Oil and Gas Contracts and Negotiations: Istanbul
The course is a comprehensive, interactive program providing the necessary understanding of key Oil & Gas Industry contracts, and the skill required for their negotiation. Participants will gain familiarity with the attributes of various contracts across the project life-cycle including joint venture, resource allocation, exploration, development and production sales In each case, the strategic objectives, rights and responsibilities of the contracting entities, as well interested third-parties, will be discussed. Key provisions are analysed in terms of whether they function commercially, as risk management, or contract administration. The perspectives of International Oil Company’s (IOC), National Oil Company’s (NOC), Host Governments and Contractors will be considered and particular attention will be given to the strategic objectives of counterparties, IOC / NOC relationships and the key drivers of the counterparties.
The program will enable participants to appreciate the different types of commercial structures throughout the hydrocarbon chain such as joint ventures, strategic alliances, drilling supply, equipment leases, well services supply, construction arrangements, product sales agreements, joint acreage bidding agreements, unitisation agreements, concessions, production-sharing arrangements, joint marketing arrangements, transportation agreements, processing arrangements, and third-party access arrangements. The alternatives and procedures for dispute resolution (ADR) will be covered for the various contractual arrangements including mediation, arbitration and litigation.
Participants will review model contracts used during the exploration phase including joint bidding agreements, joint venture operating agreements, petroleum exploration contracts (with host governments), drilling contracts and well services.. The program will also include strategic alliances between oil and gas companies and service providers used in the industry to share the benefits derived from development and operating efficiencies. Common features of alliance structures and their optimal uses, including both benefits and shortcomings will be considered.
From the development and production phase participants will review the production sharing contract, typical construction contracts including engineering, procurement, installation and commissioning (EPIC) and management (EPCM). In addition the commercial principles and key terms of unitisation agreements, joint marketing agreements, oil sales agreements, gas sales agreements, oil and gas processing agreements, gas transportation agreements, abandonment provisions and third party access agreements will be reviewed. Other important arrangements covered are floating production and offloading (FPSO) system lease agreements as well as marine Charter Parties. These arrangements are particularly important in the case of LNG projects.
The program will be delivered as combination of hands-on exercises and case studies that are based upon Oil & Gas Industry scenarios. Participants will be introduced to a range of negotiation strategies that may be used to secure suitable commercial outcomes and have the opportunity to negotiate the terms of a joint bidding agreement, the important terms of JOA, a resource unitisation agreement, a floating production and offloading system lease agreement and a gas sales agreement and a third party access agreement.
The course is designed for
In house Council
Country Managers or Directors
Business Development Managers
New Ventures Managers
Personnel involved in negotiating commercial arrangements across the oil and gas development cycle
Other personnel, including non-technical, that need to improve their understanding of oil and gas contracts and commercial agreements
Petroleum exploration and production contracts with Host Governments
Joint Venture Operating Agreements (JVOA) and Accounting Procedures
Drilling and well services contracts
Engineering, procurement, installation and commissioning (EPIC) and management (EPCM) contract
Joint marketing agreements
Oil & Gas sales agreements
Oil and gas processing agreements
Gas transportation agreements
Third-party pipeline access agreements
Floating production and offloading system (FPSO) lease agreements and Charter Parties
Strategic alliances between Oil and Gas operators and service providers
Dispute resolution procedures and options - legal litigation and arbitration
Commercial negotiation strategies
Strategic objectives of IOC’s, NOC’s and Contractors
Risk management provisions in Oil & Gas contracts such as Force Majeure, Indemnities, Limitation of Liability
Contractual regulatory trends in the Oil & Gas industry