Negotiating, Drafting & Understanding Contracts

This highly interactive Negotiating, Drafting and Understanding Contracts training course considers how the organisation can identify and understand the fundamentals of international contracts, especially in the oil & gas sector, along with negotiation techniques and strategies that work in international and multicultural settings.

The delegates will learn how to effectively negotiate in concert with counsel and get the terms negotiated incorporated into an enforceable international oil & gas agreement. The hands-on practical exercises will give you an understanding of the art of negotiations.

Thus, it is specifically designed for professionals involved internationally in the oil & gas industry. It offers a unique opportunity to rapidly increase your understanding of the legal issues involved in various international scenarios and improve your techniques and skills in drafting and managing various international contracts.

This training will equip the delegates with the components of 'the deal', timing, strategies for gaining the upper hand in negotiations, games opponents play, good vs bad negotiations, and positional bargaining pitfalls. After attending this course, the delegates will be better equipped to negotiate profitably with international companies and governments to enforce agreements containing terms and conditions most productive for their company. 

Day One: Legal Contractual Framework And Oil & Gas Project Management Strategies With Best Practices

• Mandatory elements of a legally enforceable contract    

• Contract Formation, Remedies, and Damages

• International Oil & Gas Industry and its Key Players

• Elements of Procurement Best Practices

• Types of Procurement Strategy

• Risk Management Process

• Balancing Risk Through Contract Strategy

Day Two: Fundamentals Of Oil & Gas Contracts & Developing Tenders And Specifications

• Nature of Ownership in Oil & Gas: The Law of the Sea and Sovereignty over Natural Resources

• Developments of Contractual and Fiscal Arrangements in the Oil & Gas sector

• Structure Used in Regulating the Oil & Gas Industry

• Infrastructure development, Boundary disputes & Host country legislation

• Characteristics of Oil & Gas Contracts

• Commercial realities of the Oil & Gas Business 

• Drafts and Drafting: Fundamental Legal Principles

• A-Z Process of a Tender Project: An Overview

• Developing the Scope of Work and Specification

• Selection and Evaluation Criteria

Day Three: The Essentials Of Negotiation & Agreement With Resource Holders & Manage Risks & Resources

• The Essentials of Negotiation

• Types of Negotiation & Issues to be negotiated

• Style, Strategy, and Tactics

• Persuasion: The role of argument

• Risk Management Process & Model

• Identifying Potential Risk Events Typical in an Oil & Gas Project

• Drafting Enforceable Liquidated Damage Clauses

• Handling Consequential Damage Waivers

• Service Agreements

• Concessions/Licensing

• Agreements Between Co-Ventures: Joint Operating Agreement (JOA)

• Unit Operating Agreements (UOA)

Day Four: Production Sharing Contracts Negotiations & Agreements With Suppliers And Contractors

• Production Sharing Contracts (PSC)

• Key characteristics of production sharing contracts

• Agreements with Suppliers and Contractors

• Standardisation of Contracts

• International Service Contracts

• LOGIC Standard Contracts (Model Contracts)

• Review of the key LOGIC Contractual Provisions

• Understand the purpose and risks this clause is intended to mitigate

• Avoiding common force majeure pitfalls

• Protect yourself from abuse and misuse of this clause

• Effective Claims Management

• Contractor Insurance Strategies & Contractual Indemnity

• Professional Indemnity Insurance: Principle, Mechanism, Actual Market Requirement etc.

• Strict Liability, Pre-Existing Conditions, Arising out of, Legal Fees, Invitees, Punitive Damages

Day Five: Dispute Resolution & International Arbitration Option In Oil & Gas Contracts

• Dispute resolution in Oil & Gas Business

• Preventing costly litigation through effective use of ADR option

• Types of dispute resolution vehicles

• Assessing Litigation vs Arbitration Options

• Considerations for selecting effective mediators and Arbitrators

• Selecting arbitration and mediation rules of procedure

• Drafting effective dispute resolution clause