Upstream Oil and Gas Contracts

Objectives
• Gain a comprehensive understanding of the full spectrum of oil and gas contracts
• Learn about the legal principles involved in licensing, production sharing contracts and service contracts
• Anticipate and deal with issues and ramifications pertinent to energy contracts
• Strategize on risk management techniques used in Oil and Gas contracts
• Negotiate oil and gas contract clauses effectively
• Manage production and commercial risks through well-drafted contract clauses
• Formulate a comprehensive approach to contracting
• Apportion risk and liability between parties to oil and gas contracts
• Work out a contracting strategy to meet company goals
• Customize bespoke contracts suited to the needs of their company
Course Content
Introduction and Overview of Upstream Petroleum Contracts
• Brief Overview of the Oil & Gas Industry
• Oil and Gas Terminology
• The Legal Framework for Upstream Petroleum Contracts
Licensing and Production Rights
• Principal Licensing and Contractual Arrangements
• Upstream and Downstream Contracting
• Financing in the International Oil & Gas Industry
• Specific Risks in Upstream & Downstream Contracts
Production Sharing Contracts (PSCs)
• Drafting Production Sharing Contracts
• Key Clauses in PSCs
• Negotiating PSCs
Service Contracts
• Types of Service Contracts (Pure Service Contracts, Risk Service Contracts)
• Key Clauses in Service Contracts
• Negotiating Service Contracts
Joint Operation Agreements (JOAs)
• Purpose and Structure of JOAs
• Key Clauses in JOAs
• Negotiating JOAs
Bidding and Tendering for Oil and Gas Contracts
• Tender preparations
• Evaluation resources
Risk Allocation in Oil and Gas Contracts
• Liabilities & Exclusion and Limitation
• Indemnity and Exclusion Clauses
• Mutual Hold Harmless – The ‘knock for knock’ regime
• Forms of Exclusion Clauses and Common Carve-outs
Dispute Resolution in Cross Border / International Agreements
• Arbitration & Mediation
• Mediation and Conciliation, Adjudication, Dispute Boards
• Enforcement of International Arbitration Awards under the New York Convention

METHODOLOGY
The training methodology integrates lectures, interactive discussions, collaborative group exercises, and illustrative examples. Participants will acquire a blend of theoretical insights and hands-on practical experience, emphasizing the application of learned techniques. This approach ensures that attendees return to their professional environments equipped with both the competence and self-assurance to effectively implement the acquired skills in their responsibilities.

DATE:
1ST BATCH: 25th – 28th Mar, 2025
2ND BATCH: 8th – 11th July, 2025
3RD BATCH: 4th – 7th Nov, 2025