Joint Venture
and Other Collaboration Agreement
for the Oil & Gas Industry

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 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 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 GLOMACS 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 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 interactive training course will provide the participants an ideal opportunity to improve and sharpen their skill sets in planning, negotiating and managing Production Sharing Contracts (PSCs), Joint Operation Agreements (JOAs) through interactive session with role playing, case studies, discussion groups and scenario building and the high-point of the training course being a simulation exercise of Production Sharing Contracts (PSCs) and Joint Operation Agreements (JOAs) negotiation involving interactive role play by the participants. The objective of the interactive role play is to enable participants to apply the knowledge and understanding gained at the workshop to negotiate a more effective Production Sharing Contracts (PSCs) and Joint Operation Agreements (JOAs). This will help participants gain practical insights into managing the risks and enhancing their rewards.

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 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 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:

• • 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 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