An Intensive 5-day Training Course
Upstream Petroleum Contracts
Comprehensive Hands-On Guide for Oil & Gas Professionals
Scheduled Dates
Classroom
| 30 Dec 2024 - 03 Jan 2025 | Dubai - UAE | $5,950 | RESERVE A SEAT |
| 24 - 28 Feb 2025 | London - UK | $5,950 | RESERVE A SEAT |
| 28 Apr - 02 May 2025 | Doha - Qatar | $5,950 | RESERVE A SEAT |
| 19 - 23 May 2025 | Kigali - Rwanda | $5,950 | RESERVE A SEAT |
| 16 - 20 Jun 2025 | Istanbul - Turkey | $5,950 | RESERVE A SEAT |
| 04 - 08 Aug 2025 | London - UK | $5,950 | RESERVE A SEAT |
| 11 - 15 Aug 2025 | Amsterdam - The Netherlands | $5,950 | RESERVE A SEAT |
| 25 - 29 Aug 2025 | Dubai - UAE | $5,950 | RESERVE A SEAT |
| 13 - 17 Oct 2025 | Lisbon - Portugal | $5,950 | RESERVE A SEAT |
| 24 - 28 Nov 2025 | Dubai - UAE | $5,950 | RESERVE A SEAT |
| 29 Dec 2025 - 02 Jan 2026 | Dubai - UAE | $5,950 | RESERVE A SEAT |
Are the scheduled dates matching with your needs?
We provide a wider range of training options. Tailored and customized, we can deliver your organisation’s training needs anytime, anywhere.
Why Choose this Training Course?
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 & Production Agreement (E&P) Exploration & 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 interactive 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 training 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 & 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
What are the Goals?
Participants will have a working knowledge of Upstream Petroleum Contracts and how to apply this knowledge to administering Production Sharing Contracts.
At the end of this training course, you will learn to:
- Gain a full understanding of the different types of the Upstream Petroleum Contracts
- Understand the main contractual terms and their differences between the various types of contracts from PSA, Service contracts and others
- Be aware of the approaches to negotiation of these contracts
- Incorporate the best terms into these Upstream Petroleum Contracts
Who is this Training Course for?
This PetroKnowledge training course will benefit all levels of personnel involved in resolution of oil and gas disputes. It will enable a broad range of disciplines to appreciate and understand the complexities of conflict resolution in the Oil and Gas industry, and how best to manage disputes in the oil and gas industry.
This training course is appropriate to a wide range of professionals but will greatly benefit:
- Senior contract negotiators and managers
- Legal managers, legal counsel
- Commercial and business managers
- Contracts administrators, and managers
- Commercial, financial and insurance professionals
- Project and General Management personnel
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 may encounter. Interactive discussions to encourage discussion of problems and possible solutions to it. Negotiation simulation exercise will help participants get a realistic feel for negotiating a PSA contract.
Organisational Impact
Negotiating Upstream Petroleum Contracts with ease will ensure your organization will benefit by:
- Enhancing your company’s ability to negotiate upstream contracts beneficial to the corporation in the short and long term bearing in mind future changes in the industry
- Improving expertise and skill sets of personnel dealing with accounting and audit policies and procedures
- Understanding the risk factors in these types of contracts and learning how to mitigate them
- Enhancing internal capacity to auditing critical areas
- Better managing claims and disputes by avoiding confrontational approaches
- Enhancing contract personnel’s negotiation skills and confidence
Personal Impact
Attendees will gain by participation in this training course as a result of:
- In-depth knowledge gained about Upstream contracts and various interpretations to essential clauses of the contract
- Managing and mitigating risks associated with Upstream contracts
- Ensuring smooth contract administration of Upstream contracts
- Enhancing your ability to negotiate and manage disputes
Daily Agenda
Day One: Introduction and Overview of Upstream Petroleum Contracts
- Brief overview of the O&G industry
- Oil and gas terminology
- The legal framework to Upstream Contracts
- Introduction to contract formation
- Key oil and gas terminology
- Oil and gas industry structure
- Relationship between different players in the oil and gas industry
- Phases of the oil and gas industry
- Oil and gas contract fundamentals and legal principles
- Territorial water, continental shelf and United Nations Convention on the Law of the Sea (UNCLOS)
Day Two: Contracting in the Upstream Sector: Ownership and Licensing
- Ownership and exploitation of reserves
- The ABCs of Petroleum Contracts: License-Concession Agreements, Joint Ventures, and Production-sharing Agreements
- Characteristics of upstream contracts
- Commercial realities of the oil and gas business
- Agreement with resource holders
- Ownership of oil and gas
- Risk Service Contracts (RSCs)
- Grant of rights by resource holder
- Host country's legal and regulatory framework and fiscal regime; stabilization
- Role of host government
- Key Issues in international oil and gas contracts
- Negotiation framework and strategy; objectives of host countries/NOCs and IOCs
- Host Government’s Role in Upstream (Exploration & Production (E&P)) Agreements
- Overview of upstream operations and E&P agreements (types and trends by region)
- Key differences between Production Sharing Contracts (PSCs), concessions, service contracts and JV contracts
- Role of Host Government in Upstream Contracts
Day Three: Production sharing contracts (PSC) & Joint Operating Agreements (JOA)
- Commercial Terms in Licensing and Concession Agreements
- Fiscal Arrangements, License Fees
- Five Key Financial Aspects to a PSC:
- Royalty, The R factor
- Cost Oil
- Profit Oil
- Taxation
- Bonuses, Penalties
- PSC – Cash Flow Distribution
- PSC – CF Distribution Example – Year N+1
- Comparison of Fiscal Systems
- Joint Operating Agreements (JOAs)
- What is a Joint Operating Agreement (JOA)?
- Nature, Aim and Functions of a Joint Venture
- Government Approval
- Key Areas of the JOA
- Purpose and Scope: Participating Interests
Day Four: Service Contracts, Farm-In and Farm-Out and Unitization - Risk bearing and Non- Risk Bearing Service Contracts
- Participation Agreements (Farm-in and Farm-out)
- Agreements for Farm-ins and Farm-outs
- Nature of the Farm-out
- Subject Matter of the Farm-out
- Interest Assigned and Reserved
- Assignment of Interest
- Unitization and Unit Operating Agreements (UUOAs)
- What is unitization?
- Unitization in Practice
- Government Approval
- Transboundary Unitization
Day Five: Negotiating Production Sharing Contracts
- Government Take
- Production Share and Cost Recovery
- Local Content
- Force Majeure
- Dispute Resolution
- Stabilization and Renegotiation Provisions
Negotiation Simulation Exercise
- Negotiation a PSA with a Government Entity
- Objective: The objective is to establish what can be achieved in the meeting, what preparation is needed for it and what strategy should be adopted and then to pursue this strategy
- Feedback Session
Negotiation of Oil and Gas Disputes
- Importance of Negotiation in Oil and Gas Business
- Disadvantages of Competitive or Positional Negotiation
- Principled Negotiation between the Parties to Achieve Best Results
Certificate
- On successful completion of this Training Course / Online Training Course, a PetroKnowledge Certificate / E-Certificate will be awarded to the delegates.
In Association With
Frequently Asked Questions
Why PetroKnowledge?
PetroKnowledge is a globally recognized provider of training courses for oil and gas professionals, offering a wide range of specialized training courses designed to enhance knowledge, skills, and expertise in the energy sector. With courses tailored to meet the evolving demands of the oil and gas industry, PetroKnowledge helps professionals stay up-to-date with industry standards, technological advancements, and best practices.
Who are these training courses designed for?
Our courses are specifically developed for professionals in the oil and gas industry, including engineers, technical staff, managers, and other specialists looking to advance their careers. Whether you’re a seasoned expert or new to the sector, our training for oil and gas professionals is suited to individuals at all stages of their professional journey.
Are the courses delivered online or in person?
PetroKnowledge offers flexible learning solutions with both online courses and in-person training options. Online courses for oil and gas professionals provide the flexibility to learn from anywhere, while in-person courses offer a hands-on, interactive learning environment. Each training course page provides detailed information on the delivery format, allowing you to choose the option that best meets your learning style and schedule
Can I get a customized training course for my team?
Yes, PetroKnowledge offers customized in-house training solutions for organizations looking to upskill their teams. We work closely with companies to design bespoke training courses for oil and gas professionals that address specific challenges and objectives. Whether you need on-site training or online solutions, we can tailor the training courses to suit your organization’s needs.
Are there any prerequisites for attending a course?
Certain advanced training courses for oil and gas professionals may require prior experience or technical knowledge. These prerequisites ensure that participants can fully benefit from the course content. We recommend reviewing the course description on the relevant page to determine if any prerequisites apply to your selected course.
How can I enroll in a course?
Enrolling in one of our training courses for oil and gas professionals is simple and convenient. Navigate to the specific course page, click “Enroll Now,” and complete the registration form. You will receive a confirmation email with further details on how to proceed.
You may also get in touch with our Registration Team on
+971 50 981 7386 | +971 2 557 7389 or send an email to [email protected]
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.
Will I receive a certificate after completing the course?
Yes, upon successful completion of our courses for professionals in the oil and gas industry, you will receive an industry-recognized certificate from PetroKnowledge. This certification is designed to validate your skills and knowledge and can significantly enhance your professional credentials, boosting your career prospects in the competitive oil and gas sector.
When and how do I arrange payments?
We offer two convenient payment options:
- Bank Transfer – You can make payment via bank transfer. Once your registration is confirmed, you will receive an invoice with the banking details for the transfer. We would require you to supply a swift copy for us to confirm receipt of funds.
- Payment Link – Alternatively, we provide a secure payment link that you can use to complete your payment after your registration has been confirmed.
What is the refund or cancellation policy?
Our refund and cancellation policy varies depending on the course and circumstances. Generally, cancellations made at least 21 days before the training are eligible for a refund, less any administrative fees. If you have any specific inquiries about the cancellation or refund, don’t hesitate to contact our support team, who can assist with your booking and cancellation queries.
Is there a discount for more than one registrant/course?
For corporate fees and group registration, please send your query to [email protected].
