A Production Sharing Contract (PSC) is used in key oil and gas-producing countries, each of these has different approaches and levels of complexity. These complex agreements contain several clauses with specific legal interpretations and fiscal formulas. As a result, it is critical to have a thorough understanding of the terms in order to correctly calculate the formulas and ensure a smooth agreement implementation.
Delegates will gain a solid understanding of the fundamentals of Production Sharing Contracts (PSCs), as well as Joint Operating Agreements (JOAs) negotiation techniques and strategies that work in international and multicultural settings, during this training. Delegates will also learn how to negotiate effectively with counsel and how to get the terms negotiated incorporated into an enforceable agreement.
The five-day Operation in Partnership Joint Venture and Production Sharing Contract training course is specifically designed for professionals involved in the oil and gas industry both nationally and internationally. It provides a unique opportunity to quickly increase your understanding of the legal issues involved in Production Sharing Contracts (PSCs) and Joint Operating Agreements (JOAs) in various international scenarios, as well as to improve your techniques and skills.
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
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 analyses 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)
This interactive training course on Working in Partnership Joint Venture and Production Sharing Contract 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 an 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.
Production Sharing Contracts (PSCs) are used in key oil and gas producing countries, each of these has different approaches and levels of complexity. These complex agreements include several clauses that have particular legal interpretation and accompanying fiscal formulas. Therefore, it is crucial to have the correct understanding of the terms to calculate the formulas correctly and ensure a smooth agreement implementation.
Gaining expertise and improving knowledge and skillsets 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 practice to work out the 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 the capability of managing claims and disputes and avoiding adversarial approaches
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)
