Oil and Gas – Understanding Terms and Conditions and the Contract

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Understanding Terms and Conditions and the Contract of Oil and Gas

By attending this workscope you will:

  • Grasp the skills to understand fundamental contractual concepts;
  • Enhance your ability to read and negotiate product and services contracts in the oil & gas industry;
  • Learn major differences between commercial and legal sides of the contracts to ensure smooth contract delivery;
  • Master the ability to structure your work within the contract.

This workshop is intended for the supplier/contractor company receiving contracts from a client

Course Content

8.45 Arrival and Registration

9.00 Introduction and Course Objectives

9.15 Part I – Commercial Issues

  • Good contracting practices
  • Contract starts with Scope of Work and delivery/schedule
  • Practical/Case Study

10.30 Break

10.45 Part II Major terms and conditions

  • Contracts for Products Supply
  • Contracts for Works/Services
  • The key differences between Services and Products Supply)
  • Pros and Cons of Standard Forms of Contract
  • Use of LOGIC contracts
  • Financial/payment terms
  • Practical/Case Study

12:30 Lunch Break

13.30 Part III – Legal clauses

  • Understanding indemnities: knock for knock regime
  • Complex indemnities clauses: catastrophic and consequential losses
  • Insurance obligations
  • Liquidated damages
  • Termination/suspension – difficulties of application
  • Limitation of liability
  • Confidentiality regimes
  • Practical/Case Study

15.00 Break

15.15

  • What is a balanced contract?
  • Managing risks in contracts
  • Battle of the Forms
  • Final walk-through on a typical contract with pros and cons from a User point of view
  • Negotiation – terms are regularly negotiated, and which have most value to be negotiated.

16:45 Feedback, Q&A

17:00  Close

Duration:1 Day

Cost: £245 + Vat

Oil and Gas Terms and Conditions Contracts Training London, Scotland, Glasgow, Edinburgh, Inverness, Aberdeen and onsite course available throughout the UK.

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