An Interactive 5-Day Training Course
Pre-Contract Risk Assessment in the Oil & Gas Industry
Tips for Negotiation & Renegotiation of Oil & Gas Contracts
Course Overview
Pre-Contract Risk Assessment within the Oil & Gas industry is central. This training course aims to offer a review to common oil and gas contracts with specific emphasis on identifying common contractual pitfalls in light of COVID-19, many contracts had to be negotiated and/or re-negotiated during COVID-19 and so you will enhance your ability to do so in order to mitigate risk through commercial clauses and to increase profitability.
The training course offers a thorough analysis to the concept of risk management and the various tools in place to mitigate risk, before discussing the general commercial risks associated with placing contracts within the Oil and Gas Industry. The hands-on practical exercises will give you an understanding of the art of negotiations.
Delegates will understand the components of “the deal”, timing, strategies for gaining the upper hand in negotiations, games opponents play, good vs. bad negotiations and the pitfalls of positional bargaining. After attending this training course, delegates will be better equipped to negotiate profitably with international companies and governments in order to enforceable agreements that contain terms and conditions most productive for their company.
This GLOMACS training course will highlight:
- The interactions of national legal systems in this field and the contractual frameworks
- The impact of COVID-19 on oil and gas business
- Negotiating contracts profitably post COVID-19
- Understanding boilerplate contractual provisions and the risk associated with these
- Arbitration and Alternative Dispute Resolution (ADR) Techniques
Training Outline
DAY 1: The Commercial and Legal Framework
- The Legal System & Fundamental legal principles
- Mandatory elements of a legally enforceable contract
- Contract formation
- Terms and conditions
- Contract terms
- Interpretation of contract terms
Assessing Available Remedies for Breach of Contract in the Oil and Gas Industry
- Rescission
- Compensatory damages
- Consequential and incidental damages
- Liquidated damages
- Specific performance
- Injunctive Relief
Avoiding Risk through Contract Termination Clauses: Lessons from the Oil & Gas Industry
- Common termination clauses
- Penalty provisions
- Avoiding common pitfalls
DAY 2: Understanding Common Oil & Gas Upstream Contracts: Tips Post COVID-19
- Production Sharing Contracts and similar agreements
- Joint Operating Agreements
- Farmout/Farm-in Agreements
- Drilling Contracts
- Service and Supply Contracts
DAY 3: Post COVID-19: Reducing Risk through Effective Use of Force Majeure Clauses
- Understand the purpose and risks this clause is intended to mitigate and the impact of COVID-19
- Avoiding common Force Majeure pitfalls
- Protect yourself from abuse and misuse of this clause
- Mechanics of exercising Force Majeure rights
Assessing and Managing Risk in Oil and Gas Contracts
- Determining and assessing types of risk
- Prioritizing risk
- Developing Risk Minimization Strategies
DAY 4: Avoiding Common Contract Pitfalls & Negotiations
- Review boilerplate classes
- Issues during and post COVID-19
- How to negotiate profitably
- Negotiation Case
Insurance & Indemnity in Oil and Gas Contracts
- Issues that must be considered at the pre-contractual phase
- Post contract negotiations
- Examples of various type of indemnity provisions
- Good practice
- Contract drafting exercise – Drafting effective indemnity clauses
DAY 5: Dispute Resolution in Oil and Gas Contracts
- Issues that must be considered at the pre-contractual phase – drafting tips
- Types of dispute resolution vehicles: Negotiation, arbitration, mediation, litigation, expert determination
- Importance of the dispute resolution clause
- Framing the dispute resolution clause
- Ad hoc dispute resolution agreements
Certificates
- On successful completion of this training course, GLOMACS Certificate will be awarded to the delegates
- Continuing Professional Education credits (CPE) : In accordance with the standards of the National Registry of CPE Sponsor, one CPE credit is granted per 50 minutes of attendance
Accreditation
GLOMACS is registered with NASBA as a sponsor of Continuing Professional Education (CPE) on the National Registry of CPE Sponsors. NASBA have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.learningmarket.org.
All Training Seminars delivered by GLOMACS by default are eligible for CPE Credit.
Providers and Associations
About Saudi Glomacs
At Saudi GLOMACS, we specialize in delivering world-class training courses in Saudi Arabia and across various international locations. Our training courses are tailored to meet the unique demands of Saudi Vision 2030 and the Human Capability Development Program, focusing on empowering Saudi citizens and enhancing workforce skills. We offer diverse courses spanning leadership, management, engineering, and technical disciplines to cultivate expertise and drive professional growth. Our flexible learning options—whether in-person, online, or in-house—ensure accessibility and convenience for individuals and organizations alike.
With over 30+ years of experience through the GLOMACS global network, we are committed to delivering innovative, results-driven training solutions. Our expert instructors combine industry knowledge with dynamic teaching methods, fostering practical skill development and long-term career success. By choosing Saudi GLOMACS, you're investing in personal excellence and contributing to the Kingdom’s sustainable economic growth and vision-driven transformation.
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