A partner of excellencefor oil and gas professional development

Production Sharing & Joint Operating Agreements

3 days EAM/PSA
  • Exploration and production professionals, legal personnel entering the E&P scene, service companies managers and government employees
  • To provide participants with an in-depth understanding of the concepts and mechanisms of Production Sharing and Joint Operating Agreement
Learning Objectives
  • Upon completion of the course, participants will be able:
  • to identify the main concepts, principles and rules of a Production Sharing Agreement which contractually binds petroleum companies with a ministry and/or a state oil company
  • to evaluate the management of Petroleum Exploration and Production partnerships to successfully find and produce hydrocarbons
  • to discuss the practical aspect of contracts: identifying key issues, understanding constraints and deadlines, getting familiar with the document
Ways and means
  • Case studies
  • Exercises on Production Sharing Contracts
  • Analysis of Joint Operating Agreements
  • Examples of petroleum laws & fiscal regimes around the world (North West Europe, North Africa, West Africa, Middle East, Asia-Pacific, etc.)

Production Sharing Agreements (PSA) 2 days
  • Introduction:
  • origins, concept and scope of the PSA
  • comparison of PSA to other contracts
  • contents and structure of a typical PSA
  • PSA mechanisms:
  • cost oil, profit oil split, “Government Take”
  • bonuses, first tranche petroleum, tax holiday, cost recovery ceilings, uplifts, investment credits, government “back-in”
  • typical PSA cash flow forecast chart
  • Case studies: Reviewing the main clauses of a selected Production sharing Contract (PSC)
Joint Operating Agreements (JOA) 1 day
  • Introduction:
  • the purpose of the joint ventures and use of a JOA
  • the relationship of the JOA to other oil industry contracts
  • structure of a JOA, definitions and terminologies
  • The operator: appointment, rights and duties, liabilities, responsibilities, resignation, removal
  • The partners:
  • rights and duties, liabilities, responsibilities
  • the operating committee and sub committees
  • establishment, powers and duties, notices, voting procedures, impact of voting, pass-mark
  • Case studies: Reviewing the main clauses of a selected Joint Operating Agreement (JOA)
2016 course calendar
Language Dates Location Tuition Register
Oct 25 - 27 Rueil €2,360 Online