Description

Designed for you, if you are...

• Involved in legal or contractual functions
• Working within drilling operations

How we build your confidence

• Open dialogue
• Problem solving
• Case studies
• Exercises

The benefits from attending

• Understand the key issues that must be incorporated into a statement of requirements when tendering for a drilling contractor
• Grasp the basic different forms of drilling contracts
• Be familiar with the key contractual elements of a drilling contract
• Be able to discern both the advantages and disadvantages that stem from being involved within a joint venture (JV)
• Gain an understanding of the intricacies of the joint operating agreement
• Understand the importance of the project scope and the role played by variation and change orders within projects
• Grasp the essentials of stakeholder management and why this is important to commercial contracts
• Be aware of the differing formats and mechanisms that can be used to resolve disputes
• Have awareness of some of the different abandonment securities that exist/are imposed in different jurisdictions

Topics

• Why are commercial contracts important?
• Drafting and construction
• The element of risk
• The drilling crew (onshore/offshore)
• Description of the work to be performed
• Day rates
• Some other cost considerations – contract price adjustments, liability for damage to equipment (+ 3rd party equipment), liability for pollution, liability for well control, liability for reservoir damage
• Payment considerations
• Local content

• Daywork
• Footage
• Turnkey
• International
• The key features of a joint venture
• The rationale for joint ventures – advantages and disadvantages
• Common types of joint ventures
• Corporate joint ventures and contractual joint ventures
• Some legal aspects of joint ventures
• The 4 phases of a joint venture: planning, formation, operations, abandonment

• The right of first refusal
• Sole risk and non-consent
• The question of third-party access (TPA)
• Important factors in tie-in agreements
• Pipeline crossing agreements
• Proximity agreements

• Governing law
• Establishing the rights, duties, and obligations of the parties to the contract
• Understanding the ramifications of indemnity; insurance and liability provisions
• Provisions relating to risk and performance
• Warranties and guarantees
• Termination clauses
• Damages – LDCs
• Payment terms
• Dealing with breach of contract
• Class exercise
• Price escalation clauses
• Cost escalation and cost reduction
• Class exercise
• Assignment and novation
• Force majeure
• Class exercise

• The total cost of ownership
• Project variation and change orders
• Class exercise – scenario analysis
• Stakeholder management
• Group exercise – stakeholder mapping
• Class exercise – scenario analysis
• Dispute resolution
• Abandonment security