The International Oil and Gas industry operates within a continuously challenging environment. It is driven by, and dependent upon people; process and technology. It is a capital intensive, high risk industry – often with lengthy payback periods. It is a truly global industry, and one that operates in ever more challenging environments such as ultra-deepwater drilling and remote, harsh locations such as the Arctic. Cross cultural dealings are the norm. National resources and the ability to change a country’s economic profile are often directly dependent upon the efficient extraction and exploitation of hydrocarbon resources. In short – it is a high stakes game – there is little room for error.
All of the commercial activities within the industry are governed by contractual agreements. A contract provides clarity and a defined scope of parties’ rights; duties and obligations. A contract often helps to define and manage stakeholder expectations. A contract provides recourse when a dispute breaks out.
This Masterclass will empower the delegate. They will learn about the importance and the roles played by the contractual function. They will understand the influence and impact of governments upon commercial contracts. Most importantly – the delegates will learn methodologies for drafting and negotiating international agreements within a multicultural framework. The delegate will gain an insight into the overarching importance of corporate social responsibility (CSR) and will understand commonly utilised dispute resolution methodologies.
This course will arm delegates with a powerful set of tools and new knowledge that can be immediately applied and add value on completion.
Upon completion of this course, delegates will:
- Understand the key structural components of an international commercial contract
- Grasp the essence of negotiation and be able to implement negotiation strategies
- Become familiar with the key components and process of Production Sharing Agreements (PSA’s)
- Discern both the advantages and disadvantages associated with Joint Operating Agreements
- Know what the ramifications are of entering into a JV
- Become familiar with the various methodologies and details of unitisation
- Have awareness of the processes involved with ‘Farming out’ and ‘Farming in’
- Understand why decommissioning is a significant issue with many contractual ramifications
- Grasp the importance of Corporate Social Responsibility and what this means to the International Oil and Gas Industry
- Become familiar with dispute resolution processes
Mennta Energy Solutions
Mennta Energy Solutions, formerly The Oxford Princeton program, addresses the knowledge gaps of energy professionals throughout the world with innovative and proven training techniques – instructor-led and online. The effectiveness of the training can be measured by the over 100,000...
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