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EPC, EPCM, & EPIC Contracts in the International Petroleum Industry: Istanbul

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EPC, EPCM, & EPIC Contracts in the International Petroleum Industry: Istanbul


Course overview

As a general rule, the more complex or specialized the work or project, the more likely it is that design, engineering, construction and procurement will be carried out by independent contractors. Even the largest multi-national and State petroleum companies rely upon EPC Contractors with the technical skills and management experience to design build and commission complex developments and projects. Today, there is a trend towards tendering large, full-cycle EPCIC projects, particularly for offshore production.

This 4-day training programme on the variations of Engineering Procurement Construction Management and Installation (EPC, EPCM and EPCIC) Contracts that are used in the international petroleum industry.

Learning objectives

After attending this programme, participants will be able to:


Understand the options for the types of agreements used for implementing large-scale petroleum projects.

Discuss and apply decision-making criteria in tendering for EPC, EPCM and EPIC contracts.

Understand the various considerations in adopting risk management strategies and the allocation and limitation of liability between Owners and Contractors.

Effectively participate in the resolution of disputes that arise during petroleum operations.


The course is designed for


Contract / Project Engineers

Commercial Contract Managers

Commercial Operation Teams

Procurement supply chain professionals

Risk Managers

Lawyers and Paralegals


Course outline

DAY ONE

Use of EPC Contracts in the Petroleum Industry


Contracting Options & Formats: EPC, EPCM, EPIC & EPCC

Project Stages

Contract Management: Scope, Schedule & Budget

Completion & Handing Over

On-going Operations & Maintenance


Relationship between Contractors, Operators, JV Participants & NOCs


Operator’s Work Program and Development Plan

Project Scope, Schedule & Budget

Joint Venture Participants

National Oil Company


Contractor Selection


Frontend Engineering & Design

Prequalification for Tender: Legal, Technical & Commercial

Tender Package

Evaluation

Exceptions

Local Content Requirements

Awards

Letter of Intent & Letter of Agreement

Contract Execution

Regulatory Oversight


Contract Milestones Issues Performance & Payment


Notice to Proceed

Mobilisation

Progress Reports

Completion & Acceptance

Invoices

Authorization for Variations & Extras

Termination or Extension


Case Study: Critical Path Schedule & Project Tracking for EPIC

DAY TWO

Payment Arrangements


Lump Sum Turn Key

Unit Rates

Progress Payments

Milestones

Bonuses

Credit Memos

Retention

Multi-currency Payments


Contract Variations


Client Request

Contractor Recommendation

Upselling


Risk & Liability


Liquidated Damages

Defects

Downhole & Subsurface Conditions

Environmental

Warranties & Indemnities

Limitation on Contractor Liability


Force Majeure


Events: Definition & Exclusions

Obligations & Notification

Suspension & Contract Extension

Termination


Case Study: Contract Variation Based on Substitution of Consumables

DAY THREE

Performance Bonds & Guarantees


On-Demand Bonds

Parent Company Guarantee

Letters of Indemnity


Insurance


Primary Cover – Contractor’s All-Risk

Special Endorsements

Political Risk


Customs & Immigration


Dutiable materials

Entry of Non-resident employees

Case Study: Adjustment of Delivery Point to Reduce Tax


DAY FOUR

Tax Considerations


Project Package – Service & Supply

Delivery & Title

Tax Domicile of Contractor

Tax Indemnity from Operator


Completion


Testing & Certification

Acceptance

Passing Tile & Risk

Warranties and Guarantees

Intellectual Property

Defects

Exculpatory Clauses


Audit


Reimbursable Payments

Subcontractors

Auditor & Audit Procedure

Exceptions & Claims


Dispute Resolution


Classification of Claims

Procedures

Communications Between Parties

Impact on Relationships


Case Study: Alternative Dispute Resolution

Review Model EPIC Agreements: Norwegian Fabrication Contract 2007 & LOGIC Construction & Well Services


Performance of Work

Variations

Cancellation & Suspension

Delivery & Payment

Force Majeure

Limitation & Exclusion of Liability

Proprietary Rights



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