Course in Upstream Petroleum Contracts

The course aims to provide participants with the essential knowledge and practical skills required to understand, draft, and manage upstream petroleum contracts effectively, helping them mitigate potential risks and ensure compliance with regulatory standards. Key objectives include:

• Developing an in-depth understanding of key contract types in oil and gas, including Exploration and Production Agreements, Production Sharing Contracts, and Licensing and Concession Agreements.
• Learning compliance measures related to Environmental Regulations and Health and Safety requirements to operate within legal standards.
• Enhancing Contractual Negotiation and Strategy skills to secure favourable outcomes for all stakeholders.
• Analysing Cost Recovery and Profit Oil models to understand how revenue and profits are distributed among partners.
• Understanding Fiscal Terms in Upstream Petroleum Contracts and the importance of regulatory compliance from a taxation and financial perspective.
• Exploring dispute resolution mechanisms, including Dispute Resolution in Oil and Gas Contracts, to prevent and manage potential conflicts effectively.

Target Audience

This course is designed for professionals working in or associated with the oil and gas sector who are involved in the drafting, negotiation, or management of upstream contracts. Specifically suited for:

• Legal Advisors and Contract Managers responsible for drafting and enforcing Contractual Obligations in Petroleum agreements and ensuring regulatory compliance.
• Project Managers and Operations Directors overseeing operational compliance with Local Content Requirements and health and safety standards.
• Financial Analysts and Tax Advisors seeking to understand Royalty and Tax Regimes and evaluate the financial structures of petroleum contracts.
• Business Development and Strategic Planning Specialists interested in establishing partnerships and familiarising themselves with Joint Venture and Partnership Models that drive value creation.
• Compliance and Quality Control Officers focused on understanding Environmental Compliance in Upstream activities and adhering to industry health and safety standards.

• Legal and Regulatory Foundations of Upstream Contracts
  • Overview of essential contract types, such as Exploration and Production Agreements, Joint Venture Models, and Partnership Agreements.
  • Legal considerations and differing obligations within petroleum contracts from exploration through to production phases.
• Fiscal and Revenue Terms in Petroleum Contracts
  • Analysis of Royalty and Tax Regimes applicable to upstream contracts.
  • Insight into Cost Recovery and Profit Oil structures, and how revenue and profits are allocated.
  • Addressing Fiscal Terms in Upstream Petroleum Contracts to ensure tax and financial regulatory compliance.
• Environmental and Health and Safety Compliance
  • Key elements of Environmental Compliance in Upstream contracts, supporting adherence to environmental legislation.
  • Health and Safety Regulations to ensure adherence to best practices for a safe and compliant working environment.
• Risk Management and Contractual Obligations
  • Effective Risk Allocation in Upstream Contracts, specifying responsibilities to reduce uncertainties and liabilities.
  • Emphasis on Contractual Obligations in Petroleum to ensure all contractual terms are met by each party.
• Negotiation Strategies and Contract Drafting
  • Improving Contractual Negotiation and Strategy skills to align interests and achieve balanced agreements.
  • Techniques to manage competing interests effectively and find balanced solutions that benefit all parties.
• Local Content Requirements and Operational Standards
  • Overview of Local Content Requirements in petroleum agreements, including their role in supporting local economies.
  • Ensuring operational standards are met by addressing the unique challenges of oil and gas exploration in various locations.
• Dispute Resolution and Compliance
  • Developing Dispute Resolution in Oil and Gas Contracts strategies to prevent issues and maintain smooth operations.
  • Ensuring adherence to Regulatory Compliance in Petroleum to avoid risks and potential penalties.
• Licensing and Concession Management
  • Steps for obtaining licenses and managing Licensing and Concession Agreements to ensure rights protection and regulatory compliance.
  • Emphasising clear terms regarding the rights and responsibilities of all involved parties.