An Interactive 5-Day Training Course
Joint Venture and Other Collaboration Agreement for the Oil & Gas Industry
Working in Partnership, Joint Venture and Production Sharing Contract
Course Overview
A Production Sharing Contract (PSC) is used in key oil and gas producing countries, each of these have different approaches and levels of complexity. These complex agreements include a number of clauses that have particular legal interpretation and accompanying fiscal formulas. Therefore, it is crucial to have the correct understanding of the terms in order to calculate the formulas correctly and ensure a smooth agreement implementation.
During this training, delegates will acquire a clear understanding of the fundamentals Production Sharing Contracts (PSCs), along with Joint Operating Agreements (JOAs) negotiation techniques and strategies that work in international and multicultural settings. Delegates will also master how to effectively negotiate in concert with counsel and how to get the terms negotiated incorporated into an enforceable agreement.
The training course is specifically designed for professionals involved nationally and internationally in the oil and gas industry, it offers a unique opportunity to rapidly increase your understanding of the legal issues involved in Production Sharing Contracts (PSCs) and Joint Operating Agreements (JOAs) to in various international scenarios and to improve your techniques and skills in drafting a variety of related contracts.
This GLOMACS training seminar will highlight:
- Evolution of the Production Sharing Contracts (PSCs), Service Agreements and concessionary systems
- Joint Operation Agreements (JOAs)
- Comparisons of model Production Sharing Contracts (PSCs) in various countries
- Negotiation techniques and the role of counsel
- Explanation and analysis of key provisions to make the Production Sharing Contract (PSC) work
Training Objectives
By end of this training seminars, delegates will:
- Understand the evolution of the Production Sharing Contracts (PSCs), Joint Operation Agreements (JOAs), and Service Agreements
- Learn the negotiation techniques and the role of counsel
- Differentiate the comparisons of model Production Sharing Contracts (PSCs), in various countries
- Identify and analyse the key provisions to make the Production Sharing Contract (PSC), work
- Know the Production Sharing Contracts (PSCs), arrangements within the host government contracts’ framework
- Avoid commonly occurring causes of disputes and to gain knowledge on International Dispute Resolution Framework and Institutions: how to negotiate arbitration clauses
- Understand the common problems and pitfalls in negotiating Production Sharing Contracts (PSCs)
Who should Attend?
This GLOMACS training course is beneficial for operator and contractor professionals involved in Production Sharing Contract (PSC) and Joint Operation Agreement (JOA) negotiation and administration, including:
- Contracts Managers and Administrators in the Oil and Gas sector looking to improve their drafting and negotiation skills with particular emphasis on the risk assessment clauses
- Legal Practitioners looking to increase their Oil and Gas Contacts Law knowledge and how to avoid common contractual pitfalls
- Geologists and Engineers who seek practical understanding of the legal aspect surrounding contracts
- Academics / Students looking to increase or specialise in the area of Oil and Gas Law
- Insurance and Risk Managers looking to reduce the legal and contracts risks for their companies
- Government Departments, Policy Makers and Regulators
About Saudi Glomacs
At Saudi GLOMACS, we specialize in delivering world-class training courses in Saudi Arabia and across various international locations. Our training courses are tailored to meet the unique demands of Saudi Vision 2030 and the Human Capability Development Program, focusing on empowering Saudi citizens and enhancing workforce skills. We offer diverse courses spanning leadership, management, engineering, and technical disciplines to cultivate expertise and drive professional growth. Our flexible learning options—whether in-person, online, or in-house—ensure accessibility and convenience for individuals and organizations alike.
With over 30+ years of experience through the GLOMACS global network, we are committed to delivering innovative, results-driven training solutions. Our expert instructors combine industry knowledge with dynamic teaching methods, fostering practical skill development and long-term career success. By choosing Saudi GLOMACS, you're investing in personal excellence and contributing to the Kingdom’s sustainable economic growth and vision-driven transformation.
Training Outline
DAY 1: Introduction to Upstream Agreements & Production Sharing Contracts (PSCs)
- The Legal Framework and Contract Law II
- Contract Law II
- Oil and Gas Contracts Fundamentals and Legal Principles
- Agreement with Resource Holders
- An Introduction to Production Sharing Contract (PSCs)
DAY 2: Agreements Between Co-Ventures
- Agreement with Resource Holders (I)
- Leases
- Service Agreements
- Concessions / Licensing
- Example from Three International Jurisdictions
- Agreements between Co-Ventures
- International model form Confidentiality Agreement (CA)
- AMI’s and Bidding Agreements
- Joint Operating Agreements (JOA)
- Standard Model form International Operating Agreement
- Drafting Issues
- Unit Operating Agreement / Unitization: What is it? Why do it?
DAY 3: Production Sharing Contract (PSC) Structure
- Key Characteristics of Production Sharing Contract (PSC)
- The Subject of a Production Sharing Contract (PSC)
- The State as a Party to a Production Sharing Contract (PSC)
- The Exploration Activity of an Investor is at its Own Expense and Risk
- Ownership of Production Produced under a PSC and the Contractor Nature of an Investor under a Production Sharing Contract (PSC)
- The Sharing of Product: Substance and Procedure
- PSC Sample, Content and Format
- Drafting Issues & Workshop
DAY 4: Minimizing Loss Through Careful Limitation of Liability Clauses
- Drafting Enforceable Liquidated Damage Clauses
- Handling Consequential Damage Waivers
- Mitigation of Damages Clause
- Contractual Limitations Periods
- Transferring Risk by Contractual Indemnity
- Negligence
- Strict Liability
- Pre-Existing Conditions
- Managing Risk through Adequate Insurance Provisions
- Insurance Subordination Issues
- Effective Claims Management
DAY 5: Preventing Costly Litigation through Effective Use of Alternative Dispute Resolution Options
- Avoiding Common Contract Pitfalls
- Types of Dispute Resolution Vehicles
- Assessing Litigation vs. Arbitration Options
- Mediation Considerations
- Considerations for Selecting Effective Mediators and Arbitrators
- Selecting Arbitration and Mediation Rules of Procedure
- Drafting Effective Dispute Resolution Clause
Certificates
- On successful completion of this training course, GLOMACS Certificate will be awarded to the delegates
- Continuing Professional Education credits (CPE) : In accordance with the standards of the National Registry of CPE Sponsor, one CPE credit is granted per 50 minutes of attendance
Accreditation
GLOMACS is registered with NASBA as a sponsor of Continuing Professional Education (CPE) on the National Registry of CPE Sponsors. NASBA have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.learningmarket.org.
All Training Seminars delivered by GLOMACS by default are eligible for CPE Credit.
Providers and Associations
Sessions in international locations
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