| Code | Date | Format | Currency | Team of 10 Per Person* |
Team of 7 Per Person* |
Early Bird Fee Per Person |
Normal Fee Per Person |
|---|---|---|---|---|---|---|---|
| PE2360 | 07 - 09 Oct 2026 | Kuala Lumpur, Malaysia | SGD | 3,697 | 3,869 | 4,099 | 4,299 |
| PE2360 | 07 - 09 Oct 2026 | Kuala Lumpur, Malaysia | USD | 2,923 | 3,059 | 3,199 | 3,399 |
*Fee per person in a team of 7 or 10 participating from the same organisation, registering 6 weeks before the course dateRequest for a quote if you have different team sizes, content customisation, alternative dates or course timing requirements Request for in-person classroom training or online (VILT) training format
Learn in teams and save more! Enjoy group discounts of up to 50% off normal fees for team based learning. Contact us on [email protected] to learn more today!
Code
PE2360Date
07 - 09 Oct 2026Format
Kuala Lumpur, MalaysiaCurrency
SGDTeam of 10
Per Person*
3,697
Team of 7
Per Person*
3,869
Early Bird Fee
Per Person
4,099
Normal Fee
Per Person
4,299
Code
PE2360Date
07 - 09 Oct 2026Format
Kuala Lumpur, MalaysiaCurrency
USDTeam of 10
Per Person*
2,923
Team of 7
Per Person*
3,059
Early Bird Fee
Per Person
3,199
Normal Fee
Per Person
3,399
*Fee per person in a team of 7 or 10 participating from the same organisation, registering 6 weeks before the course dateRequest for a quote if you have different team sizes, content customisation, alternative dates or course timing requirements Request for in-person classroom training or online (VILT) training format
About this Training Course
This intensive three-day Oil & Gas Partnerships Mastery programme provides participants with a comprehensive understanding of the contractual, commercial and operational foundations of upstream oil and gas partnerships.
Focusing on Joint Ventures (JV), Joint Operating Agreements (JOA) and Production Sharing Contracts (PSC), the course examines how each structure is set up and how value, risk and control are allocated between the parties across the life of an upstream project — from exploration and appraisal through development, production and eventual decommissioning.
Participants will gain practical insight into key upstream contract terms, including governance and voting arrangements, participating interests and sole-risk provisions, cash calls and funding mechanisms, default and forfeiture remedies, transfer and pre-emption rights, as well as PSC elements such as cost recovery, profit-oil sharing, government take and fiscal-stability protections.
Negotiation and risk management are also a core component of the course, supported by case studies on negotiating playbooks, dispute resolution and operator change requests.
By the end of the course, participants will be able to:
- Understand the key differences between Joint Ventures (JV), Joint Operating Agreements (JOA) and Production Sharing Contracts (PSC)
- Explain how value, risk, control and decision-making are allocated between parties in upstream oil and gas partnerships
- Interpret key contractual provisions covering governance, voting rights, participating interests, sole-risk activities, cash calls and funding obligations
- Understand the commercial implications of default, forfeiture, transfer and pre-emption provisions
- Explain key PSC concepts including cost recovery, profit-oil sharing, government take and fiscal-stability protections
- Identify the main commercial and contractual risks that may arise across the upstream project lifecycle
- Apply practical approaches to negotiation, dispute resolution and operator-related change requests
- Strengthen their ability to work effectively with commercial, legal, finance, technical and joint venture teams on upstream partnership matters
This course is designed for professionals involved in, supporting, or interfacing with upstream oil and gas investments, partnerships, contracts and governance activities.
It is particularly relevant for professionals in:
- Commercial and Business Development
- Legal and Contracts
- Finance and Economics
- Joint Venture and Asset Management
- Project and Investment teams
- Technical and Engineering functions
- Government, regulatory and national oil company roles
The course is also suitable for professionals who already have some commercial, legal, financial or technical exposure to the oil and gas sector and would like to deepen their understanding of upstream commercial structures, contractual frameworks and partnership arrangements.
- Intermediate
This course uses a combination of technical lectures, real-world case studies, interactive discussions, and practical problem-solving exercises to ensure effective knowledge transfer. Participants will explore real drilling scenarios, analyze operational challenges, and apply MPD concepts through structured discussions and simulated exercises. The learning approach emphasizes both theoretical understanding and practical application, allowing participants to connect technical concepts with real operational situations encountered in complex drilling environments.
Unlock the potential of your workforce with customized in-house training programs designed specifically for the energy sector. Our tailored, in-house courses not only enhance employee skills and engagement but also offer significant cost savings by eliminating travel expenses. Invest in your team’s success and achieve specific outcomes aligned with your organization’s goals through our expert training solutions. Request for further information regarding our on-site or in-house training opportunities.
In our ongoing commitment to sustainability and environmental responsibility, we will no longer providing hard copy training materials. Instead, all training content and resources will be delivered in digital format. Inspired by the oil and energy industry’s best practices, we are leveraging on digital technologies to reduce waste, lower our carbon emissions, ensuring our training content is always up-to-date and accessible. Click here to learn more.
Oil and gas partnerships bring two or more parties together to develop upstream projects. Companies may use Joint Ventures, Joint Operating Agreements, and Production Sharing Contracts to structure these relationships. As a result, each party can clearly understand its rights, risks, funding duties, and decision-making authority throughout the project lifecycle.
A Joint Venture defines how companies participate together in an upstream project. Meanwhile, a Joint Operating Agreement sets rules for operators and non-operators, including governance, budgets, cash calls, and liabilities. A Production Sharing Contract focuses on commercial and fiscal terms. For example, these terms may include cost recovery, profit oil, government take, and fiscal stability.
Joint ventures allow companies to share investment costs, project risks, and operational responsibilities. In addition, they provide a structure for joint funding and decision-making. However, partners may disagree over budgets, control, cash calls, or exit rights. Therefore, clear agreements can reduce uncertainty and define each party’s responsibilities.
Upstream partners use contractual mechanisms to allocate project costs and economic returns. Under a JOA, companies may fund activities through cash calls and approved budgets. In contrast, a PSC may allow contractors to recover eligible costs before sharing profit oil. Additionally, PSC terms can address bonuses, government take, ring-fencing, and other fiscal arrangements.
These agreements can create commercial, financial, contractual, and governance risks. For instance, common issues include partner default, funding disputes, operator disagreements, and transfer restrictions. Force majeure and decommissioning obligations can also create challenges. Therefore, strong governance, due diligence, and clear contract terms can help parties manage these risks.
Future upstream agreements increasingly address technology, sustainability, and energy-transition issues. For example, agreements may cover carbon capture, hydrogen, and decommissioning funding. Moreover, JOAs may address AI and data sharing, while new PSCs may include ESG obligations. Industry consolidation may also increase farm-ins, M&A, unitisation, and redetermination activity.
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