An Intensive 5-day Training Course
Joint Venture and Other Collaboration Agreement for the Oil & Gas Industry
Working in Partnership, Joint Venture and Production Sharing Contract
Course Introduction
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 course, delegates will acquire a clear understanding of the fundamentals 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 five-day OXFORD Working in Partnership Joint Venture and Production Sharing Contract training 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 training course 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
Objectives
By end of this training course, 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)
Training Methodology
This interactive training course 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 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.
Organisational 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 Oxford Management Centre training 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 training course 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)
Who Should Attend?
This training 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
Course Outline
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
- Selecting Arbitration and Mediation Rules of Procedure
- Drafting Effective Dispute Resolution Clause
Certificate
Oxford Management Centre Certificate will be provided to delegates who successfully completed the training course.
Accreditation
In association with
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FREQUENTLY ASKED QUESTIONS
To check on availability please call Registrar’s Office at +971 50 985 0174. If you have any questions or enquiries please feel free to contact us
- Telephone: +971 50 985 0174
- E-mail: [email protected]
Yes, we provide assistance in securing both hotel reservations & entry visa on all our international training venues, for delegates attending our training courses. For further information / assistance, please contact our Customer Service at:
- Telephone: +971 50 985 0174
- E-mail: [email protected]
Yes, Oxford Management Centre is accredited by the following professional bodies;
National Association of State Board of Accountancy (NASBA)
The Oxford Management Centre is registered with NASBA as a sponsor of Continuing Professional Education (CPE) on the National Registry of CPE Sponsors. NASBA have final authority on the acceptance of individual courses for CPE credit.
Yes, discounts are available. For further information please call +971 50 985 0174 or email, [email protected]
Note: Discounts are not applicable with any other special offer that may be available.
There are 2 easy ways to register:
- Online: Select the training course you want to register for, Click the “Book Your Place” button on the course page, complete the form and click submit.
- E-mail: Send your details to [email protected]
We request that all cancellations be made at least one week before the class start date. You may reschedule this class without any penalty. If not, a $250 fee will be charged for cancellations received less than one week before a class begins and for no-shows. Cancellation penalties and any fees incurred by Oxford Management Centre will be deducted from refunds.
For more information request, email [email protected] or call +971 50 985 0174.
The classroom training fees include course presentation, relevant materials, physical & digital documentation, lunch and refreshments served during entire training. Accommodation and transportation are not included in the training course fees.
While, online training fees cover the course presentation and digital documentation and relevant materials.
The Oxford Management Centre Certificate of Completion with corresponding CPE credits shall be awarded to delegates who has successfully completed the training course.
Payment must be received before the training course commences. You can make payment by bank draft, cash, credit card or wire transfer.
Note: If the payment is not received, Oxford Management Centre has the right to refuse admission.
Upon receipt of your registration form, we will send you the following by e-mail:
- Registration Confirmation
- Invoice/Receipt (where appropriate)
If you register online you will receive an e-mail within 24 hours confirming your registration.
