Petroleum Contracts and Practice in Negotiations

Audience

Petroleum managers and administrators in the International Oil Companies, the IOCs, as well as G & G specialists and engineers; technical, legal, financial and other specialists in the oil and gas ministries of the Host Governments and in the State Oil Companies.

Content

  • Sovereignty, the state and the ownership of the petroleum resource
  • The petroleum legislation and key issues within it: the Ministry of Petroleum and the Petroleum Licensing and Monitoring Unit, PLMU. The State Oil Company: two modern examples: Pertamina and EGPC. Ten key steps in petroleum licensing and an example of modern petroleum legislation
  • Petroleum leases, concessions, agreements and contracts. The modern Equity (Royalty-Tax) Agreement, the modern Contractor (Production Sharing) Agreement and the Iranian Buy-Back Agreement
  • Technical issues in petroleum agreements: term (duration), work program (duration and content: seismic and wells), exploration periods and relinquishment, exploration and production licences, discovery , the development plan
  • Legal and contractual issues in petroleum agreements: the rights, duties, obligations and liabilities of the parties
  • Financial issues in negotiations: lease/signature bonuses, royalty, tax, additional profits taxes, OPEX, CAPEX, cost oil, profit oil, the Equity Agreement versus the Contractor
  • Negotiating strategies, seeking the agreement and closing the deal

Duration

2-day

Number of Participants

Max 20

Prerequisites

None

Software Used

None

Course Format

Classroom exercises and presentations

Audience

Petroleum managers and administrators in the International Oil Companies, the IOCs, aswell as G & G specialists and engineers; technical, legal, financial and other specialists inthe oil and gas ministries of the Host Governments and in the State Oil Companies.

Content

Duration2-dayNumber of ParticipantsMax 20PrerequisitesNoneSoftware UsedNoneCourse FormatClassroom exercises and presentations

Learning Objectives

Duration

2-day

Number of Participants

Max 20

Prerequisites

None

Software Used

None

Course Format

Classroom exercises and presentations

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