Oil & Gas Contract Management

Introduction

The continued accelerated pace of change in the oil industry and high levels of investment combine to make it one of the world's most challenging and complex sectors in which to understand and manage contracts. Good scrutiny and overall analysis of oil & gas contracts to remove ambiguities and risky clauses can make a vital difference to the bottom-line success or failure of an organisation. This Oil & Gas Contract Management training course will provide the participants with a solid foundation for understanding.

Course Objectives 

• Acquire management and negotiation techniques.
• Identify, assess, and manage key contractual risks.
• Manage force majeure and liability clauses.
• Analyse key provisions in international oil and gas contracts.
• Describe best practices in supply chain management.
• Learn international dispute resolution in the oil and gas business.
• Perform negotiations more confidently.

Course Outlines

Day 1: Types of Oil and Gas Contracts

• Principles of Oil & Gas Contracts.
• Exclusivity, Mutual Interest, and Confidentiality.
• Concessions/Licenses.
• Leases and Rentals.
• Services and Works Agreements.
• Multi-Party Contracts.

Day 2: Managing the Supply Chain Process

• Overview of Procurement Best Practice.
• Identifying and managing risk in Supply Chain.
• Developing the Scope of Work.
• Qualifying Suppliers.
• Managing the Supply Chain.
• Contract Award and Execution.
• Bribery and Corruption.

Day3: Key Contractual Issues and Their Management

• Performance and Penalties.
• Liabilities and Indemnities.
• Pricing and Payment.
• Force Majeure.
• Termination.
• Local Content Requirements.

Day 4: Managing Contractor Performance

• Identifying and Managing Supplier Risk.
• Service Level Agreements.
• 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.
• Negotiation, Compromise, Settlement.
• Alternative Third-Party Dispute Resolution.
• Litigation or Arbitration?
• Enforcement Measures.
• Open Forum – Questions and Final Review.