Overview

The ‘Upstream’ or Exploration and Production (E&P) segment of the International Oil and Gas Industry, is in all probability, the riskiest in terms of capital intensity, long payback periods; technological dependence and a host of legal/environmental compliance requirements. It is commonplace for entities seeking hydrocarbon reserves to offset this risk exposure through collective entities such as Joint Ventures. This course has been specifically designed to provide the delegate with a holistic understanding not only of drilling contracts, but to understand them within the wider context of the larger governing framework of which they are a part in terms of hydrocarbon discovery and extraction. The course is an immersive experience and the focus is on open dialogue throughout and class exercises/problem solving and knowledge sharing.

Who Should Attend

• People involved in Contract Management and Administration of Drilling Contract during project execution
• People involved in Negotiation of Drilling Contract

Job Titles Include:

• Contract Lawyers & Attorneys—Rig/Drilling
  
• Contract Executives & Managers—Rig/Drilling
  
• Contract Negotiators—Rig/Drilling
  
• Contract Managers/Administrators
  
• Rig Procurement Managers
  
• Drilling Contractor Marketing Personnel
  
• Project, Operations, and Rig Managers
  
• Accounting and Operational Personnel
  
• Business Unit Heads with responsibility for Rig Selection and Management of Drilling Operations

Key Learning Objectives

• Understand some of the key issues that must be incorporated into a statement of requirements when tendering for a drilling contractor
  
• Grasp the basic different forms of drilling contracts
  
• Become familiar with the key contractual elements of a drilling contract
  
• Be able to discern both the advantages and disadvantages that stem from being involved within a JV
• Know what a JOA is and what it does
  
• Understand what a Joint Operating Committee (JOC) is and what it does
  
• Grasp the essentials of stakeholder management and why this is important to commercial contracts
  
• Become aware of the differing formats and mechanisms that can be used to resolve disputes
  
• Have awareness of some of the different abandonment securities that exist/are imposed in different jurisdictions

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