Pre-Contract Risk Assessment  in the Oil & Gas Industry

An Intensive 5 - Day Training Course

Pre-Contract Risk Assessment
in the Oil & Gas Industry

Tips for Negotiation & Re-negotiation of Oil & Gas Contracts Post Covid-19

Scheduled Dates

17 - 21 Jul 2022 Dubai - UAE $4,950
07 - 11 Nov 2022 London - UK $5,950
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Why Choose this Training Course?

Pre-Contract Risk Assessment within the Oil & Gas industry is central. This training course aims to offer a review to common oil and gas contracts with specific emphasis on identifying common contractual pitfalls in light of Covid-19, many contracts had to be negotiated and/or re-negotiated during Covid-19 and so you will enhance your ability to do so in order to mitigate risk through commercial clauses and to increase profitability.

The PetroKnowledge training course offers a thorough analysis to the concept of risk management and the various tools in place to mitigate risk, before discussing the general commercial risks associated with placing contracts within the Oil and Gas Industry. The hands-on practical exercises will give you an understanding of the art of negotiations.

Delegates will understand the components of “the deal”, timing, strategies for gaining the upper hand in negotiations, games opponents play, good vs. bad negotiations and the pitfalls of positional bargaining. After attending this training course, delegates will be better equipped to negotiate profitably with international companies and governments in order to enforceable agreements that contain terms and conditions most productive for their company.

This training course will highlight:

  • The interactions of national legal systems in this field and the contractual frameworks
  • The impact of Covid-19 on oil and gas business
  • Negotiating contracts profitably post Covid-19
  • Understanding boilerplate contractual provisions and the risk associated with these
  • Arbitration and Alternative Dispute Resolution (ADR) Techniques

What are the Goals?

This PetroKnowledge training course aims to provide an overview of the common boilerplate contractual pitfalls in the oil and gas industry, particularly post Covid-19. You will acquire the fundamentals of international oil and gas agreements, along with negotiation techniques and strategies that work in international and multicultural settings. Delegates will also learn how to effectively negotiate in concert with counsel and how to get the terms negotiated incorporated into an enforceable international oil and gas agreement.

At the end of this training course, you will learn the following:

  • Fundamentals of Commercial Contracts
  • Key Players in the International Oil and Gas Industry & the impact of Covid-19
  • Negotiation Techniques and the Role of Counsel, especially post Covid-19
  • Key Legal Contractual Risk Management Issues
  • Managing force majeure clauses
  • Analysis of Key Provisions in International Oil & Gas Contracts
  • Standard Form Contracts Used in the Industry including internationally AIPN and in the North Sea LOGIC/CRINE
  • International Dispute Resolution in the Oil and Gas business

Who is this Training Course for?

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

  • Commercial Managers in the Oil and Gas sector looking to improve their contract negotiation skills and overall commercial performance
  • Geologists and Engineers looking to increase and improve their commercial contracts knowledge
  • Legal practitioners in the Oil and Gas Sector looking to increase their knowledge
  • Insurance and Risk Managers looking to reduce the legal and contracts risks for their companies
  • Academics looking to increase or specialise in the area of Oil and Gas Law
  • Government Departments, Policy Makers and Regulators

How will this Training Course be Presented?

This interactive PetroKnowledge training course will provide the participants an ideal opportunity to improve and sharpen their skill sets in planning and reviewing oil and gas contracts within international standards through interactive session with role playing, case studies, discussion groups and scenario building and the high-point of the training course being a simulation exercise of oil and gas contracts negotiation involving interactive role play by the participants.

The objective of the interactive role play is to enable participants to apply the knowledge and understanding gained at the workshop to negotiate a more effective oil and gas contracts. This will help participants gain practical insights into managing the risks and enhancing their rewards.

Organisational Impact

For professionals involved nationally and internationally in the oil and gas industry, this training course offers a unique opportunity to rapidly increase your understanding of the related contracts and to improve your negotiation techniques and skills in drafting a variety of related contracts.

Therefore, your organisation will benefit from this training course by:

  • Gaining expertise and improving knowledge and skill sets of personnel dealing with areas of legal risks in handling oil and gas contracts.
  • Through various workshops and exercises ability to appreciate and understand the current international practices in oil and gas contracts
  • How mitigate risks in oil and gas contracts
  • Enhancing contract personnel negotiation skills
  • International Dispute Resolution in the Oil and gas business

Personal Impact

Attendees will gain the following benefits:

  • A unique opportunity to rapidly increase your understanding of the international practices relevant to oil and gas contracts
  • Improving your negotiation techniques and skills in drafting a variety of related oil and gas contracts
  • Insurance and Claims in the oil and gas industry
  • Managing and mitigating legal risks associated with oil and gas contracts
  • Choosing most appropriate form of dispute resolution and how to draft a suitable ADR clause

Daily Agenda

Day One: The Commercial and Legal Framework

  • The Legal System & Fundamental legal principles
  • Mandatory elements of a legally enforceable contract    
  • Contract formation
  • Terms and conditions     
  • Contract terms
  • Interpretation of contract terms

Assessing Available Remedies for Breach of Contract in the Oil And Gas Industry 

  • Rescission
  • Compensatory damages
  • Consequential and incidental damages
  • Liquidated damages
  • Specific performance
  • Injunctive Relief

Avoiding Risk Through Contract Termination Clauses: Lessons from the Oil & Gas Industry

  • Common termination clauses
  • Penalty provisions
  • Avoiding common pitfalls

Day Two: Understanding Common Oil & Gas Upstream Contracts: Tips Post Covid-19

  • Production Sharing Contracts and similar agreements
  • Joint Operating Agreements
  • Farmout/Farmin Agreements
  • Drilling Contracts
  • Service and Supply Contracts

Day Three: Post Covid-19: Reducing Risk Through Effective Use of Force Majeure Clauses

  • Understand the purpose and risks this clause is intended to mitigate and the impact of Covid-19
  • Avoiding common Force Majeure pitfalls
  • Protect yourself from abuse and misuse of this clause
  • Mechanics of exercising Force Majeure rights
  • Practical Exercise: Case studies

Assessing and Managing Risk in Oil and Gas Contracts

  • Determining and assessing types of risk
  • Prioritizing risk
  • Developing Risk Minimization Strategies
  • Practical Exercise: Case Studies

Day Four: Avoiding Common Contract Pitfalls & Negotiations

  • Review boilerplate classes
  • Issues during and post Covid-19
  • How to negotiate profitably
  • Workshop Exercise: Negotiation Case TBA

Insurance & Indemnity in Oil and Gas Contracts

  • Issues that must be considered at the pre-contractual phase
  • Post contract negotiations
  • Examples of various type of indemnity provisions
  • Good practice
  • Practical Exercise: Contract drafting exercise –Drafting effective indemnity clauses

Day Five: Dispute Resolution in Oil and Gas Contracts

  • Issues that must be considered at the pre-contractual phase – drafting tips
  • Types of dispute resolution vehicles: negotiation, arbitration, mediation, litigation, expert determination
  • Importance of the dispute resolution clause
  • Framing the dispute resolution clause
  • Ad hoc dispute resolution agreements

Certificate

  • On successful completion of this training course, a PetroKnowledge Certificate will be awarded to the delegates

In Association With

GLOMACS Training

Our collaboration with GLOMACS aims to provide the best training services and benefits for our valued clients

Visit Website ›

Frequently Asked Questions

How can I register for a training course?

  • To register online through our website, please click “Enroll Now” on the course page, complete and submit the form. A confirmation e-mail and instructions will be sent to the participant’s e-mail.
  • You may also get in touch with our Registration Team on
    +971 56 222 7795 | +971 2 557 7389 or send an email to reg@petroknowledge.com

When and how do I arrange payments?

  • Payments can be made in USD or UAE local currency AED (Arab Emirates Dirhams) either by Bank Transfer or by Credit Card. Our Bank Account details will be provided on the invoice.
  • Course fees are payable upon booking unless a valid, authorized Purchase Order is provided and accepted.
  • Invoices will be sent via email/courier to the ID/name and address provided.
  • The course fee shall be settled prior to course start date. Corporate payments with existing payment policy shall be relayed to us in advance.

When should I expect to receive confirmation of registration?

Upon successful registration online, enrolment on the respective training course will be confirmed by Registration Team by e-mail along with the invoice and joining instruction.

Is there a discount for more than one registrant/course?

For corporate fees and group registration, please send your query to info@petroknowledge.com.

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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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