This online course will provide a comprehensive understanding of the nature, purpose, and structure of some of the key commercial contracts used in the upstream and downstream sectors and some prominent legal issues arising under these contracts.
By the end of this virtual training course, participants will:
- Develop an understanding of some key commercial contracts in the upstream and some downstream sectors.
- Learn about the commercial rationale, purpose, structure of these contracts.
- Gain detailed knowledge about a wide range of legal issues and problems, arising under these contracts, and how these issues are resolved by some major legal systems, such as English law.
- Develop an ability to evaluate the relative strengths and weaknesses of different contractual solutions adopted in respect of various issues and problems.
- Gain an understanding of the relevant legal framework of some major legal regimes, such as that of English law and the UN Sales Convention.
This online training 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.
Organisations will gain a number of benefits, including:
- Expert knowledge of some key commercial contracts used in the oil and gas upstream and downstream sectors
- In-house expertise in commercial and legal issues arising in the exploration, development, production and sale of oil and gas
- Employees with an ability to analyse and navigate through a wide range of commercial contracts and their key provisions
- Employees with an enhanced understanding of the structures of and solutions adopted in commercial contracts in the natural resources sector and how these contracts are governed by some major legal regimes, such as that of English law and, where relevant, the UN Sales Convention
This online training will provide participants with a number of benefits, including:
- Comprehensive and systematic knowledge of commercial contracts in the oil and gas sector, much of which is transferrable to other natural resource industries and other sectors
- A detailed understanding of commercial and legal issues and problems arising in the context of commercial arrangements, such as joint operating, unitisation, service, farm-out and sales agreements
- Knowledge of the approaches that some major legal regimes, such as English law, take to governing these contracts and their key clauses
- An ability to analyse the relative strengths and weaknesses of different contractual solutions
- Enhanced contract drafting skills
Who should attend?
This is suitable for a wide range of professionals but will greatly benefit:
- Industry and legal practitioners or civil servants working with the energy/natural resources industry
- Commercial, governmental or legal professionals with an interest in the regulation of the energy/natural resources industry
Joint Operating and Unitisation Agreements
- The rationale, purpose and basic principles of a joint operating agreement (JOA)
- The appointment, duties and removal of the operator
- The Operating Committee
- Sole risk and non-consent options
- Cash calls, default and its consequences; under-/over-lifting
- The rationale, purpose and basic principles of a unitisation agreement (UA)
- The re-determination procedure in a UA and its consequences
Service Contracts and Agreements on Acquisition and Disposal of Assets
- Service contracts generally
- Drilling contracts: basic structure and key issues
- Risk allocation provisions in service contracts: indemnity and limitation of liability clauses
- Agreements on acquisition and disposal of assets: general introduction
- Farm-out agreements: basic principles
- Farm-out agreements: specific issues and cases
Oil Sales Contracts and Long-Term Gas Sales Agreements
- Oil sales contracts: general introduction and the overview of the role of English law and the UN Sales Convention
- Oil sales contracts: basic rights and obligations of the parties under English law and the UN Sales Convention
- Oil sales contracts: specific obligations of the seller under CIF and FOB contracts
- Long-term gas sales agreements: general introduction
- Long-term gas sales agreements – specific issues and cases