The accelerated pace of change in the oil and gas industry makes this one of the world’s most challenging and complex sectors in which to understand, draft and negotiate contracts.
This intense oil & gas industry training course focuses on understanding and drafting contracts related to this complex industry. It will serve as either an in-depth introduction for newcomers or a useful update/refresher for those with some experience in the industry.
Why you should attend
By attending this one-day training course you will:
- Gain knowledge of agreements that are in common use in the upstream oil and gas industry
- Learn about joint operating agreements and alliances
- Understand how to draft agreements for offshore design, engineering and construction work
- Master the complex wording around force majeure and frustration and its implications
- Get to grips with how best to deal with disputes in oil and gas contracts
- Understand the differences between law and jurisdiction
Certification:
- CPD: 6 hours for your records
- Certificate of completion
Course Content
Introduction
Essentials of contract law
- Contracts and Torts
- Nature of contract law - liability is strict unlike in Tort
- Certainty more important than fairness
- Understand what you sign
- Fundamental breach -v- breach of fundamental obligations
Two kinds of energy contract
- Investor contracts: joint ventures and production-sharing agreements
- Construction and service contracts
- Confidentiality and non-disclosure agreements
- Exclusivity agreements
Joint operating agreements and alliances
- Relationship between the parties
- Scope
- Interest of the parties
- The role of the Operator
- Rights and duties of the Non-Operator
- Risk allocation within JOA
- Penalties for default
Drafting agreements for offshore design, engineering and construction work
- Including EPC contracts (engineer procure construct)
- Basic features of an EPC contract
- Key oil and gas specific clauses
- Key performance clauses
- Performance guarantees & liquidated damages
Frustration and Force Majeure in the energy business
- Dealing with the unexpected - covid, wars, price rises etc
- Frustration is the common law doctrine but is very narrow so consider using FM clauses to increase your ability not to be bound by unexpected events
- Wording is very important
Dealing with disputes in oil and gas contracts
- Choice of method
- Litigation
- Arbitration
- Mediation
- Expert determinations
Choice of jurisdiction
- Contracts can be governed by the law and jurisdiction chosen by the parties
- Difference between law and jurisdiction
- Why English Law is the preferred jurisdiction for global commerce, including energy
Final questions
Course Provider
Scott Styles,
University of Aberdeen Law SchoolScott C. Styles is senior lecturer at the University of Aberdeen Law School. He is Assistant Editor of Daintith and Willoughby, the leading book on UK oil and gas law. He has many years experience of teaching and researching oil and gas law, with a particular focus on regulatory matters and contracting.
Who Should Attend
- In-house lawyers
- Procurement managers
- Contract managers
- Contract analysts
- Contract engineers
- Contractors and sub-contractors
Including those new to the industry and those looking for a refresher course.
