Joint Venture and Other Collaboration Agreement for the Oil & Gas Industry
Course Description
Why
Choose Course?
A
Production Sharing Contract (PSC) is used in key oil and gas producing
countries, each of these have different approaches and levels of complexity.
These complex agreements include a number of clauses that have particular legal
interpretation and accompanying fiscal formulas. Therefore, it is crucial to
have the correct understanding of the terms in order to calculate the formulas
correctly and ensure a smooth agreement implementation.
During
this training, delegates will acquire a
clear understanding of the fundamentals of Production Sharing Contracts (PSCs),
along with Joint Operating Agreements (JOAs) negotiation techniques and
strategies that work in international and multicultural settings. Delegates
will also master how to effectively negotiate in concert with counsel and how
to get the terms negotiated incorporated into an enforceable agreement.
The 5
Day Working in Partnership Joint Venture and Production Sharing Contract course is specifically designed for
professionals involved nationally and internationally in the oil and gas
industry, it offers a unique opportunity to rapidly increase your understanding
of the legal issues involved in Production Sharing Contracts (PSCs) and Joint
Operating Agreements (JOAs) to in various international scenarios and to
improve your techniques and skills in drafting a variety of related contracts.
This seminar will
highlight:
- 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
Training Objectives
What
are the Goals?
By end of this seminar, delegates will:
- 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 analyse 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)
Target Audience
Who is
this course for?
This course is beneficial
for operator and contractor professionals involved in Production Sharing
Contract (PSC) and Joint Operation Agreement (JOA) negotiation and
administration, including:
- Contracts Managers and
Administrators in the Oil and Gas sector looking to improve their drafting
and negotiation skills with particular emphasis on the risk assessment
clauses
- Legal Practitioners looking to
increase their Oil and Gas Contacts Law knowledge and how to avoid common
contractual pitfalls
- Geologists and Engineers who seek
practical understanding of the legal aspect surrounding contracts
- Academics / Students looking to
increase or specialise in the area of Oil and Gas Law
- Insurance and Risk Managers
looking to reduce the legal and contracts risks for their companies
- Government Departments, Policy
Makers and Regulators
Training Methods
How
will this Course be Presented?
This course
will utilize a variety of proven online learning techniques to ensure maximum
understanding, comprehension, retention of the information presented. The
training course is conducted online via an Advanced Virtual Learning Platform
in the comfort of your choice location.
Organizational Impact
Production
Sharing Contracts (PSCs) are used in key oil and gas producing countries, each
of these have different approaches and levels of complexity. These complex
agreements include a number of clauses that have particular legal
interpretation and accompanying fiscal formulas. Therefore, it is crucial to
have the correct understanding of the terms in order to calculate the formulas
correctly and ensure a smooth agreement implementation.
Your organisation will benefit from this course by:
- Gaining expertise and improving
knowledge and skill sets 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 own practice to work out 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 ability to managing
claims and disputes and avoiding adversarial approaches
Personal Impact
Attendees will gain by participation in this seminar as a result
of:
- 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)
Daily Agenda
Day
One: Introduction to Upstream Agreements & Production Sharing Contracts
(PSCs)
- The Legal Framework and Contract
Law II
- Contract Law II
- Oil and Gas Contracts Fundamentals
and Legal Principles
- Agreement with Resource Holders
- An Introduction to Production
Sharing Contract (PSCs)
Day
Two: Agreements Between Co-Ventures
- Agreement with Resource Holders
(I)
- Leases
- Service Agreements
- Concessions / Licensing
- Example from Three International
Jurisdictions
- Agreements between Co-Ventures
- International model form
Confidentiality Agreement (CA)
- AMI’s and Bidding Agreements
- Joint Operating Agreements (JOA)
- Standard Model form International
Operating Agreement
- Drafting Issues
- Unit Operating Agreement /
Unitization: What is it? Why do it?
Day
Three: Production Sharing Contract (PSC) Structure
- Key Characteristics of Production
Sharing Contract (PSC)
- The Subject of a Production
Sharing Contract (PSC)
- The State as a Party to a
Production Sharing Contract (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 Production
Sharing Contract (PSC)
- The Sharing of Product: Substance
and Procedure
- PSC Sample, Content and Format
- Drafting Issues & Workshop
Day
Four: Minimizing Loss Through Careful Limitation of Liability Clauses
- Drafting Enforceable Liquidated
Damage Clauses
- Handling Consequential Damage
Waivers
- Mitigation of Damages Clause
- Contractual Limitations Periods
- Transferring Risk by Contractual
Indemnity
- Negligence
- Strict Liability
- Pre-Existing Conditions
- Managing Risk through Adequate
Insurance Provisions
- Insurance Subordination Issues
- Effective Claims Management
Day
Five: Preventing Costly Litigation through Effective Use of Alternative Dispute
Resolution Options
- Avoiding Common Contract Pitfalls
- Types of Dispute Resolution
Vehicles
- Assessing Litigation vs.
Arbitration Options
- Mediation Considerations
- Considerations for Selecting
Effective Mediators and Arbitrators
