Modern Petroleum Contracts and Practice in Negotiations

SUITABLE: Petroleum managers and administrators in the International Oil Companies, the IOCs, engineers; technical, legal, financial and other specialists in the oil and gas, also technical professionals. OBJECTIVES: By the end of the course, delegates will:

• Develop an in-depth knowledge of the legal and contractual framework in which the upstream oil industry conducts its operations;
• Understand the major technical, legal/contractual and financial/economic/taxation /fiscal issues that inform modern E&P agreements world-wide;
• Understand the principles and strategy of petroleum negotiations, etc.

SUMMARY:

• Sovereignty, the state and the ownership of the petroleum resource
• The petroleum legislation and key issues within it
• Ten key steps in petroleum licensing and an example of modern petroleum legislation.
• Petroleum leases, concessions, agreements and contracts.
• Technical issues in petroleum agreements
• Legal and contractual issues in petroleum agreements: the rights, duties, obligations and liabilities of the parties
• Financial issues in negotiations: royalty, tax, additional profits taxes, OPEX, CAPEX, cost oil, profit oil, the equity agreement versus the contractor