Course Details
Course Outline
5 days course
Bidding and tendering for oil and gas contracts
- Tender preparations
- Evaluation resources
- Preparing your finished submission
- Confidentiality at the bidding stage
- Practical examples
Drafting Production Sharing Contracts – PSCs
- Different approaches and levels of complexity
- New PSC’s in key jurisdictions
- The role of calculation
- Understanding the formulas
- The non-fiscal legal and contractual terms
- Contractual terms and conditions
- Royalties and taxes
- Practical examples
Drafting agreements for farm-ins and farm-outs
- The role of the ‘MAC’ clause
- What is a ‘MAE’ clause?
- Assignment of interest
- Nature of the farm-out
- Subject matter of the farm-out
- Earning requirements
- Interest assigned and reserved
- Practical examples
Key equipment and materials contracts
- Capital equipment agreements
- Drafting equipment rental and lease agreements
- MRO
- Drilling equipment rental and lease agreement
- Ensuring a reliable supply of materials in remote places
- Practical examples
Multi-party contracting scenarios including teaming agreements
- Contractors and sub-contractors creating a seamless support team
- Teaming agreements – risks and rewards
- Crude and production distribution agreements
- Joint ventures in the oil industry
- Practical examples
Production and decommission phase agreements
- The main form of a crude oil sale agreement
- Abandonment, decommissioning and restoration
- The principle contracts for the end of the lifecycle of a petroleum field
- Principle methods of payment under the agreement
- Principle forms of crude oil sale agreements
- The role of letters of credit
- Practical examples
