Certificate in Oil & Gas Law & Practice
- Field Of Study:
- Law
- Level Of Study:
- Certificate / Professional Certificate
- Course Subject:
- Law
- Course Intake:
- January
By attending this course participants will:
- Gain knowledge on oil & gas legal frameworks
- Review petroleum contract structures that governments and oil companies use to grant petroleum rights and govern petroleum activities
- Analyse key petroleum agreements relating to exploration, development and marketing of oil and gas
- Fast-track understanding of the oil and gas value chain
- Master the oil and gas industry’s jargon
- Boost your comprehension of the legal and commercial structures supporting upstream, midstream and downstream activities in the oil and gas industry
The Certificate in Oil & Gas Law is a comprehensive and practical programme that is ideal for those who wish to broaden their understanding of the legal and commercial fundamentals of the oil and gas industry.
This course will enable participants to gain an insight into the key principles that regulate oil and gas activities.
The programme will be facilitated by industry – renowned trainers and participants will be exposed to the agreements that are entered into by companies for the joint development, exploration, production, processing and marketing of oil and gas.
COURSE OUTLINE
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CERTIFICATE IN OIL & GAS LAW & PRACTICE
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Fundamentals of the Oil and Gas Law
- Industry overview
- Oil and gas terminology
- Key issues in international oil and gas projects
- Role of host government
- Ownership and exploitation of reserves
- Host country’s legal and regulatory framework and fiscal regime; stabilisation
- Overview of international oil and gas contracts and key issues
- Negotiation framework and strategy; objectives of host countries/NOCs and IOCs
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Host Government 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
- Analysis of PSCs: main features, key issues from perspectives of host governments/NOCs and IOCs, and principal non-fiscal terms (work programs, management and control, relinquishments, local content, domestic supply, assignments)
- Economics of PSCs and other E&P agreements: fiscal regime and valuation issues (DCF vs. other valuation techniques) (participants will engage in negotiation exercises with financial modelling)
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Host Government Rights and Obligations
- Political risks, Sovereign immunity
- Land – licensing, leasing
- Convertibility of currency and exchange rates
- HSSE regulations
- Assistance, consents
- Local content requirements
- Applicable laws
- Disputes-forum and enforcement
- Host government t petroleum regimes
- HSSE risks
- Anti-corruption regulations
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Commercial Terms in Licensing and Concession Agreements
- Fiscal arrangements, licence fees
- Royalties, the R factor
- Taxation
- Bonuses, Penalties
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Upstream Joint Ventures (JVs) between Host Governments/NOCs and IOCs
- Incorporated vs. unincorporated JVs
- Host Government/NOC participation
- Benefits and risks of JVs
- Principal terms and drafting issues in Joint Operating Agreements (AIPN model) for unincorporated JVs and Joint Venture/Shareholders Agreements for incorporated JVs (rights and obligations of an operator and non-operating parties, management and control, access to data, transfer of technology, exclusive operations, disposal of production, abandonment, secondment, unitization, liabilities, allocation of costs, accounting)
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Offshore Rig Hire Agreements
- Rights and obligations of the parties
- Assignments
- The rig market
- What the oil companies provide
- Two main commercial risks associated with rig hire
- The Rig Hire Contract
- The IADC Form
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Midstream and Downstream Operations
- Access to market, pipelines, transportation
- Refining, trading, distribution
- Principal contractual arrangements and key issues
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Drafting Agreements for Offshore Design, Engineering and Construction Work including EPC Contracts (Engineer Procure Construct)
- Basic features of an EPC contract
- Key oil and gas specific clauses
- Key performance clauses
- Liquidated damages
- Performance guarantees
- Key general clauses
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Exclusion Clauses in the Offshore Industry
- Drafting clauses to withstand judicial scrutiny
- Example clauses
- The default legal position
- Indemnity clauses
- Tortuous liability
- The Contra Preferendum Rule & Construction of the contract
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Termination of Oil and Gas Contracts
- Right to terminate under the contract
- Right to terminate under applicable law
- Consequences of termination
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Dispute Resolution and Other Special Considerations
- Current issues and trends
- Anti-corruption and other compliance issues
- Dispute resolution mechanisms in oil and gas matters
- Choice of method (mediation, arbitration, litigation, expert determination)
- Investment Protections
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Source: Brickfields Asia College
