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About this Virtual Instructor Led Training (VILT)

Nearly half of the world’s petroleum regimes involve some form of production sharing between Contractors and their Host Country. This Virtual Instructor Led Training (VILT) examines the operational, fiscal and legal aspects of the different types of Production Sharing Contracts (PSC) in use around the world.

The Fiscal System of the PSC is analysed using discounted cash-flow model to illustrate the impact on investment criteria such as net present value, internal rate of return and pay-out from changes in factors such as cost recovery, profit sharing, royalty and income tax.

In addition to the provisions within the four-corners of the PSC, the agreements related to the various stages of petroleum operations such as Bidding, Exploration, Development, Production and Decommissioning are examined. They include joint venture operations, drilling and well services and agreements for the sale of crude oil and natural gas. Discussions of these agreements will be illustrated with the use of detailed Checklists.

The final session covers emerging issues that will impact the future of PSC operations such as International Dispute Resolution, transfer of Late Life Assets, Global Climate Change, and International and Bilateral Investment Treaties and Trade Sanctions.

After the completion of this VILT, participants will be able to:

  1. Understand the types of PSCs used by host governments to promote the exploration and development of their petroleum resources.
  2. Discuss and apply economic decision-making criteria that is relevant to petroleum development.
  3. Understand the various types of commercial agreements related to petroleum operations under a PSC.
  4. Develop a strategy for negotiating the terms and conditions of the PSC and related agreements.
  5. Effectively participate in operational decisions concerning emerging issues that affect PSC operations.

This VILT will benefit:

  • Commercial managers in the oil and gas sector looking to improve their contract negotiation skills and overall commercial performance
  • Contract managers for operators or national oil companies
  • Policy makers and regulators in the petroleum sector
  • Legal practitioners looking to specialise in petroleum agreements
  • Insurance and risk managers looking to reduce the legal and contracts risks for their companies
  • Course material will be presented in both a lecture format and a handbook.
  • Each topic begins with a statement of the intended Learning Outcome.
  • Power point slides, which coincide with the text of the handbook, will be used as illustrations for each topic.

These materials will provide participants with a useful resource for future reference. The course leader also encourages questions and feedback from participants during the topical presentations.

Your first course trainer is an international legal expert in petroleum law who is based in Scotland. He received the degrees of Juris Doctor from the University of Wyoming and LLM-Energy Law from the University of Utah. He has been listed in the Guide to the World’s Leading Energy and Natural Resources Lawyers. In over 30 years of practice, he has been chief legal officer in petroleum companies, consultant to development banks and aid programmes, and law professor.
His private sector experience included positions as General Counsel of the Petroleum Corporation of New Zealand and Chief Legal Officer for Sinclair Oil Corporation in the United States. He has been a consultant to the Asian Development Bank, The World Bank and the European Investment Bank on petroleum sector policy, gas sales agreements, and production sharing contracts. This has included assignments in Cambodia, Bangladesh, India, Indonesia, Laos, Pakistan, Papua New Guinea, Philippines and Vietnam. He has been an adviser and trainer on negotiations for various petroleum companies including BP, BG Group, Gazprom, KazMunayGas, Perushaan Gas Negera, Pertamina, PETRONAS, Philippine National Oil Corporation, Total, Shell and Statoil. He was appointed by Economic Community of West African States (ECOWAS) as the lead negotiator on behalf of four West African governments for the West African Gas Pipeline Project. His publications include A Framework for Negotiating and Documenting International Petroleum Transactions and A Framework for Negotiating and Managing Production Sharing Contracts and Related Agreements. His academic work has been published in the Land and Water Law Review, Tulsa Law Journal and Journal of Comparative and International Law.

Your second course trainer previously served as General Counsel for a petroleum and mineral appraisal and consulting firm based in Colorado.
He supports clients in business transactions and finance, particularly in the energy industry, and helps clients navigate international business opportunities. He provides consulting services to foreign government entities working in the petroleum and power sectors. He also supports domestic clients with mineral rights and business law matters. He is licensed to practice law in the
State of Wyoming and the State of Colorado, as well as the Federal District of Wyoming

His previous engagement include:

Petroleum Regulator Organizational Strategy and Management in Bosnia – Legal and regulatory specialist responsible for providing organizational
strategy and management advisory assistance to government entities responsible for petroleum management and regulation, reviewing bid round
documents, concession agreements and legislation affective petroleum management, and providing other legal, regulatory and policy support to the
government. 2019-2020.

Onshore/Offshore Petroleum Regulatory Development in Romania – International legal and regulatory specialist responsible for reviewing petroleum
data management and technical oversight practices, providing input on fiscal analysis and terms, development of offshore regulatory framework, and
providing technical trainings on leading practices in petroleum legal, regulatory, fiscal, and policy issues.

International Petroleum Contracts and Legal Analysis in Albania – International oil and gas specialist role providing legal and policy advice to Albania’s
petroleum regulator, designed and presented a two-day course on production sharing contracts, supported capacity building initiatives and improved
petroleum policy development in Albania, supported legal and regulatory aspects of the petroleum tender and bidding process. 2018-2020.

Natural Gas Legal and Regulatory Development in Honduras – Natural gas legal expert responsible for supporting Honduras’national electrical utility
with natural gas and LNG legal, regulatory and policy advice, reviewed natural gas legal and regulatory frameworks from surrounding jurisdictions and
prepared a report and presentation to discuss specific challenges related to natural gas development and utilization in Honduras.

Shale Gas Legal and Regulatory Analysis in Western Cape Province, South Africa – Legal and regulatory specialist responsible for reviewing provincial
and municipal approaches to shale gas regulation for a proposed onshore shale gas project in the Karoo Basin, worked on behalf of provincial government
to improve government collaboration and coordination for large scale industrial development and assisted with development of municipal-level
regulatory practices.

Gas-to-Power Generation Policy Development in Nigeria – Natural Gas legal and regulatory specialist responsible for reviewing gas-to-power market
arrangements, government natural gas policies and governance/financial structures to identify areas for improvement to national meet power
generation goals. 2017-2018 Client: U.S. Department of State – Energy Governance and Capacity Initiative.

Sri Lanka Petroleum Legal and Regulatory Support – Legal and regulatory expert charged with reviewing and developing key areas of national petroleum
regulatory policy, review of contracts and building capacity within the Ministry of Petroleum Resources Development and Petroleum Resources
Development Secretariat.

Learn what past participants have said about PetroEdge training courses

I think this course is really beneficial for those involved in the PSC management and operations especially lawyers and commercials.

Legal Counsel, PETRONAS

The discussions fueled by the trainer's experience and knowledge are very rewarding.

Manager, PETRONAS