The Upstream Oil and Gas Contracts Training Course from Imperial Corporate Training Institute is aimed at those working in industries where exploration and production activities involve high levels of risk that lead to commercial decisions, governance under contractual structures, and operational risk percolating through every corporate outcome. In the upstream sector, contracts are never just a formality. Rather, contracts are key determining factors affecting long-term asset value, relationship dynamics between joint venture partners, standards of compliance, and individual states & governments. This is a corporate-centric course that provides insight into how upstream agreements affect organisational strategy, financial exposure, and operational performance in a competitive global oil and gas space.
The course scrutinizes the real-world structure of upstream contracts, including licensing sanctioned terms, production sharing agreements, joint operating agreements, and service contracts established and used in multijurisdictional multi-national projects. Participants will learn key aspects of a strategic approach to the negotiation space, acts and obligations arising from contracts, allocation of liability, regimes, taxation, and dispute management tools. With this training, participants will learn how to manage and operate around complex regulatory and other commercial ecosystems, track and improve performance around contractual terms, and facilitate corporate decision-making on risk managed decision-making at a senior authority level.
Objectives
The primary objectives of this training course are:
- Understand the commercial objectives, framework, and lifecycle of upstream oil and gas contracts.
- Consider the fiscal regime, licensing systems, and tendering requirements in regards to exploration and production, including full understanding of the impact of regulations.
- Develop the capacity to evaluate Production Sharing Contracts (PSCs), Concession Agreements, and Joint Operating Agreements (JOAs).
- Work to improve negotiation skills in the context of corporate upstream contracting.
- Understand the impact of contractual clauses such as cost recovery, financial commitments, operational rights, and corporate obligations.
- Recognize risk-reduction mechanisms including indemnities, warranties, and dispute-resolution clauses.
- Enhance decision-making regarding procurement, joint ventures, and coordination with multiple parties on projects.
- Implement commercially and legally informed approaches to upstream contracting case studies.
- Strengthen understanding of corporate governance around contracting in international development.
- Strengthen collaboration and alignment between technical teams, legal advisors, and finance departments, driven by contracts.
Target Audience
- Contract Managers and Contract Administrators in upstream operations
- Commercial Managers and Corporate Strategy Professionals
- Business Development Executives and Asset Managers
- Legal Advisors, In-house Counsel, and Compliance Specialists
- Procurement and Supply Chain Managers in exploration and production
- Joint Venture Managers and Partnership Coordinators
- Finance Managers dealing with fiscal terms, cost recovery, and CAPEX planning
- Project Managers and Operations Leaders involved in drilling, exploration, and field development
- Government representatives and regulatory officers overseeing upstream licensing
- Anyone working in the corporate oil and gas sector responsible for negotiation, governance, or contract implementation