and Drafting Tips of Exercising Force Majeure Rights
Day Five
Dispute Resolution & International Arbitration Option in Oil and Gas Contracts
- Dispute Resolution in Oil and Gas Business
- Preventing Costly Litigation through Effective Use of ADR Option
- Types of Dispute Resolution Vehicles
- Assessing Litigation vs. Arbitration Options
- Mediation Considerations
- Considerations for Selecting Effective Mediators and Arbitrators
- Selecting Arbitration and Mediation Rules of Procedure
- Drafting Effective Dispute Resolution Clause
