Introduction
A Production Sharing Contract (PSC) is used in key oil and gas producing countries, each of these have different approaches and levels of complexity. These complex agreements include a number of clauses that have particular legal interpretation and accompanying fiscal formulas. Therefore, it is crucial to have the correct understanding of the terms in order to calculate the formulas correctly and ensure a smooth agreement implementation.
During this online training, delegates will acquire a clear understanding of the fundamentals Production Sharing Contracts (PSCs), along with Joint Operating Agreements (JOAs) negotiation techniques and strategies that work in international and multicultural settings. Delegates will also master how to effectively negotiate in concert with counsel and how to get the terms negotiated incorporated into an enforceable agreement.
The five-day GLOMACS Working in Partnership Joint Venture and Production Sharing Contract online training course is specifically designed for professionals involved nationally and internationally in the oil and gas industry, it offers a unique opportunity to rapidly increase your understanding of the legal issues involved in Production Sharing Contracts (PSCs) and Joint Operating Agreements (JOAs) to in various international scenarios and to improve your techniques and skills in drafting a variety of related contracts.
This online training seminar will highlight:
- Evolution of the Production Sharing Contracts (PSCs), Service Agreements and concessionary systems
- Joint Operation Agreements (JOAs)
- Comparisons of model Production Sharing Contracts (PSCs) in various countries
- Negotiation techniques and the role of counsel
- Explanation and analysis of key provisions to make the Production Sharing Contract (PSC) work
Objectives
By end of this online training seminars, delegates will:
- Understand the evolution of the Production Sharing Contracts (PSCs), Joint Operation Agreements (JOAs), and Service Agreements
- Learn the negotiation techniques and the role of counsel
- Differentiate the comparisons of model Production Sharing Contracts (PSCs), in various countries
- Identify and analyse the key provisions to make the Production Sharing Contract (PSC), work
- Know the Production Sharing Contracts (PSCs), arrangements within the host government contracts’ framework
- Avoid commonly occurring causes of disputes and to gain knowledge on International Dispute Resolution Framework and Institutions: how to negotiate arbitration clauses
- Understand the common problems and pitfalls in negotiating Production Sharing Contracts (PSCs)
Training Methodology
This online training course will utilize a variety of proven online learning techniques to ensure maximum understanding, comprehension, retention of the information presented. The training course is conducted Online via an Advanced Virtual Learning Platform in the comfort of any location of your choice.
Organisational Impact
Production Sharing Contracts (PSCs) are used in key oil and gas producing countries, each of these have different approaches and levels of complexity. These complex agreements include a number of clauses that have particular legal interpretation and accompanying fiscal formulas. Therefore, it is crucial to have the correct understanding of the terms in order to calculate the formulas correctly and ensure a smooth agreement implementation.
Your organisation will benefit from this online training course by:
- Gaining expertise and improving knowledge and skill sets of personnel dealing with Production Sharing Contracts (PSCs) on its essential clauses
- Compare the existing Production Sharing Contracts (PSCs) arrangements from other key oil producing countries and how it compares with your own practice to work out best contract strategies
- Understand the risk factors in Production Sharing Contracts (PSCs) and how to mitigate them before they affect profits and bottom lines
- Enhancing ability to managing claims and disputes and avoiding adversarial approaches
Personal Impact
Attendees will gain by participation in this online training seminar as a result of:
- A unique opportunity to rapidly increase your understanding of the legal issues involved in production sharing contracts and joint operating agreements
- Understanding the key players in the International Oil and Gas Industry
- Analysis of the negotiation techniques and the role of counsel
- Explanation & Analysis of Key Provisions in International Oil & Gas Contracts, including:
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- Operating / Joint Venture
- Concession / Royalty
- Study and Bid Group
- Hydrocarbon Sales
- Insurance & Service Company Agreements
- Principal Standard Form Contracts Used in the Industry including the North Sea LOGIC / CRINE and the International Petroleum Negotiators (AIPN) standard form contracts
- International Dispute Resolution Framework and Institutions: challenges unique to the oil and gas industry
- Key Legal Contractual Risk Management Issues
- Introduction to key English Contract Law Principles
- Managing and mitigating risks associated with Production Sharing Contracts (PSCs) and Joint Operation Agreements (JOAs)
Who Should Attend?
This GLOMACS online training course is beneficial for operator and contractor professionals involved in Production Sharing Contract (PSC) and Joint Operation Agreement (JOA) negotiation and administration, including:
- Contracts Managers and Administrators in the Oil and Gas sector looking to improve their drafting and negotiation skills with particular emphasis on the risk assessment clauses
- Legal Practitioners looking to increase their Oil and Gas Contacts Law knowledge and how to avoid common contractual pitfalls
- Geologists and Engineers who seek practical understanding of the legal aspect surrounding contracts
- Academics / Students looking to increase or specialise in the area of Oil and Gas Law
- Insurance and Risk Managers looking to reduce the legal and contracts risks for their companies
- Government Departments, Policy Makers and Regulators
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