Legal and Economics > Production Sharing Contracts (PSC) & Related Agreements - Virtual Instructor Led Training (VILT)

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
  • Basic or Foundation
  • 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.

To further optimise your learning experience from our courses, we also offer individualized “One to One” coaching support for 2 hours post training. We can help improve your competence in your chosen area of interest, based on your learning needs and available hours. This is a great opportunity to improve your capability and confidence in a particular area of expertise. It will be delivered over a secure video conference call by one of our senior trainers. They will work with you to create a tailor-made coaching program that will help you achieve your goals faster.
Request for further information about post training coaching support and fees applicable for this.

Learn what past participants have said about EnergyEdge training courses

Informative for the first time PSC learner!


Great course organization and professional.


Both instructors are knowledgeable and more than willing to answer any questions and provide additional materials to help us understand better.


It's a real useful course, clear and concise.


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.