Petroleum doesn't last forever. It is a non-renewable resource. This fundamentally drives the business decisions of Governments and companies, a key part of which is that most petroleum contracts are structured to contemplate the entire life span of a project, it's beginning, middle, and end.
Upstream Petroleum contracts can vary widely in their details; however, all must establish two key issues on how profits are divided between the government and participating companies.
This Petroknowledge training course provides in-depth information on the types of upstream petroleum contracts and what their differences are and what are the main contractual terms participants need to know in order to fully understand all types of Upstream Petroleum Contracts. This training course will comprehensively cover Production Sharing Contracts, Exploration and Production Agreement (EandP) Exploration and Exploitation Contract, License Agreement, and participants will take away essentials elements of these contracts to be effectively used in their own companies
This Petroknowledge training course is designed to be highly practical and includes hands-on inter-active sessions that will help participants understand the practical issues involved and the pitfalls to avoid. A well negotiated and drafted Upstream Petroleum Contract must stand the “test of time” and provide parties with stability as well as adaptability when circumstances change over the course of the years.
This course will highlight:
- The fundamental types of Upstream Petroleum Contracts
- The advantages and disadvantages of the different types of Upstream Petroleum Contracts and how it is suitable for specific types of projects
- Concessions, Production sharing and Risk Service Contract, important details and suitability for any oil and gas upstream project
- The role of JOA in upstream petroleum contracting Conciliation, Mediation and Settlement of Disputes
- Understanding the essentials terms of Unitization and Farm-in, Farm-Out agreements