COURSE: International Oil and Gas Contracts
PROGRAMME
Legislative Regime
Structure of Petroleum Legislation
- Constitution
- Tier One: Petroleum Law
- Tier Two: Petroleum Regulations/Ministerial decrees
- Tier Three: Ministerial decisions
- Other legislation
Principal Provisions of Petroleum Legislation
- Definition of petroleum
- Ownership of petroleum in situ
Framework: Petroleum Authorisation Regime
- Types of petroleum authorisation
- License
- Contract of work
- Types of contract of work
- Principal difference between exclusive license and risk contract
- Combined features of exclusive license and risk contract
Petroleum Field Life Cycle
- Overview of operations
- Phases
- Gaining access
- Exploration
- Appraisal
- Development
- Production
- Decommissioning
- Post-decommissioning
Framework: The Contract Matrix
- Introductory observations about contracts
Confidentiality Agreements
- Common law duty of confidence
- Minera Aquiline Agentina v IMA Exploration
- Defining confidential information
- Restrictions on use
- Exemptions
- Affiliates
- Return and/or destruction of information
- Non-circumvention
- Specific Confidentiality Agreement provisions/issues
Area of Mutual Interest Agreements
- Objective
- Specific Area of Mutual Interest Agreement provisions/issues
Joint Bidding Agreements
- Purpose
- Specific Joint Bidding Agreement provisions/issues
Petroleum Authorizations
- Standard form
- Impact on Joint Operating Agreement
- Participating interest of the contract parties
- Sequence of events
- Scope
- Term
- Relinquishment
- Minimum work obligations
- Work Programmes & Budgets
- Contractor’s obligations
- Monitoring & reporting
- Notification of discovery
- Assessing a discovery, declaration of commerciality & development approval
- Fiscal regime
- Bonuses
- Other set costs and fees
- ‘Market Price’
-Exchange & remittance
-Employees - Natural gas
- Import/export
- Book-keeping, accounts & records
- State back-in rights
- Assignment
- Liability & insurance
- Termination
- Confidentiality
- Public announcements
- Applicable law
- Dispute resolution
- Force majeure
- Stabilization clauses
Joint Operating Agreements
- Introduction
- Terminology
- Rules of law governing relationship
- Form of Joint Operating Agreement
- Scope
- Interests of the Participants
- Relationships of the Participants
- Operator & selection of the Operator
- Role of the State
- Duties of the Operator
- Liability of the Operator to Non-Operators
- Relationship between the Operator & Non-Operators
- Rights of the Participants
- Operating Committee
- Work Programmes & Budgets
- Sole risk & non-consent operations
- Assignment
- Encumbrances
- Default
- Force majeure
- Duration and termination
- Publicity
- Dispute resolution
Unitisation Agreements
- Petroleum in situ
- Rule of Capture
- Introduction to unitisation
- Legal and contractual framework
- Method of unitization
- Unit area
- Determination of tract and unit interests
- Redetermination
- The Operator
- Decision making
- Non-unit operations
- Default
- Termination
- Assignment and Transfer
- Withdrawal
Drilling contracts
- Typical scenario, identity rig & area of operation
- Commencement & term
- Contractor’s general obligations
- Operator’s obligations
- Contractor’s equipment
- Operator’s equipment
- Contractor’s personnel
- Offshore transport
- Rates
- Liability & indemnity
- Environmental, health & safety
- Assignment
- Sub-contract
- Termination
- Taxes, duties & levies
Farm-Out Agreementst
- Pre-emption
- Consents
- Effective date
- Consideration
- Percentage interest acquired
- Interest acquired
- Transfer
- Representations & warranties
- Default
Sale of Interest Agreements
- Types of interest
- Assumption of liabilities
- Dates
- Conditions precedent
- Consideration
- Completion mechanics
- Failure to complete
- Material adverse change
- Adjustments
- Representations & warranties
- Carried Interest Agreements
- Overriding Royalty Interest Agreements
- Net Profit Interest Agreements
Crude Oil Sale Agreements
- Long term, short term, spot & forward/future contracts
- Free on Board (FOB) contracts
- Cost, Insurance & Freight (CIF) contracts
- Price
- Pricing formulae
- Bills of lading
- Quantity
- Quality
- Delivery
- Measuring and testing
- Passing of risk and title
- Invoicing and payment
- Laytime and demurrage
- Telephone, telefax and email contracts
- Letter of Credit
Decommissioning or Abandonment and Restoration Agreements
INTRODUCTION LECTURER REGISTER NOW