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Schedules Introduction Objectives Training Methodology Organisational Impact Personal Impact Who Should Attend? Outline
Course Schedule
Date Venue Fees
19 - 23 Jun 2023 Dubai - UAE $5,950
04 - 08 Dec 2023 Dubai - UAE $5,950
Course Description

Introduction

This GLOMACS Oil & Gas Law training course will help clients develop a strong understanding of some key commercial transactions and contracts in the oil and gas sector. Those taking the training course will be equipped with knowledge of different types of contracts and commercial arrangements entered into by commercial parties in the course of the exploration and production (upstream) and the sale (downstream) of oil and gas.

This Oil & Gas Law training course will highlight:

  • The commercial rationale, underlying some key commercial transactions, and the structure and content of contracts used in the oil and gas industry in the context of upstream and some downstream operations
  • The nature and variety of commercial and legal issues and problems, arising in the context of commercial transactions, and some typical contractual solutions to these problems
  • Commercial joint venture arrangements, such as joint operating and unitisation agreements
  • Service contracts, such as drilling contracts, and the risk allocation clauses in such contracts
  • Contracts for the acquisition and disposal of assets, such as farm-out agreements
  • Sales agreements, such as oil sales contracts and long-term gas sales agreements

Objectives

This training course will provide a comprehensive understanding of the nature, purpose, and structure of some of the key commercial contracts used in the upstream and downstream sectors and some prominent legal issues arising under these contracts.

By the end of this Oil & Gas Law training course, participants will:

  • Develop an understanding of some key commercial contracts in the upstream and some downstream sectors.
  • Learn about the commercial rationale, purpose, structure of these contracts.
  • Gain detailed knowledge about a wide range of legal issues and problems, arising under these contracts, and how these issues are resolved by some major legal systems, such as English law.
  • Develop an ability to evaluate the relative strengths and weaknesses of different contractual solutions adopted in respect of various issues and problems.
  • Gain an understanding of the relevant legal framework of some major legal regimes, such as that of English law and the UN Sales Convention. 

Training Methodology

This GLOMACS training course will utilize a variety of proven online learning techniques to ensure maximum understanding, comprehension, and retention of the information presented. This includes exercises designed to improve and sharpen the skill sets of delegates through interactive session with role playing, case studies, discussion groups and scenario building.

Organisational Impact

Organisations will gain a number of benefits, including:

  • Expert knowledge of some key commercial contracts used in the oil and gas upstream and downstream sectors
  • In-house expertise in commercial and legal issues arising in the exploration, development, production and sale of oil and gas
  • Employees with an ability to analyse and navigate through a wide range of commercial contracts and their key provisions
  • Employees with an enhanced understanding of the structures of and solutions adopted in commercial contracts in the natural resources sector and how these contracts are governed by some major legal regimes, such as that of English law and, where relevant, the UN Sales Convention

Personal Impact

This GLOMACS Oil & Gas Law training course will provide participants with a number of benefits, including:

  • Comprehensive and systematic knowledge of commercial contracts in the oil and gas sector, much of which is transferrable to other natural resource industries and other sectors
  • A detailed understanding of commercial and legal issues and problems arising in the context of commercial arrangements, such as joint operating, unitisation, service, farm-out and sales agreements
  • Knowledge of the approaches that some major legal regimes, such as English law, take to governing these contracts and their key clauses
  • An ability to analyse the relative strengths and weaknesses of different contractual solutions
  • Enhanced contract drafting skills

Who Should Attend?

This GLOMACS Oil & Gas Law training course is suitable for a wide range of professionals but will greatly benefit: 

  • Industry and legal practitioners or civil servants working with the energy/natural resources industry
  • Commercial, governmental, or legal professionals with an interest in the regulation of the energy/natural resources industry
Course Outline

DAY 1 

Introduction to Oil and Gas Commercial Contracts

  • General principles of oil and gas contract law
  • Key players in the international oil and gas industry
  • The main licensing and contractual arrangements in upstream
  • Principal standard form contracts used in the industry
  • The key legal contractual risk management issues
  • Contracts for downstream activities

DAY 2

Joint Operating and Unitisation Agreements  

  • The rationale, purpose, and basic principles of a Joint Operating Agreement (JOA)
  • The appointment, duties, and removal of the operator
  • The operating committee
  • Sole risk and non-consent options
  • Cash calls, default, and its consequences; under-/over-lifting
  • The rationale, purpose, and basic principles of a Unitisation Agreement (UA)
  • The re-determination procedure in a UA and its consequences

DAY 3

Service Contracts and Agreements on Acquisition and Disposal of Assets 

  • Service contracts generally
  • Drilling contracts: Basic structure and key issues
  • Risk allocation provisions in service contracts: Indemnity and limitation of liability clauses
  • Agreements on acquisition and disposal of assets: General introduction
  • Farm-out agreements: Basic principles
  • Farm-out agreements

DAY 4

Oil Sales Contracts and Gas Sales Agreements 

  • Sale and purchase and transportation agreements
  • Oil sales contracts: General introduction and the overview of the role of English law and the UN Sales Convention
  • Oil sales contracts: Basic rights and obligations of the parties under English law and the UN sales convention
  • Oil sales contracts: Specific obligations of the seller under CIF and FOB contracts
  • Gas sales agreements: General introduction
  • Detail terms in gas sales agreements

DAY 5

Understanding Key Clauses in Oil and Gas Contracts 

  • Managing risk with indemnity, limitation, and exclusion of liability clauses
  • Forms of exclusion clauses (and why it matters) common carve-outs
  • The ‘knock for knock’ regime, benefits, and disadvantages
  • Guarantee, performance & penalties
  • Termination rights
  • Force majeure
  • Political and other risks
  • Change in law
  • Dispute resolution and claims management
Certificates
  • On 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 Sponsor, one CPE credit is granted per 50 minutes of attendance
Providers and Associations

Endorsed Education Provider

  • Quality Logo

GLOMACS is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org

In Association With

Oxford Management Centre

Oxford Management Centre

A GLOMACS - Oxford Management Centre collaboration aimed at providing the best training services and benefits to our valued clients.

Visit website

PetroKnowledge

PetroKnowledge

Our collaboration with Petroknowledge aims to provide the best training services and benefits for our valued clients

Visit website

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