Contracts in Oil and Gas Industry

By the end of this course, participants will be able to:

- Understand the structure and function of various types of contracts used across the oil and gas industry, including concessions, licenses, sales agreements, and service contracts.
- Apply the principles of petroleum law to real-world contracting scenarios, ensuring legal and regulatory compliance.
- Develop and manage the scope of work effectively, from procurement planning to supplier qualification and contract execution.
- Identify and mitigate risks associated with multi-party arrangements, supply chains, and contractor performance.
- Interpret key contract clauses such as pricing, payment, force majeure, termination, and indemnities, and apply them strategically.
- Evaluate financial provisions including liabilities, penalties, guarantees, and warranties to protect company interests.
- Navigate dispute resolution mechanisms, including negotiation, arbitration, and litigation, to resolve conflicts efficiently.
- Implement corporate governance and internal controls to detect and prevent fraud, bribery, and corruption in contractual dealings.
- Use performance metrics like KPIs and SLAs to ensure accountability and track contract fulfillment.
- Engage in informed contract negotiations, applying best practices to reach fair, enforceable, and mutually beneficial agreements.