Course Description
The focus of this course is the four phases of commercial negotiations which are positioning, argumentation, emergence of consensus and final agreement or impasse. Oil industry contracts are negotiated within a framework that embodies law, economics and interpersonal skills. In this context, this course sheds light on the primary role of the negotiator in planning, negotiaiting and documenting contracts which are the embodiment of commercial transactions and relationships within the oil industry framework.
Course Objectives
- Acquiring the foundations of contract principles in the international oil industry
- Learning the skills required for successful negotiations to create binding commitments
- Understanding the dynamics of drafting and documentation of international oil industry value chains
Who Should Attend?
- Supervisors
- Practitioners
- Lawyers
- Executives
Course Details/Schedule
- Definition of the concepts and participants
- Legal Framework
- Negotiation Stage
- Industry Terms and Conditions
- Cross-Cultural Negotiations
- Legal Function in Negotiations
- Preperation and Planning
- Negotiation Styles
- Effective Negotiation Tactics
- Economic Indicators
- Profit and Value
- Cash Flow
- Net-Backs
- Finance
- Contract Structure
- Drafting Style
- Balancing Contracts
- Document Management
- Commercial and Legal Structure
- Intergovernmental Agreements
- Sector Agreements
