Upstream Petroleum Contracts

Transcription

1 An Intensive 5 Day Training Course Upstream Petroleum Contracts Comprehensive Hands-On Guide for Oil & Gas Professionals Sep 2018, London Nov 2018, Dubai 17-MAY-18 This course is Designed, Developed, and will be Delivered under ISO Quality Standards

2 Upstream Petroleum Contracts Comprehensive Hands-On Guide for Oil & Gas Professionals WHY CHOOSE THIS TRAINING COURSE? Petroleum doesn t last forever. It is a non- renewable resource. This fundamentally drives the business decisions of Governments and companies, a key part of which is that most petroleum contracts are structured to contemplate the entire life span of a project, it s beginning, middle, and end. Upstream Petroleum contracts can vary widely in their details; however, all must establish two key issues on how profits are divided between the government and participating companies. This Petroknowledge training course provides in-depth information on the types of upstream petroleum contracts and what their differences are and what are the main contractual terms participants need to know in order to fully understand all types of Upstream Petroleum Contracts. This training course will comprehensively cover Production Sharing Contracts, Exploration & Production Agreement (E&P) Exploration & Exploitation Contract, License Agreement, and participants will take away essentials elements of these contracts to be effectively used in their own companies This Petroknowledge training course is designed to be highly practical and includes hands-on inter-active sessions that will help participants understand the practical issues involved and the pitfalls to avoid. A well negotiated and drafted Upstream Petroleum Contract must stand the test of time and provide parties with stability as well as adaptability when circumstances change over the course of the years. This training course will highlight: The fundamental types of Upstream Petroleum Contracts The advantages and disadvantages of the different types of Upstream Petroleum Contracts and how it is suitable for specific types of projects. Concessions, Production sharing & Risk Service Contract, important details and suitability for any oil and gas upstream project. The role of JOA in upstream petroleum contracting Conciliation, Mediation and Settlement of Disputes Understanding the essentials terms of Unitization and Farm-in, Farm-Out agreements WHAT ARE THE GOALS? Participants will have a working knowledge of Upstream Petroleum Contracts and how to apply this knowledge to administering Production Sharing Contracts. At the end of this training course, you will learn to: Gain a full understanding of the different types of the Upstream Petroleum Contracts Understand the main contractual terms and their differences between the various types of contracts from PSA, Service contracts and others Be aware of the approaches to negotiation of these contracts Incorporate the best terms into these Upstream Petroleum Contracts WHO IS THIS TRAINING COURSE FOR? This PetroKnowledge training course will benefit all levels of personnel involved in resolution of oil and gas disputes. It will enable a broad range of disciplines to appreciate and understand the complexities of conflict resolution in the Oil and Gas industry, and how best to manage disputes in the oil and gas industry. This training course is appropriate to a wide range of professionals but will greatly benefit: Senior contract negotiators and managers Legal managers, legal counsel Commercial and business managers Contracts administrators, and managers Commercial, financial and insurance professionals Project and General Management personnel HOW WILL THIS TRAINING COURSE BE PRESENTED? Participants will gain greater understanding of the subject matter through presentations by an experienced international practitioner designed to both inform and broaden the perspectives of the participants. Case studies will be reviewed and discussed bearing in mind some of the realistic scenarios participants may encounter. Interactive discussions to encourage discussion of problems and possible solutions to it. Negotiation simulation exercise will help participants get a realistic feel for negotiating a PSA contract.

3 DAILY AGENDA Day One: Introduction and Overview of Upstream Petroleum Contracts ORGANISATIONAL IMPACT Negotiating Upstream Petroleum Contracts with ease will ensure your organization will benefit by: Enhancing your company s ability to negotiate upstream contracts beneficial to the corporation in the short and long term bearing in mind future changes in the industry Improving expertise and skill sets of personnel dealing with accounting and audit policies and procedures Understanding the risk factors in these types of contracts and learning how to mitigate them Enhancing internal capacity to auditing critical areas Better managing claims and disputes by avoiding confrontational approaches Enhancing contract personnel s negotiation skills and confidence PERSONAL IMPACT Attendees will gain by participation in this training course as a result of: In-depth knowledge gained about Upstream contracts and various interpretations to essential clauses of the contract Managing and mitigating risks associated with Upstream contracts Ensuring smooth contract administration of Upstream contracts Enhancing your ability to negotiate and manage disputes Brief overview of the O&G industry Oil and gas terminology The legal framework to Upstream Contracts Introduction to contract formation Key oil and gas terminology Oil and gas industry structure Relationship between different players in the oil and gas industry Phases of the oil and gas industry Oil and gas contract fundamentals and legal principles Territorial water, continental shelf and United Nations Convention on the Law of the Sea (UNCLOS) Day Two: Contracting in the Upstream Sector: Ownership and Licensing Ownership and exploitation of reserves The ABCs of Petroleum Contracts: License- Concession Agreements, Joint Ventures, and Production-sharing Agreements Characteristics of upstream contracts Commercial realities of the oil and gas business Agreement with resource holders Ownership of oil and gas Risk Service Contracts (RSCs) Grant of rights by resource holder Host country s legal and regulatory framework and fiscal regime; stabilization Role of host government Key Issues in international oil and gas contracts Negotiation framework and strategy; objectives of host countries/nocs and IOCs Host Government s Role in Upstream (Exploration & Production (E&P)) Agreements Overview of upstream operations and E&P agreements (types and trends by region) Key differences between Production Sharing Contracts (PSCs), concessions, service contracts and JV contracts Role of Host Government in Upstream Contracts Upstream Petroleum Contracts

4 Membership No.: Day Three: Production sharing contracts (PSC) & Joint Operating Agreements (JOA) Different approaches and levels of complexity New PSC s in key jurisdictions The role of calculation Understanding the formulas The non-fiscal legal and contractual terms Contractual terms and conditions Royalties and taxes Commercial terms in licensing and concession agreements Fiscal arrangements, license fees Four key financial aspects to a PSC: (a) Royalty, The R factor (b) Cost oil (c) Profit oil (d) Taxation (e) Bonuses, Penalties PSC Cash Flow Distribution PSC CF Distribution Example Year N+1 Comparison of Fiscal Systems Joint Operating Agreements (JOAs) What is a Joint Operating Agreement (JOA)? Nature, aim and functions of a joint venture Government approval Key areas of the JOA Purpose and scope: participating interests Day Four: Service Contracts, Farm-In and Farm-Out and Unitization - Risk bearing and Non- Risk Bearing Service contracts Service Contracts Risk Service Contracts Different model forms sources Risk allocation and insurance Master service contracts Unitization and Unit Operating Agreements (UUOAs) What is unitization? Unitization in practice Government approval Transboundary unitization Day Five: Negotiating Production Sharing Contracts Government take Production share and cost recovery Local content Force majeure Dispute resolution Stabilization and renegotiation provisions Negotiation Simulation Exercise Negotiation a PSA with a government entity Objective: The objective is to establish what can be achieved in the meeting, what preparation is needed for it and what strategy should be adopted and then to pursue this strategy. Feedback session Negotiation of oil and gas disputes Importance of negotiation in oil and gas business Disadvantages of competitive or positional negotiation Principled negotiation between the parties to achieve best results QUALITY CERTIFICATION Participation Agreements (Farm-in and Farm-out) Agreements for farm-ins and farm-outs Nature of the farm-out Subject matter of the farm-out Interest assigned and reserved Assignment of interest Member of Clear Concepts. Clean Environment. The PMI Registered Education Provider logo is a registered mark of the Project Management Institute, Inc. Upstream Petroleum Contracts

5 Upstream Petroleum Contracts Comprehensive Hands-On Guide for Oil & Gas Professionals 4 DATE VENUE FEE($) Sep 2018 London - UK 5, Nov 2018 Dubai - UAE 5,500 This fee is inclusive of Documentation, Lunch and Refreshments Please use BLOCK CAPITALS to fill in this form. It is important that you read carefully through all information before starting to complete the form. REGISTRATION DETAILS Family Name: First Name (Mr./Ms.): Position: Company: Mailing Address: Telephone: Mobile: Fax: AUTHORISATION Authorisation By: Position: Company: Mailing Address: Telephone: Mobile: Fax: IN-HOUSE TRAINING Maximize your training budget and have several members of your staff, who require specific training, to attend with the advantage of not incurring additional travel costs when attending a public training courses & seminars. Would you like a PetroKnowledge training course delivered at a time or location to suit you? Would you like PetroKnowledge to tailor a course from our comprehensive library of programmes? Or would you like us to create an entirely new, bespoke course to suit the exact needs of your organisation? Working in partnership with our clients, PetroKnowledge provides an enjoyable, creative learning experience that enables participants to develop their skills and knowledge. We can deliver not only generic, off-the-shelf courses from our extensive learning portfolio, but we can provide tailored as well as bespoke learning on any aspect of skill development or knowledge. Our in-house courses are conducted by the same expert trainers who conduct PetroKnowledge public courses so you can be assured they will fulfill the learning objective of any organisation

6 BOOKING TERMS & CONDITIONS Booking Bookings for courses can be made via our website (petroknowledge. com) or by contacting our Registration Desk on or at reg@petroknowledge.com For on-line bookings, please select the course that you require and click on the Register Now button, following the instructions step by step Upon receipt of booking in order, enrollment on the respective training course will be confirmed by Registration Team with all necessary documentation Invoicing and Payment Our fees include course presentation, relevant materials, physical & digital documentation, lunch and refreshments served during entire training. Accommodation charges are not included in the course fees Course fees are payable upon booking unless a valid, authorized Purchase Order is provided and accepted Invoices will be sent via /courier to the ID/name and address provided We prefer to have the fees payment in our account before the start of training course. However, if your company has a different payment policy, the same should inform us in advance The currency of fees is in US Dollars (USD). Payments can be made in USD or UAE local currency AED (Arab Emirates Dirhams) either by Bank Transfer or by Credit Card. Our Bank Account details will be provided on the Invoice Please note that we do accept payment by cash, in USD or AED, only for the last minute bookings Cancellation of Courses It may be necessary for PetroKnowledge to amend or cancel any course, course times, instructors, dates or published fees due to unforeseen circumstances and we reserve the right for such changes Any amendments will be advised before the course start date and any bookings already paid in full will not be subject to increased fees Cancellation by Client Once you have completed your booking, received your confirmation of enrollment and a dated payment Invoice, you are deemed to have a contract with PetroKnowledge. You reserve the right to cancel this contract given the below terms All cancellations must be received in writing at reg@petroknowledge. com and info@petroknowledge.com at least 14 days prior to the training After the cancellation period has expired, consideration may be given, on a case to case basis, if a registered delegate nominates a substitute on the same course, shifts to next session of the course or moves to a new course For a cancellation request made on or before the statutory 14 day cancellation period, a refund may be given or a credit note issued which can be used against future course fees A 25% administration fee (of the total course fee at the time of booking) will be charged for any cancellations made outside of the statutory cancellation period Attendance Certificate OFFICES: Middle East: P.O. Box: , Abu Dhabi, U.A.E. Tel: Europe: AB25 1HF, 1Berry Street Aberdeen, Scotland, UK Tel: USA: Pennzoil Place 700 Milam, Suite North Tower Houston, Texas 77002, USA Tel: E: info@petroknowledge.com The daily course schedule should be accurately followed to ensure undeterred implementation of our training All delegates, who participated in their course throughout, will receive the Certificate of Completion on the last day Please report any foreseeable absences to a PetroKnowledge representative or to your sponsors directly An absence of three (3) or more sessions of the course will invalidate your eligibility for the Certificate of Completion Follow us on: