International Petroleum Contracts - IPC

Course summary
5 days
4,340 - 5,320 USD
Houston, Kuala Lumpur, London
Open / Scheduled

Course description

You will learn the philosophy, evolution, and fundamentals of international petroleum contracts and have an opportunity to see how each of these actually works. You will take part in life-like negotiating sessions mastering many negotiating techniques, where a mistake is a learning experience not a disaster. As you prepare for each session, you use a computerized economic model to assess the value of contract terms. This enables improved planning of negotiating strategies to achieve the desired goals by parties on both sides of the negotiating table. The classes include participants from both national oil companies and foreign contractors, which adds further realism to the exercises. Host governments and outside contractors are on opposite sides of the negotiating table, but they are not adversaries. A win-win business arrangement should be the objective of both parties, as a signed contract makes them partners. A viable contract cannot be negotiated without an effective understanding of the underlying economics. Negotiating strategies will determine contractual terms ultimately defining the economic benefits to be realized.
Concessions and production sharing agreements are two of the contract types to be evaluated. Each participant receives a disk copy of the spreadsheets used in the negotiation workshop and a manual, which explains the fundamental principles of E&P contracts, presents examples of economic analysis, and includes a model contract.

Suitability - Who should attend?

Exploration and production managers, national oil company managers, government representatives, and others in the oil industry who expect to be involved in negotiating, administering, reviewing, managing, directing, and overseeing international exploration and production contracts between host governments and outside contractors.

Training Course Content

Types of international petroleum contracts; Important principles and terms in all contracts; Host governments and contractors contract objectives; Specific features of different types of contracts; dividing the production; Outline of a typical contract for E&P; Contract operating issues; Funding petroleum development programs; How the contractor is paid; Contractor's risk; Contract economics; Non-financial issues; Analysis of contract provisions; Model contract; Natural gas production under international contracts; Negotiations workshop; Ethics in international petroleum operations

About provider

PetroSkills - Oil & Gas Training Courses

PetroSkills was founded in 2001 as an alliance between BP, Shell and OGCI, aiming to accomplish a mission of vital importance for the future of the Oil & Gas industry. PetroSkills provide high quality professional training and courses that are...

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Average rating 4

Based on 2 reviews

Business Development Analyst
Well packaged course with great exercises and tools. Everything flowed well and the ultimate exercises at the end brought everything together.
Reservoir Engineering Advisor
Liked the mock negotiations the most.
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