Day 1 - (Module 1 - Optional)
This day should be attended by any delegates who have no recent formal education in contract law, and is a necessary prerequisite to key upstream agreements including Production Sharing Contracts drafting and negotiation. This day will act as a refresher session to delegates with formal contract law education but is not necessary.
The Legal Framework And Contract Law I
- The UK Legal System including sources of law
- Mandatory elements of a legally enforceable contract
- English contract Law: contract formation
- Terms and conditions
- English contract Law: contract terms
Workshop 1- Contract Terms And Content
Delegates will be presented with some problem solving exercises in which they will consider some issues surrounding the terms in some mock contractual situations.
Contract Law II
- English contract Law: interpretation of contract terms
- English contract Law: assessing available remedies for breach of contract
- Rescission
- Compensatory damages
- Consequential and incidental damages
- Liquidated damages
- Specific performance
- Injunctive Relief
Workshop 2- Interpretation Of Contract Terms
Delegates will consider some exercises in which the principles of interpretation of contracts will be used to find practical solutions to ambiguous contract terms, and will consider better ways in which the contract could have been framed.
Day 2 - (Module 2)
This part offers an overview to the typical oil and gas upstream arrangements. Thereafter, it concentrates on PSCs key provisions negotiating, reviewing, and how to avoid common contractual pitfalls.
Oil And Gas Contracts Fundamentals And Legal Principles
Agreement With Resource Holders: Granting Instruments
- Co Leases
- Concessions or Licensing model
- Service agreements
- Production Sharing Contracts (PSCs)
Workshop 3 - Case Study (Brazil): Production Sharing Or Concessions?
Delegates will compare and contrast various granting instruments from around the world with a particular emphasis on the differences between PSCs and the concessionary systems.
An Introduction To Production Sharing Contracts
- The history and evolution of PSCs
- Legal status of PSCs
- Countries using PSCs
- Relationship between contractor and government
- Advantages for the host state
Key Characteristics Of Production Sharing Contract
- The Subject of a PSC
- The State as a Party to a PSC
- The Exploration Activity of an Investor is at its Own Expense and Risk
- Ownership of Production Produced under a PSC and the Contractor Nature of an Investor under a PSC
- The Sharing of Product: Substance and Procedure
- PSC Sample, content and format
- Drafting issues
Workshop 4 - PSCs Drafting
Delegates will discuss drafting issues arising out of PSC’s and in doing so will consider some practical drafting examples
Day 3 - (Module 2)
Determining The Structure Style Of A PSC
- Comparisons of Model PSCs
- Azerbaijan
- Brazil
- Bangladesh
- China
- Cyprus
- India
- Kurdistan
- Russia
- Tanzania
- Timor-Leste
Workshop 5 - Model PSCs
Delegates will work through some model PSCs provisions and will consider the situations in which some of these key clauses could be used.
Review Of Key Provisions And Negotiation Options (I)
- Regulatory Provisions: rules and procedures regulating the right of the contractor to conduct petroleum operations
- Description or identification of the contract area
- Area relinquishment scheme
- Duration
- Possible sub-divisions of this period (exploration, development and production)
- Obligatory exploration programme
- Exploration expenditure commitments
- Financial Provisions and Disposition of Production:
- Contractor's production disposal rights
- Finance matters
- Banking
- Foreign currency exchange and transfer of funds abroad
- Insurance matters
- Cost Recovery Production Sharing and Taxes on Income and Profits: Rules and procedures concerning production sharing (involving contractor's compensation and reward) and contractor's income taxes
- Government's and contractor's takes are determined: division of oil and gas between host state, state party and contractor
- Phases and bonus payments
- Production sharing
- Profit shares
- Implementation of procedures for recovery of costs out of cost oil
- Cost recovery
- Liability for income taxes and who is responsible for payment
- Taxation of contractor’s profit
- Possibly provisions regarding economic stabilisation of the contract
- Stabilisation
- Possibly rules on opportunities and options for state party to contribute to investments
- State participation
Workshop 6 - Fiscal Instrument
Delegates will take part in a role playing exercise to consider X country whose oil and gas industry is undeveloped but, which shares borders with several other countries who are major hydrocarbon producers and wishes to establish a fiscal system to attract investment in the oil and gas sector.
Day 4 - (Module 2)
Review Of Key Provisions And Negotiation Options (II)
- Organisational and Cooperative Aspects: Rules and procedures concerning or involving the co-operation between state party and contractor
- Supervision, operatorship and cooperation between contractor and state party
- Operations under a PSC
- Control over and decision taking with regard to investments, operational matters and work programmes and corresponding budgets (insofar as they have not already been made obligatory)
- Training, infrastructure, and local content
- Declarations of commercial discovery
- Preparation of plans to develop such discoveries (development plans)
- Legal and Non-operational Matters
- Contractor’s obligation to provide parent company guarantees or bank guarantees with respect to the completion of obligatory exploration programme and/or exploration expenditure commitments or even contractor's performance generally
- Liability vis-a-vis third parties for damages caused by the execution of the authorised petroleum operations
- Contractor's obligation to keep the government and state party harmless against third party claims
- Indemnity clauses
- Effective use of force majeure clauses
Workshop 7 - Effective Use Of Indemnity Clauses
Delegates will consider an exercise involving how to limit risk through effective use of indemnity clauses in negotiation of a PSC.
- State party's acquisition of ownership of land and moveable assets
- Internal or external assignment of the contractor's interest in the contract
- Amendment and termination of the contract
- Government ratification or approval
- Applicable law
- Dispute resolution
- Preventing costly litigation through effective use of ADR option
- Types of dispute resolution vehicles
- Assessing litigation vs. arbitration options
- Mediation considerations
- Considerations for selecting effective mediators and Arbitrators
- Selecting arbitration and mediation rules of procedure
- Drafting effective dispute resolution clause
- Practical Exercise: Mock arbitration exercise
Workshop 8 - The Dispute Resolution Clause
Delegates will consider some examples of dispute resolution clauses and will critically examine these with a view to considering some of the essential ingredients of such a clause, as ideally framed.
The Joint Development Authority Model PSC
- Nigeria/Sao Tome & Principe
PSCs: Are they “joint ventures”?
- State participation rights under concessions or PSCs
- Special case: State participation as a commercial partner under the PSC
- Motivations of the State
- Conflicts between the State and other investors
- Regulatory/enforcement role of the State
- Special powers of the State
- Different types of state oil companies
- Evolving structure of petroleum administration
- Key provisions of governing agreements for joint ventures
PSCs and Joint Operating Agreements (JOAs)
From production sharing contracts to buyback contracts
Conclusion: Significance of the PSC for the National Economy and the Protection of the Interests of Investors
27-29 Nov 2013 (London, UK)
18-20 Jun 2014 (London, UK)
26-28 Nov 2014 (London, UK)
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15-18 Jul 2013 (Paris, France)
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16-19 Dec 2013 (London, UK)
This Petroleum Company Performance Management training course has been designed to offer personnel from corporations and financial institutions a full complement of tools to use most effectively in developing and analysing the corporate performance measures for oil and gas companies.
19-23 Aug 2013 (London, UK)
11-15 Aug 2014 (London, UK)
This Euromoney Energy Training course provides a comprehensive overview of the oil and gas industry from upstream exploration and production to downstream refining, sales and marketing. You will gain an appreciation of industry dynamics and the key issues affecting its development and future. This course will provide a thorough foundation for understanding the changing industry dynamics.
16-18 Oct 2013 (London, UK)
12-14 Feb 2014 (London, UK)
15-17 Oct 2014 (London, UK)
This Euromoney Energy Training course provides a comprehensive overview of the oil and gas industry from upstream exploration and production to downstream refining, sales and marketing. Under the guidance of our expert course faculty, participants will gain an appreciation of industry dynamics and the key issues affecting its development and future.
10-12 Jul 2013 (Paris, France)
This 3-day Euromoney Energy Training course will give you an in-depth understanding of the problems and solutions in unit formation, negotiation of participation factors and operating agreements. The role of governmental agencies in consent and oversight will also be discussed.
26-29 Aug 2013 (New York, United States)
This 4 day International Oil & Gas Contracts course is specifically designed for professionals involved internationally in the oil and gas industry, it offers a unique opportunity to rapidly increase your understanding of the legal issues involved in various UK and international scenarios and to improve your techniques and skills in drafting a variety of international contracts.
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9-12 Dec 2013 (London, UK)
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8-10 Oct 2013 (Singapore)
This course explores the structure and mechanisms of production sharing contracts (PSC's) for upstream oil and gas projects. Studying the underlying processes and commercial drivers, participants will examine case studies to illustrate the economic structure of these complex agreements.
2-4 Dec 2013 (London, UK)
14-16 May 2014 (London, UK)
3-5 Dec 2014 (London, UK)
Euromoney Energy Trainings Petroleum Sales Contracts course is designed to give attendees a comprehensive understanding of crude oil, natural gas and refined products markets and the sales contracts that are utilised for transactions through the supply chain.
17-19 Sep 2013 (London, UK)
This course explores the structure and mechanisms of production sharing contracts (PSC’s) for upstream oil and gas projects. Studying the underlying processes and commercial drivers, participants will examine case studies to illustrate the economic structure of these complex agreements.
14-16 Oct 2013 (London, UK)
This 3 day Upstream Oil and Gas Acquisition and Divestment course will explain how upstream oil and gas assets are traded from both buyer and seller perspectives.
The course includes references to failed and successful deals and provides valuable insight into how to conclude successful transactions.
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18-21 Nov 2013 (Singapore)
People coming to energy risk management for the first time are taken aback by the extreme market conditions that are commonplace in the complex markets of oil, coal, and above all, gas and electricity. Levels of volatility and basis risk are unprecedented: and there are additional risks that are unique to energy. This course shows delegates how to deploy traditional risk management tools in the challenging context of volatile energy markets, and to extend these techniques to master the unique risk characteristics of gas and electricity.
18-20 Sep 2013 (London, UK)
19-21 Mar 2014 (London, UK)
17-19 Sep 2014 (London, UK)
This 3 day course concentrates on a review and analysis of energy trends over the next 20 years. While predicting future energy trends can be fraught with uncertainties, attention is given to reviewing and analysing a variety of key market drivers, applying sensitivities and discussing probable outcomes.
9-12 Dec 2013 (London, UK)
For operator drilling contractor and service company personnel that desire a specialised familiarisation, understanding and comprehension of Deepwater Drilling Operations, equipment, processes, systems and activities.
24-28 Jun 2013 (London, UK)
Featuring 3–individually bookable modules:
- Upstream development & production
- Mid-stream pipelines & LNG projects
- Downstream oil refineries & petrochemical plants
- Including: 16 key industry case studies to improve your understanding
2-5 Sep 2013 (London, UK)
This course illustrates the critical role drilling provides in the expanding offshore oil and gas sector. Offshore drilling hardware, technologies, rig equipment and systems components are explained in the context of offshore exploration, appraisal and development drilling.
28 Oct 2013 - 6 Nov 2013 (Hong Kong)
This course will enable participants with skills to identify and analyse prospective borrowers, structure credit facilities, and prepare credit applications for formal presentation and approval by bank credit committees. These skills can be used by the origination teams and credit teams of lenders and to support organisations which run or sponsor projects.
9-12 Sep 2013 (London, UK)
This four day training course is specifically designed for
professionals involved internationally in the oil and gas
industry, it offers a unique opportunity to rapidly
increase your understanding of the legal issues involved
in various international scenarios and to improve your
techniques and skills in drafting a variety of
international contracts.
14-17 Oct 2013 (London, UK)
This 4-day course is designed to introduce both lawyers and nonlawyers alike to the understanding of how contracts in the oil & gas industry actually work and how to avoid and manage disputes.
16-20 Sep 2013 (London, UK)
This 5-day course is designed to introduce both lawyers and nonlawyers alike to the theories and practice of international commercial and investment arbitration in the oil & gas industry.
9-12 Dec 2013 (London, UK)
This four day training course is specifically designed for professionals involved internationally in the oil and gas industry, it offers a unique opportunity to rapidly increase your understanding of the legal issues involved in various
international scenarios and to improve your techniques and skills in drafting, reviewing, and executing a variety of
international contracts.
2-5 Dec 2013 (London, UK)
This 4-day course will equip delegates with a critical understanding of why and how the law with respect to upstream and downstream oil and gas operations is rapidly changing, in view of the increasing importance of environmental and sustainable development issues.
21-24 Oct 2013 (London, UK)
14-17 Apr 2014 (London, UK)
Four-day workshop that comprises reviewing, analysing and discussing the key elements of joint venture agreements and alliances, business relationships and their operational implementation.
10-11 Jun 2013 (London, UK)
This 2-day course is designed to introduce both lawyers and non-lawyers alike to the key techniques, tools and strategies of successful negotiation of contracts in the energy sector.
15-17 Jul 2013 (London, UK)
This 3-day course is designed to introduce both lawyers and nonlawyers alike to the understanding of how to arrange and manage EPC contracts and how to avoid and manage disputes.
15-18 Jul 2013 (London, UK)
4-7 Nov 2013 (London, UK)
7-10 Jul 2014 (London, UK)
3-6 Nov 2014 (London, UK)
4 days of course modules that focus on the review and examination of the key elements of the supply chain from upstream activities of exploration, development and production through transportation to downstream sector that involves trading, refining, petrochemicals and final distribution to the consuming markets.
22-25 Sep 2013 (Riyadh, Saudi Arabia)
This practical Euromoney Energy Training course will enable delegates from all technical and commercial disciplines to understand the theories and methods used to value oil and gas projects. The four-days will reveal the fundamental aspects of upstream petroleum economics and risk analysis. Through computer-based exercises, participants will construct economic models, incorporating relevant cash flow data for case study projects and scenarios.
28-31 Oct 2013 (Johannesburg, South Africa)
This 4-day course is designed to introduce both lawyers and nonlawyers alike to the understanding of how contracts in the renewable industry actually work and how to avoid and manage disputes.
11-13 Nov 2013 (Doha, Qatar)
This 3-day course is designed to introduce both lawyers and nonlawyers alike to the understanding of how to arrange and manage EPC contracts and how to avoid and manage disputes.
25-26 Nov 2013 (Kuala Lumpur, Malaysia)
This 2-day course is designed to introduce both lawyers and non-lawyers alike to the understanding of how Procurement Strategy for the Oil & Gas Industry actually works. This course is delivered by combining a substantive legal understanding together with a practitioner's perspective.
17-20 Jun 2013 (London, UK)
This 4 day International Oil & Gas Contracts course is specifically designed for professionals involved internationally in the oil and gas industry, it offers a unique opportunity to rapidly increase your understanding of the legal issues involved in various UK and international scenarios and to improve your techniques and skills in drafting a variety of international contracts.
9-12 Dec 2013 (New York, United States)
This 4-day course is designed to introduce both lawyers and nonlawyers alike to the understanding of how contracts in the renewable industry actually work and how to avoid and manage disputes.
9-12 Sep 2013 (Singapore)
This 4-day course is designed to introduce both lawyers and non-lawyers alike to the understanding of how Procurement Strategy for the Oil & Gas Industry actually works. This course is delivered by combining a substantive legal understanding together with a practitioner's perspective.
Objectives
The objectives of the conference will be to
provide a practical understanding
• Provide an understanding of the tendering and contracting process
• Provide an understanding of techniques to avoid collusion or corruption during the tendering process
• Develop an understanding of ways to select bidders
• Show how to develop Invitations to Tender, and how to manage the tendering process
• Understand and manage the negotiation process
•
Who should attend
• Tender or Bidding Managers
• Contract Administrators
• Contracting Unit Supervisors
• Project Engineers and Project Managers
• Business Audit Officers
• Contract Strategists
• General Managers involved in developing contracts or contract negotiation
24-27 Jun 2013 (Dubai, United Arab Emirates)
This 4-day course is designed to introduce both lawyers and nonlawyers alike to the understanding of how contracts in the oil & gas industry actually work and how to avoid and manage disputes.
21-24 Dec 2013 (Riyadh, Saudi Arabia)
This 4 day International Oil & Gas Contracts course is specifically designed for professionals involved internationally in the oil and gas industry, it offers a unique opportunity to rapidly increase your understanding of the legal issues involved in various UK and international scenarios and to improve your techniques and skills in drafting a variety of international contracts.
24-27 Jun 2013 (London, UK)
The Energy Risk Management: Mastering Volatile and Complex Markets course is a comprehensive and systematic introduction to risk management for complex energy markets. The course will detail why and how risks in energy – particularly gas and electricity - are more acute than in other traded market sectors, and how classic risk management techniques must be adapted and extended to meet these demanding conditions.
23-26 Sep 2013 (Rio de Janeiro, Brazil)
This 4-day training course will enhance your understanding of the legal issues involved in production sharing contracts and to improve your negotiation techniques.
3-5 Jun 2013 (New York, United States)
This Petroleum Company Performance Management training course has been designed to offer personnel from corporations and financial institutions a full complement of tools to use most effectively in developing and analysing the corporate performance measures for oil and gas companies.
5-8 Nov 2013 (Dubai, United Arab Emirates)
This is a practical & interactive course with the aim of developing a clear & critical understanding of the wider macroeconomics of business, including topical economic developments and policy decisions spanning a range of countries of interest to participants.
18-22 Nov 2013 (Accra, Ghana)
Attend Euromoney Energy Training's 5-day training course on Upstream Economics & Fiscal Modelling School featuring two modules:
1. Upstream Petroleum Economics & Risk Analysis
2. Optional Module covering the Nigerian Upstream Fiscal System and Petroleum Industry Bill.
11-14 Jun 2013 (Paris, France)
This is a practical & interactive course with the aim of developing a clear & critical understanding of the wider macroeconomics of business, including topical economic developments and policy decisions spanning a range of countries of interest to participants.
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21-24 Oct 2013 (London, UK)
This 4-day training course will enhance your understanding of the legal issues involved in production sharing contracts and to improve your negotiation techniques.
28-31 Oct 2013 (Mumbai, India)
This 4-day training course will enhance your understanding of the legal issues involved in production sharing contracts and to improve your negotiation techniques.