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Contractual Framework of Exploration & Production

Contractual Framework of Exploration & Production

3 days
This course is not scheduled.
Who should attend?


    • 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.


  • Foundation
  • To provide participants with a 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.
Course Content


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.


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.


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.


0.5 day

  • Main legal provisions in a Joint Operating Agreements (JOA).
  • Other agreements: JSBA (Joint Study & Bidding Agreement), unitization, farm-in/farm-out.
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Ways & 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.