Course Description
With the highly competitive character of today’s global oil market, the conception of business models and negotiating points for the major agreement in this field are undeniably crucial. This course aims to enhance the auditors’ capabilities to function in the role of either negotiator, legal or commercial advisor and draftsman in the oil industries.
Course Objectives
- Understanding globally the oil industries profiles and market structures across the world
- Familiarizing with the key terms and clauses of the oil industries contracts
- Learning how to achieve company’s objectives through strategic negotiations skills
- Gaining the required capabilities to operate all the step of the documentation’s process
- Negotiating the terms and conditions of oil industry transactions’ contracts successfully
- Familiarizing with strategies to manage risks due to arising difficulties in negotiations and methods to solve them effectively
Who Should Attend?
- Oil/gas contract negotiators
- Commercial executives
- Managers and lawyers
- Contracts executives, specialists and managers
- Senior government officials and regulators
Course Details/Schedule
- Introduction and types of oil industry transactions
- Technical aspects of oil industries
- Economics and laws
- Negotiation skills: styles, roles, tools techniques
- Oil industry’s market structure and regulatory issues
- Basic principles and their construction – operational commercial and legal basis for long term contracts
- International examples of oil industry sale and purchase agreement
- Background to long term oil industry contracts
- Contracts terminologies and their interdependence
- Lawyer’s role and good faith negotiation
- Cross cultural issues in the negotiation process
- Overview of nowadays global oil industry trade worldwide
- Basic requirements
- Resource and farm-out agreement
- Service and supply contracts
- Lifting and oil transportation agreements
- Introduction to documentation
- Contract structure and drafting style
- Balancing contract and internet drafting
- Document management and contract execution
