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.