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CM10

Contract Management for the Oil and Gas Industry

Course fees £3600 Duration 5 days

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Introduction

Contracts are the basis of doing business - yet so often their details are only understood by the lawyers who create them. What are the most important areas a commercial manager should be looking at when he is putting a new contract in place? What should he be asking his legal team to include? How can he negotiate 'better' contracts with suppliers and business partners? How can he protect his business if disputes develop? These are just a few of the questions this programme will address, focusing in particular on contracts in the oil and gas industry. Using actual examples drawn from real life, the programme will develop and enhance the skills and capabilities of delegates in the petroleum resources sector on the creation, negotiation and management of contracts.

Who should attend?

This is a stimulating and practical course designed for directors, senior executives and decision takers involved in strategic and operational functions, including managers of procurement, finance, legal, risk and supplier relations and who want to understand how to maximise the competitive advantage in the oil and gas sector.

  I would like to thank LMC for their support,coordination and support ¬†services for our participants.¬† Mrs Sana Al Khudairy, Kuwait Petroleum Corporation

Principles of contract law

    • Prepare an offer and acceptance
    • Contract consideration
    • Parties to the contract; privity of contract; law of agency
    • Express and implied contract terms
    • Contract law quiz

Petroleum industry contracts

    • Typical features of exploration and production contracts and contracts for the supply of oil-related services
    • 'Local content' contract requirements
    • Anti-corruption measures in petroleum industry contracts
    • Case study exercises using oil contract examples

Contract negotiation skills and practice in a petroleum industry context

    • Preparing for the negotiation
    • Understanding the position of the other side
    • Negotiation roles and tactics
    • Reaching an agreement
    • Knowing your BATNA - what happens if the negotiation fails
    • Negotiation role play

Managing contractor performance

    • Getting and maintaining supplier contract performance
    • Service level agreements
    • Setting SMART objectives
    • Key performance indicators
    • Contract governance: managing contractual variations
    • Why performance is important and who is involved?
    • Post contract action

Dispute Resolution in the petroleum industry

    • Contract breaches and remedies
    • Termination of contract
    • Should we litigate?
    • Using arbitration, mediation or conciliation as means to resolve contractual disputes
    • Strengths and weaknesses of ADR as an alternative to litigation
    • Dispute resolution scenario

By the end of this course participants will be able to:

    • Lead and manage contract discussions and negotiations
    • Identify risks that contracts should address
    • Employ contractual tools and techniques to increase competitive advantage
    • Appreciate the importance of typical standard contract terms and conditions
    • Initiate and develop better commercial contracts within their organisation
    • Learn to look for key elements of commercial contracts
    • Improve supplier performance through better contracts
    • Plan and manage the resolution of contractual disputes
 
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