Negotiation & Contracts in the Petroleum Upstream

This course is ideal for:

• Contract engineers, commercial officers, and legal advisors in upstream operations
• Exploration & production project managers
• Petroleum economists and business analysts
• JV coordinators and asset managers
• Government representatives involved in PSC oversight
• Anyone responsible for upstream agreements or negotiations

Basic knowledge of legal or commercial operations

Oil & gas industry experience (preferably upstream) is helpful but not mandatory

Overview of Upstream Petroleum Contracting
- Structure of upstream operations (exploration to production)
- Types of upstream agreements and their lifecycle
- Legal frameworks: civil vs common law
- Stakeholder roles: IOCs, NOCs, regulators
Key Contracts in Upstream Oil & Gas
- Production Sharing Contracts (PSC): mechanics and obligations
- Joint Operating Agreements (JOA): governance, cost sharing, decision-making
- Farm-in/out and technical service agreements
- Drilling and rig contracts
Contract Terms, Risks & Drafting Principles
- Key clauses: indemnity, liability, warranties, termination
- Risk allocation and insurance provisions
- Local content and environmental obligations
- Contract drafting best practices
Negotiation in Upstream Petroleum
- Upstream-specific negotiation challenges
- Preparation: interests vs positions
- Strategic vs tactical approaches
- Cross-cultural and multi-party negotiations
- Case scenarios and role-plays
Contract Management & Dispute Resolution
- Managing contract performance and obligations
- Change orders and claim management
- Dispute resolution: ADR, arbitration, ICSID
- International case study simulation & review session