Petroleum is a nonrenewable resource that will not last forever. This fundamentally drives government and corporate business decisions, one of which is that most petroleum contracts are structured to consider the entire life cycle of a project, beginning, middle, and end.
The details of upstream petroleum contracts can vary greatly; however, all must establish two key issues regarding how profits are divided between the government and participating companies.
This Upstream Petroleum Contracts training course covers the various types of upstream petroleum contracts, their differences, and the key contractual terms that participants must understand in order to fully comprehend all types of Upstream Petroleum Contracts. This contract management training course covers production sharing contracts, exploration and production (E & P) contracts, exploration and exploitation contracts, and licensing contracts in detail, and participants have key elements of these contracts as well as their own. Make good use of it in your business. This upstream oil contract training program is highly practical, with hands-on interactive sessions to help participants understand real-world problems and avoid pitfalls.
Well-negotiated and well-crafted upstream oil contracts need to withstand the "trials of time" and provide the parties with stability and the ability to adapt to changing circumstances over the years.
The Fundamental Types of Upstream Petroleum Contracts
The Advantages and Disadvantages of the Different Types of Upstream Petroleum Contracts and How it is suitable for Specific Types of Projects
Concessions, Production Sharing & Risk Service Contract, Important Details and Suitability for any Oil and Gas Upstream Project
The Role of JOA in Upstream Petroleum Contracting Conciliation, Mediation and Settlement of Disputes
Understanding the Essentials Terms of Unitization and Farm-in, Farm-Out Agreements
Participants will have a working knowledge of Upstream Petroleum Contracts and how to apply this knowledge to administering Production Sharing Contracts. Further, the participant will gain a working knowledge of accounting and auditing procedures that will need to be implemented.
Gain a full understanding of the different types of the Upstream Petroleum Contracts
Understand the main contractual terms and their differences between the various types of contracts from PSA, Service contracts, and others
Be aware of the approaches to the negotiation of these contracts
Incorporate the best terms into these Upstream Petroleum Contracts
Participants will gain a better understanding of the subject through presentations by an experienced international practitioner designed to both inform and broaden the participants' perspectives. Case studies will be reviewed and discussed in light of some of the realistic scenarios that participants may face. Interactive discussions promote the discussion of problems and potential solutions. The negotiation simulation exercise will give participants a realistic sense of what it's like to negotiate a PSA contract.
