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International Oil & Gas Commercial Contracts Training Course

A state-of-the-art introduction to key commercial factors and negotiation strategies

Please call Jeff Hearn for more info on +44(0)20 7017 7193 or email him at [email protected]

London, UK, Venue TBC

Agenda Summary (access the full agenda to International Oil & Gas Commercial Contracts here)

  • Overview/Introduction
  • Geopolitics & Commercial Contracts
  • Key Components of a Commercial Contract
  • Getting to Grips with Contract Negotiation
  • Government & Regulatory Policy
  • Production Sharing Agreements
  • Joint Operating Agreements
  • Joint Ventures in the International Oil & Gas Industry
  • Unitisation
  • ‘Farm In’ & ‘Farm Out’ Agreements
  • Decommissioning
  • Gas Sales Agreements
  • Corporate Social Responsibility
  • Dispute Resolution Methodologies



  1. Delegates will split into groups representing an IOC and an NOC respectively. They will negotiate within a hypothetical scenario that will progress in stages throughout the course. In this initial component the parties will begin to plan their agendas; goals and objectives for the negotiations that lay ahead
  2. In this part of the exercise another IOC will appear bidding for a production sharing contract against the original IOC, with the group representing the NOC. As this is the first round of negotiations concerning the recovery of the potential hydrocarbon resources of our hypothetical country, parties are going to have to review and implement their initial negotiation strategies
  3. This next stage in our unfolding scenario is dependent upon choices made by parties in the opening rounds of negotiation in Part 2 of the exercise – information to be supplied in class
  4. In this part of the group exercise, teams will examine the possibilities of making either ‘farm out’ or ‘farm in’ agreements with other asset holders (other teams). Information to be supplied in class
  5. Teams will consider how to deal with the end of life issue of decommissioning. Teams will generate and evaluate options for decommissioning, assess the stakeholders in the supply chain and attempt to formulate sensible strategies and contracts for coherent scenarios to achieve successful close out

Case Studies

  • ‘Idle Iron’ legislation (GOM)
  • Shell Brent Spa