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.
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 specialize 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
• 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)
• 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?
• 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
• 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
• 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
Mark is certified trainer with 20+ years of experience in gulf and London. He has trained batches, corporates, individuals and companies from all over the world.
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