Oil & Gas Contracts
Course Code: OG06
Course Objective
- Appreciate the uses of various types of oil and gas contracts
- Describe best practice in supply chain management
- Identify, assess and manage key contractual risks
- Evaluate the most appropriate way to dispute resolution
- Perform more confidently in negotiations
Target Audience
- Procurement managers and purchasing staff
- Engineering, operational and maintenance personnel
- Contracts engineers, administrators, and managers
- Commercial, financial and insurance professionals
- Project and General Management
Course Outline
DAY 1: Principal Types of Oil and Gas Contracts
- Principles of Petroleum Law and Industry
- Exclusivity, Mutual Interest and Confidentiality
- Concessions/Licenses
- Hire, Lease and Rentals
- Services and Works Agreements
- Multi-party Contracts
DAY 2: Managing the Supply Process
- Overview of Procurement Best Practice
- Developing the Scope of Work
- Qualifying Suppliers
- Managing the Supply Chain
- Contract Award and Execution
- Bribery and Corruption
DAY 3: Key Contractual Issues and their Management
- Performance and Penalties
- Liabilities and Indemnities
- Force Majeure
- Pricing and Payment
- Termination
- Local Content Requirements
DAY 4: Managing Contractor Performance
- Identifying and Managing Supplier Risk
- Service Level Agreement
- Key Performance Indicators
- Changing the Scope of Work
- Limiting and Excluding Liability
- Use of Bonds, Guarantees and Warranties
DAY 5: Dispute Management in the Petroleum Industry
- Damages and Other Remedies
- Litigation or Arbitration?
- Alternative Third Party Dispute Resolution
- Enforcement Measures
- Negotiation, Compromise, Settlement
- Open Forum – Questions and Final Review
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