Introduction
This highly interactive Oil, Gas & LNG Contracts training course will provide its participants with valuable insight into the operations of the Oil and Gas Industry in a modern context. Oil, Gas, and LNG contracts are the life blood of the industry and form the basis and foundation upon which the industry operates. This Oil, Gas, and LNG Contracts training course will give participants a framework within which to understand the rights and obligations of both the host country and operators and how they are determined and set out in the oil and gas contracts. The legal principles involved in licencing, production sharing contracts, and service contracts will be highlighted and discussed in order to provide a solid understanding of the legal basis for these contracts. Further, the course will also cover sale and purchase and transportation contracts in use in the industry. Risk management in the oil and gas industry is essential and needs to be encapsulated in the contract clauses and this course will provide the fundamental knowledge of the essential risk management features that are in these contracts. Participants will get to understand investor protection in the oil and gas industry and how this can be achieved.
This comprehensive Oil, Gas, and LNG contracts training course will provide many opportunities for delegates to discuss interactive discussion and review case studies and discuss the various legal and regulatory aspects of these contracts. Participants will gain a true understanding of the legal underpinnings of the oil and gas contracts used around the world in the oil and gas sector.
This GLOMACS Oil, Gas & LNG Contracts training course will highlight:
- Modern aspects of oil and gas contracts
- How to manage production and country risks
- Key legal and commercial risk management measure
- Investor protection by providing legal frameworks
- Negotiation tools and tactics
- Dispute resolution in cross border and international contracts
Objectives
By the end of this Oil, Gas & LNG Contracts training course, participants will:
- Master and comprehensively understand the legal principles of oil, gas, & LNG contracts
- Understanding in depth licensing, production sharing and service contracts
- Identifying the risk factors and managing those risks through effective contractual clauses
- Know the relevant legal and regulatory frameworks that are in the oil and gas industry
- Learn how to use appropriate contractual clauses in oil, gas, and LNG contracts
- Appreciate the best dispute resolution methods and how it will apply it in different scenarios
Training Methodology
In this Oil, Gas, and LNG contracts training course, 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 have encountered. Interactive discussions on problems and possible solutions will be encouraged.
Organisational Impact
The organisation will benefit by:
- Personnel in the organisation will be conversant with oil and gas contracts, licensing and productions rights
- Having a full understanding of the fundamental legal principles involved in licensing, production sharing contracts and service contracts
- Knowledge of the legal basis for these contracts
- Being able to anticipate and deal with issues and ramifications pertinent to energy contracts
- Strategizing on risk management techniques that can be used in the Oil and Gas contracts
- Senior management know the options available to enable them to negotiate terms and conditions of oil and gas contracts for upstream and downstream
Personal Impact
This Oil, Gas, & LNG Contracts training course teaches the competencies that enable the attendees to:
- Obtain the essential skill sets to negotiate oil and gas contracts clauses
- Manage and production and commercial risks through well drafted contract clauses
- Gain the ability to formulate a comprehensive thought out approach to contracting
- Demonstrate a professional understanding of apportioning risk and liability between the parties to the oil and gas contracts
- Work out a contracting strategy to meet company’s goals
- Customise bespoke contracts suited to needs of their company
Who should Attend?
This GLOMACS Oil, Gas & LNG Contracts training course will benefit all levels of personnel involved in any aspect of project procurement and implementation in the oil and gas sector. It will enable a broad range of disciplines to appreciate and understand the complexities of this industry, and how best to manage risk.
This training course is appropriate to a wide range of professionals but will greatly benefit:
- Legal Managers, Legal Counsel
- Commercial and Business Managers
- Contracts Administrators, and Managers
- Commercial, Financial and Insurance Professionals
- Project and General Management
Introduction to Oil, Gas & LNG Contracts, Licencing and Production Rights
- Principal Licensing and Contractual Arrangements
- Upstream and Downstream Contracting
- key terms and definition
- The main international industry players
- Legal System and Contract Law
- Mandatory elements of a legally enforceable contract
- Contract Law: Contract formation
- Contract Law: Contract terms
- Contract Law: Interpretation of contract terms
- Contract Law: Remedies for breach of contract
- Assessing available remedies for breach of
contract
Emergence of New Contractual Arrangements
- Characteristics of Oil, Gas, & LNG sales contracts
- The contractual process
- Commercial realities
- Drafts and drafting
- Enforcement
- Fundamental legal principles
- Cultural and language issues
- Fundamental Legal Principles
- The Modern Concession Contracts
Negotiating International Petroleum Agreements
- The Production Sharing Contracts
- Participation Agreements and Joint Operation Agreements (JOA)
- Service Contracts, Pure Service Contracts, Risk Service Contracts
- Environmental Impacts in the Context of Protection Policies and Requirements
- Regulatory Framework, Institutional Factors and Infrastructure
- Comparative Analysis of the Different Contract Forms
- Stabilisation Clauses Defined
- Stabilisation Clauses and the National and International Law
- The Re-negotiability of International Petroleum Agreements: Stability vs. Flexibility
- The Triggering Events for Renegotiation
Key Contractual Issues & Risk Allocation in Oil and Gas Contracts
- Liabilities & Exclusion and Limitation
- Indemnity and Exclusion Clauses: Why the need?
- Distinctions and Definitions: Indemnity vs. Exclusion vs. Limitation
- Mutual Hold Harmless – The ‘knock for knock’ regime
- Forms of Exclusion Clauses (and why it matters) Common Carve-outs
- Performance & Penalties
- Termination Clauses and Right to Terminate
- Force Majuere, Change in Law and other Disputes
Methods of Dispute Resolution under Cross Border / International Agreements
- Arbitration & Mediation – Important Differences
- Mediation and Conciliation, Adjudication, Dispute Boards - save time and costs
- Enforcement of International Arbitration Awards under the New York Convention
- Contemporary Developments in Case Law and Legislation
- Upon successful completion of this training course, GLOMACS Certificate will be awarded to the delegates. Continuing Professional Education credits (CPE): In accordance with the standards of the National Registry of CPE Sponsors, one CPE credit is granted per 50 minutes of attendance
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