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An Intensive 5 Day Training Course

Modern Practices in Oil & Gas Contracts, Licensing,
Production Rights, Legislation and Agreements

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Course Dates, Venues and Fees

Code Date Venue Fee($)
CM111 09 - 13 Jul 2018 London - UK $5,500
CM111 10 - 14 Dec 2018 London - UK $5,500

Why Choose this Training Course?

This training course will provide its participants with valuable insight into the operations of the Oil and Gas Industry in a modern context. Oil and Gas contracts are the life blood of the industry and form the basis and foundation upon which the industry operates.  The course will give participants a frame work within which to understand the rights and obligations of both host country and operators and how they are determined and set out in the oil and gas contracts. The legal principles involved in licencing, production sharing contracts and service contracts will be highlighted and discussed in order to provide a solid understanding of the legal basis for these contracts.  Risk management in the oil and gas industry is essential and needs to be encapsulated in the contract clauses and this course will provide the fundamental knowledge of the essential risk management features that are in these contracts. Participants will get to understand investor protection in the oil and gas industry and how this can be achieved.

This comprehensive PetroKnowledge course will provide many opportunities to have interactive discussion and review case studies and discuss the various legal and regulatory aspects of these contracts. Participants will gain a true understanding of the legal underpinnings of the oil and gas contracts used around the world in the oil and gas sector.

This training course will highlight:

  • Modern aspects of oil and gas contracts
  • How to manage production and country risks
  • Key legal and commercial risk management measure
  • Investor protection by providing legal frameworks
  • Dispute resolution in cross border and international contracts

Training Objectives click here

What are the Goals?

At the end of this training course, you will:

  • Comprehensively understand the legal principles of oil and gas contracts
  • Understanding licensing, production sharing and service contracts
  • Identifying the risk factors and managing those risks
  • The relevant legal and regulatory frameworks at lay in the oil and gas industry
  • Know how to use appropriate contractual clauses in oil and gas contracts
  • Assess the best dispute resolution methods and how it will apply in different scenarios

Target Audience click here

Who is this Training Course for?

This PetroKnowledge course will benefit all levels of personnel involved in any aspect of project procurement and implementation in the oil and gas sector.  It will enable a broad range of disciplines to appreciate and understand the complexities of this industry, and how best to manage risk.

This training course is appropriate to a wide range of professionals but will greatly benefit:

  • Legal managers, legal counsel
  • Commercial and Business managers
  • Contracts administrators, and managers
  • Commercial, financial and insurance professionals
  • Project and General Management

Training Methods click here

How will this Training Course be Presented?

Participants will gain greater understanding of the subject matter through presentations by an experienced international practitioner designed to both inform and broaden the perspectives of the participants. Case studies will be reviewed and discussed bearing in mind some of the realistic scenarios participants have encountered. Interactive discussions on problems and possible solutions will be encouraged.

Daily Agenda click here

Day One: Introduction to Oil and Gas Contracts, Licensing and Production Rights

Competency Description: Understand the main principles of international law relating to licensing and contractual arrangements in oil and gas contracts and gain a comprehensive knowledge of the basic forms of oil and gas and licensing contracts and production rights.

Key behaviours

  • Acquire the basic knowledge of the licensing and contractual structure
  • Analyse the rights and obligations of parties to these types contracts
  • Understanding the financial aspects of production rights
  • Appreciate the specific risks in upstream and downstream contracts and learning to mitigate those risks

Topics to be covered

  • Principal licensing and contractual arrangements
  • Upstream and downstream contracting
  • Financing in the international oil & gas industry
  • Specific Risks in Upstream & Downstream contracts
  • Contractual claims and resultant disputes
  • The role of negotiation strategies in dispute avoidance under oil & gas contracts

Day Two: Emergence of New Contractual Arrangements

Competency Description: Working knowledge of the different modern contractual structures and arrangements like production sharing contracts, modern concession contracts, service contracts both risk service contracts and pure risk contracts.

Key behaviours

  • Understand legal, commercial and regulatory aspects of modern oil and gas contracts
  • Managing risk of production, legal, political and commercial risks
  • Analysing the environmental impact of exploration and production and policies to protect the environment
  • Knowledge of the key regulatory and institutional factors affecting these contracts

Topics to be covered

  • The Modern Concession Contracts
  • The Production Sharing Contracts
  • Participation Agreements and joint operation agreements (JOA)
  • Service Contracts, Pure Service Contracts, Risk Service Contracts
  • Environmental impacts in the context of protection policies and requirements
  • Regulatory framework, institutional factors and infrastructure
  • Comparative Analysis of the different contract forms

Day Three: Stabilisation Clauses and International Petroleum Agreements

Competency Description: Develop a specialised knowledge and understanding of stabilisation clauses and how it deals with risk of changes mainly to fiscal terms in International Petroleum contracts. Managing host country and investor expectations by using stabilization clauses to prevent unilateral changes to initial contract terms affecting the viability of the contracts entered into by the parties.

Key behaviours

  • Understanding the value of stabilisation clauses to the foreign investors, the host state and other stakeholders in the petroleum industry
  • Knowledge of the mechanisms for the stabilisation of an investment that are found in international investment instruments such as bilateral and multilateral investment treaties
  • Guide to re-negotiation of International Petroleum contracts and trigger events leading to re-negotiation
  • Using case studies to gain hands on knowledge of the key issues that will require stabilization clauses to be inserted into the international petroleum contracts.

Topics to be covered

  • Stabilisation clauses defined
  • Typology of Stabilisation Clauses
  • Validity and Efficacy of the Stabilisation Clause
  • Stabilisation Clauses and the National and International Law
  • The Re-negotiability of International Petroleum Agreements: Stability v. Flexibility
  • The Triggering Events for Renegotiation
  • Case studies

Day Four: Risk Allocation - Hold Harmless Clauses and Exclusion Clauses in the Offshore Industry

Competency Description: The risks in the Oil and Gas industry is inherently hazardous and there is a need to know how to handle the market price volatility, the geographic scope of the assets and operations, the high risk nature of exploration and exploitation of natural resources, technology requirements and environmental concerns among others which gives rise to particularly high levels of legal risk for International Oil and Gas companies. Contracts must address these issues in anticipations of these risks arising and providing a mechanism to dealing with it.

Key behaviours

  • Gain a full understanding of the relationship between liability and indemnity and exclusion clauses
  • Know how to re-allocate risk and liability through the use of knock for knock provisions in contracts also known as “mutual indemnity hold harmless clauses” or “reciprocal indemnities” or “cross indemnities” or “knock for knock” indemnities
  • Know when to use insurance as a tool for risk management
  • Know how to use termination clauses without being in breach of contract

Topics to be covered

  • Indemnity and exclusion clauses: why the need
  • Distinctions and definitions: indemnity vs. exclusion vs. limitation
  • Mutual hold harmless – the ‘knock for knock’ regime
  • Forms of exclusion clauses (and why it matters) Common carve-outs from
  • Termination clauses and disputes
  • Right to terminate under applicable law & its consequences

Day Five: Methods of Dispute Resolution under Cross Border/International Agreements

Competency Description: Many oil and gas contracts involve cross-border transactions and there may be the inevitable cross-border disputes, and contracts must specify the methods for dispute resolution in advance and the use of International arbitration in resolving cross border disputes and the need for enforcement and neutrality.

Key behaviours

  • Knowing the different type of dispute resolution mechanisms
  • Drafting a dispute resolution clause in a cross-border contract
  • Knowing the importance of choosing the governing Law of the contract and the seat of arbitration
  • Understanding the use of non-adversarial methods of dispute resolution like mediation, conciliation and adjudication and how best to use them

Topics to be covered

  • Arbitration & Mediation – Important differences
  • Mediation and conciliation, adjudication, dispute boards- save time and costs
  • Enforcement of international arbitration awards under the New York Convention
  • Contemporary Developments in case law and legislation

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Home » Courses » Contracts, Purchasing & Procurement Management » Modern Practices in Oil & Gas Contracts, Licensing, Production Rights, Legislation and Agreements
PetroKnowledge Training


Modern Practices in Oil & Gas Contracts, Licensing,
Production Rights, Legislation and Agreements


Code Date Venue Fees
CM111 09 - 13 Jul 2018 London - UK $5,500
CM111 10 - 14 Dec 2018 London - UK $5,500



Why Choose this Training Course?

This training course will provide its participants with valuable insight into the operations of the Oil and Gas Industry in a modern context. Oil and Gas contracts are the life blood of the industry and form the basis and foundation upon which the industry operates.  The course will give participants a frame work within which to understand the rights and obligations of both host country and operators and how they are determined and set out in the oil and gas contracts. The legal principles involved in licencing, production sharing contracts and service contracts will be highlighted and discussed in order to provide a solid understanding of the legal basis for these contracts.  Risk management in the oil and gas industry is essential and needs to be encapsulated in the contract clauses and this course will provide the fundamental knowledge of the essential risk management features that are in these contracts. Participants will get to understand investor protection in the oil and gas industry and how this can be achieved.

This comprehensive PetroKnowledge course will provide many opportunities to have interactive discussion and review case studies and discuss the various legal and regulatory aspects of these contracts. Participants will gain a true understanding of the legal underpinnings of the oil and gas contracts used around the world in the oil and gas sector.

This training course will highlight:


Training Objectives

What are the Goals?

At the end of this training course, you will:

Target Audience

Who is this Training Course for?

This PetroKnowledge course will benefit all levels of personnel involved in any aspect of project procurement and implementation in the oil and gas sector.  It will enable a broad range of disciplines to appreciate and understand the complexities of this industry, and how best to manage risk.

This training course is appropriate to a wide range of professionals but will greatly benefit:

Training Methods

How will this Training Course be Presented?

Participants will gain greater understanding of the subject matter through presentations by an experienced international practitioner designed to both inform and broaden the perspectives of the participants. Case studies will be reviewed and discussed bearing in mind some of the realistic scenarios participants have encountered. Interactive discussions on problems and possible solutions will be encouraged.

Daily Agenda

Day One: Introduction to Oil and Gas Contracts, Licensing and Production Rights

Competency Description: Understand the main principles of international law relating to licensing and contractual arrangements in oil and gas contracts and gain a comprehensive knowledge of the basic forms of oil and gas and licensing contracts and production rights.

Key behaviours

Topics to be covered

Day Two: Emergence of New Contractual Arrangements

Competency Description: Working knowledge of the different modern contractual structures and arrangements like production sharing contracts, modern concession contracts, service contracts both risk service contracts and pure risk contracts.

Key behaviours

Topics to be covered

Day Three: Stabilisation Clauses and International Petroleum Agreements

Competency Description: Develop a specialised knowledge and understanding of stabilisation clauses and how it deals with risk of changes mainly to fiscal terms in International Petroleum contracts. Managing host country and investor expectations by using stabilization clauses to prevent unilateral changes to initial contract terms affecting the viability of the contracts entered into by the parties.

Key behaviours

Topics to be covered

Day Four: Risk Allocation - Hold Harmless Clauses and Exclusion Clauses in the Offshore Industry

Competency Description: The risks in the Oil and Gas industry is inherently hazardous and there is a need to know how to handle the market price volatility, the geographic scope of the assets and operations, the high risk nature of exploration and exploitation of natural resources, technology requirements and environmental concerns among others which gives rise to particularly high levels of legal risk for International Oil and Gas companies. Contracts must address these issues in anticipations of these risks arising and providing a mechanism to dealing with it.

Key behaviours

Topics to be covered

Day Five: Methods of Dispute Resolution under Cross Border/International Agreements

Competency Description: Many oil and gas contracts involve cross-border transactions and there may be the inevitable cross-border disputes, and contracts must specify the methods for dispute resolution in advance and the use of International arbitration in resolving cross border disputes and the need for enforcement and neutrality.

Key behaviours

Topics to be covered

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© 2018. Material published by Petroknowledge shown here is copyrighted.

All rights reserved. Any unauthorized copying, distribution, use, dissemination, downloading, storing (in any medium), transmission, reproduction or reliance in whole or any part of this course outline is prohibited and will constitute an infringement of copyright.


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