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Contractual Framework of Exploration & Production

3 days EAM/CFEP
Level
Foundation
Audience
  • Professionals from the E&P sector and managers who need a practical understanding of all the concepts, principles and rules of Oil & Gas patrimonial contracts between host countries and international oil companies.
Purpose
  • To provide participants with an good understanding of the shape and dynamics of Oil & Gas Exploration-Production contracts.
Learning Objectives
  • Upon completion of the course, participants will be able to:
  • identify the key issues and constraints in the contractual negotiations between host countries, NOCs and IOCs,
  • categorize the different tax systems and contractual frameworks in existence,
  • identify the main contractual and fiscal clauses of E&P contracts.
Prerequisite
  • No prerequisites for this course.
Ways and means
  • Comparative reading on a HC law and a E&P contract.
  • Exercises on rent sharing.
  • Examples of petroleum laws & fiscal regimes around the world.

LEGAL FRAMEWORK 0.5 day
  • Objectives of actors, role of national oil companies, stakes in E&P.
  • Principles of rent sharing, property of hydrocarbons and State sovereignty.
  • Procedure for contracts awarding, different regimes and petroleum laws in the world.
  • Legal approach of petroleum law conception and implementation.
CONTRACTUAL & FISCAL FRAMEWORK 1 day
  • Main evolutions in contractual relationships.
  • Concessions contracts: principles, State's revenues, examples of tax regimes and case studies.
  • Production-sharing contracts: principles, examples, of tax regimes and case studies.
  • Risk-service contracts, buy-back contracts and technical assistance contracts.
  • Fiscal and non-fiscal constraints.
  • Objectives of a flexible and progressive tax system.
  • Exercise: comparison of concession and production sharing contracts.
  • Case study: comparative reading between a HC law and an E&P contract.
MAIN ARTICLES OF E&P CONTRACTS 1 day
  • General structure of patrimonial contracts.
  • Exploration phase: duration, commitments, surrender, data and information, etc.
  • Appraisal phase: work program, gas provisions, commerciality, etc.
  • Development phase: financing, State participation, budgets and development plans, unitization, etc.
  • Production phase: work conduct and supervision, audit and accounting, financing, taxation, transportation and marketing of production, hydrocarbon price determination, etc.
  • General terms & conditions: title transfer, sole risk, force majeure, local content, environmental protection, governing law and dispute resolution.
  • Conclusion: recent trends in oil taxation and patrimonial contracts.
JOINT OPERATING AGREEMENTS 0.5 day
  • Main legal provisions in a Joint Operating Agreements (JOA).
  • Other agreements: JSBA (Joint Study & Bidding Agreement), unitization, farm-in/farm-out.
2017 course calendar
Language Dates Location Tuition Register
May 16 - 18 Rueil €2,350 Online
Oct 10 - 12 Rueil €2,350 Online