International Petroleum Contracts and Negotiation
International Petroleum Contracts and Negotiation
OBJECTIVES
- Understand the role of contract in the procurement process
- Learn how to develop a contract strategy and adopt the appropriate contractual relationship that delivers the project objectives
- Learn how to negotiate better contract outcomes
- Align their risk management plans to Contract Ts and Cs that deliver project objectives
- Develop procurement strategies that aligns with project objectives and deliver better outcome
- Effectively manage contracts to ensure mitigation of risks/losses, minimisation of disputes and effective supplier relationship management
WHO SHOULD ATTEND?
Professionals involved in managing investments in oil and gas ventures: negotiators, lawyers, analysts, contract managers, purchasing & supply chain managers, business development managers, governmental relations executives, officials in state petroleum companies, Federal and State Ministries of Energy, Finance, Agencies & Parastatals, etc.
COURSE OUTLINE
- Overview of Oil Industry Operations
- Nature and Peculiarities of Oil and Gas Contracts
- The Contracting environment
- The Procurement and Project Environment
- The Tender Process
- Contract Negotiations
- Contract Objectives and Key Performance Indicators
- Contract Award, Administration and Management
- Supplier/Contractor Relationship Management
- The Contract Negotiation Framework
- Qualities of a Good Negotiator
- Forms and Types of Negotiations
- Sources of Power in Negotiation
- The Negotiation Schedule
- Techniques of Negotiation
- Culture and Political issues in Negotiation
- Negotiating as a Team (economist, business analyst, procurement specialist, geologist, lawyer etc)
- Negotiation in Practice: Role Plays and Video Demos
- Negotiating Sales Agreements and Service Contracts
- Negotiating JV, PSC, Farm-out/farm-in contracts
- The legal framework of JV, PSC, Farm-out/farm-in, sales agreements, and service contracts
- Negotiating special clauses: indemnity, non-disclosure, force majeure, and dispute resolutions
- Negotiating Gas Sales & Purchase Agreements (GSPAs)
- The Petroleum Industry Bill and Contract Negotiations – Emergent Issues