Production Sharing Agreement (PSA) and Joint Operating Agreement (JOA)

SUITABLE:

Exploration and production professionals, legal personnel entering the E&P scene, service companies managers and government employees.

OBJECTIVES:

By the end of the course, delegates will:

• Understand the main concepts, principles and rules of a PSA, which contractually binds petroleum companies with a ministry and/or a state oil company;
• Understand how petroleum exploration and production partnerships are managed to successfully find and produce hydrocarbons.
• Be able to identify key issues and understand constraints and deadlines, get familiar with the document, etc.

SUMMARY:

• PSA: introduction, mechanism, examples
• JOA: introduction, the operator, the partners, the operating committee and subcommittee, work programme & budget, the sole risk/non consent clause, disposal of production, permit/concession/block, legal matters, accounting procedures, AIPN model contract