Professional Course
4.0 (2 Reviews)

International Petroleum Contracts - IPC

PetroSkills, In London (+1 locations)
5 days
5 days

Course description

International Petroleum Contracts - IPC

You will learn the philosophy, evolution, and fundamentals of international petroleum contracts and have an opportunity to see how each of these actually works. You will take part in life-like negotiating sessions mastering many negotiating techniques, where a mistake is a learning experience not a disaster. As you prepare for each session, you use a computerized economic model to assess the value of contract terms. This enables improved planning of negotiating strategies to achieve the desired goals by parties on both sides of the negotiating table. The classes include participants from both national oil companies and foreign contractors, which adds further realism to the exercises. Host governments and outside contractors are on opposite sides of the negotiating table, but they are not adversaries. A win-win business arrangement should be the objective of both parties, as a signed contract makes them partners. A viable contract cannot be negotiated without an effective understanding of the underlying economics. Negotiating strategies will determine contractual terms ultimately defining the economic benefits to be realized.

Concessions and production sharing agreements are two of the contract types to be evaluated. Each participant receives a disk copy of the spreadsheets used in the negotiation workshop and a manual, which explains the fundamental principles of E&P contracts, presents examples of economic analysis, and includes a model contract.

"Liked the mock negotiations the most." - Reservoir Engineering Advisor, United States

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Who should attend?

Exploration and production managers, national oil company managers, government representatives, and others in the oil industry who expect to be involved in negotiating, administering, reviewing, managing, directing, and overseeing international exploration and production contracts between host governments and outside contractors.

Training content

  • Types of international petroleum contracts
  • Important principles and terms in all contracts
  • Host governments and contractors contract objectives
  • Specific features of different types of contracts
  • dividing the production
  • Outline of a typical contract for E&P
  • Contract operating issues
  • Funding petroleum development programs
  • How the contractor is paid
  • Contractor's risk
  • Contract economics
  • Non-financial issues
  • Analysis of contract provisions
  • Model contract
  • Natural gas production under international contracts
  • Negotiations workshop
  • Ethics in international petroleum operations

Certification / Credits

How to:

  • Distinguish between different types of contracts
  • Understand the economics terms of an E&P contract
  • Determine the economic value of various contract terms
  • Negotiate and assess the value of contractual terms


Average rating 4

Based on 2 reviews.
Write a review!
Business Development Analyst
19 Oct 2015

Well packaged course with great exercises and tools. Everything flowed well and the ultimate exercises at the end brought everything together.

Reservoir Engineering Advisor
19 Oct 2015

Liked the mock negotiations the most.



PetroSkills is the world leader in training and knowledge transfer in the oil and gas industry. For over 60 years, we have provided the highest quality classroom, virtual, online, simulator training, and e-Learning; all of which is directed and vetted...

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