Course Overview

This interactive course will cover all the aspects and form the basis of binding obligations within the oil and gas industry. Active participation from the delegates are expected to provide insight on how the world's leading oil and gas companies are handling their contracting challenges, the approach that best practice corporations are implementing and the way this affects the contract professionals.

Using a combination of lectures, visuals, class discussions and real-life case studies, this course will present a logical and systematic approach to effective contract risk management.

Who Should Attend

Senior executives from the oil and gas industry, including:

• Exploration & Production Managers
• Exploration & Production Managers
• Upstream Oil & Gas Managers/Engineers
• Offshore Oil & Gas Managers
• Geology & Geophysics Professionals
• Legal Counsels
• Contract Managers
• Government Officials
• Energy Economists & Planners
• Banks

Topic Covered Include

Topic 1: Contract Risks in the Oil and Gas Industry

• Assess how the risks have been changed by the current oil price and the challenges in the economy;
• Are your contracts prepared for the market risks?
• Commercial contracting trends in the oil and gas industry;
• Are your contracts current? Initiate a contract review process
• Exercise: Managing a Risk Portfolio through Multiple Contracts

Topic 2: Key Contract Provisions

• Re-assessing indemnity and warranty clauses;
• Why is the knock-for-knock provision so relevant in the oil and gas industry?
• Considering alternative pricing clauses;
• Assess the limitation of liabilities provision; what are the considerations?
• Boiler plate clauses; something that need your attention in the finalization of the contract;
• Exercise: Review of Five Key Clauses as discussed previously

Topic 3: Contract Disputes

• Determine the best course of action through applied risk assessment;
• Consider your termination rights and the consequences for your operations;
• Look for alternatives in penalty clauses and rights of release clauses;
• Enforcing clear language in unclear circumstances;
• Exercise: Resolving a potential dispute due to delay in major construction contract

Topic 4: Contract Negotiation Considerations

• Can oil and gas enterprises renegotiate rates on the basis of the current market chaos?
• Cost analysis models in contract negotiations – certain sector issues and opportunities;
• Understand where the balance of power lies between several contracting parties;
• Exercise: Share your experience, have you gained or lost negotiating power due to recent trends in the oil and gas industry?

Topic 5: Multi-Party Contracting Scenarios

• Joint ventures and joint operating agreements in the oil and gas industry;
• Crude oil lifting agreement or other product sales agreements;
• Sharing facilities or system agreements;
• Exercise: Sharing Facility Agreements

Topic 6: Key International and Cross-Cultural Contracting Issues

• Assess your contracting in a changing international market;
• Key cultural considerations in contracting – from development and drafting to negotiation and relationship management;
• Where does ‘yes’ mean ‘no’, and ‘no’ mean ‘yes’, and other cultural nuances in contracting and negotiations?
• Confronting a contractual breach – cultural considerations;
• Exercise: Transport Contract – Managing Risk on the High Seas

Topic 7: Open Discussion on Existing Oil & Gas Contract (by submission of samples to be reviewed from the participants in advance of the Workshop)

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About The Workshop Leader

Nurul is a Partner at THAMRIN & RAHMAN Law Firm with particular expertise in energy and resources (in particular for oil and gas), project finance, mergers & acquisitions and other general corporate matters. She has extensive experience in leading transactions, negotiations and closing cross-border transactions. She has in-depth regulatory knowledge in her areas of practice and good relationships with several Indonesian authorities. She also has an extensive experience in handling litigation or judicial proceedings, general corporate and corporate finance from leading an in-house legal team of an oil and gas company for a little more than six years.

Prior to joining THAMRIN & REKAN, Nurul was a Junior Partner leading the energy practice in a prominent law firm that has association with the big four auditors. She also has experience in working as lawyer in several other major lawfirms in Jakarta.

Nurul obtained her Law Degree from the University of Indonesia. Nurul is registered advocate at the Indonesian Bar Association (PERADI). She speaks both of English and Indonesian.