Modern practice in petroleum licensing
Who should attend:
Petroleum specialists from the Ministry of Oil and Gas and from the State Oil Companies, G and G specialists and engineers from the New Ventures Groups of the International Oil Companies, IOCs, as well as bankers, economists, taxation specialists, lawyers, staff members of the multi-lateral funding agencies and other specialists from the para-statals
Overview:
This course describes petroleum licensing as it has evolved in today's world from the point of view of the Host Governments, the State Oil Companies, the International Oil Companies, the IOCs and the Host Communities. It opens with a review of the geopolitical and historical events that have shaped our petroleum industry and then proceeds to an examination of the main issues in petroleum licensing. These are international law and institutions, government energy policy and domestic law, the national petroleum legal framework, the Islamic (Sharia) Law and the petroleum sector as well as technical, legal and fiscal issues in petroleum licensing. The course then goes on to discuss the Contract Area, the Bidding Round, the Tender Evaluation process and the Grant of Rights in Petroleum Exploration and Production. The course concludes with an identification of the Ten Different types of Host Government and the four different types of IOCs and their likely posture in negotiations.
Content:
- The geopolitical and historical development of the international oil industry
- International institutions and their effect on modern licensing practice
- Domestic Law, energy policy, the national institutions and the licensing process
- Islamic ( Sharia ) Law and the petroleum sector
- Fiscal issues in modern petroleum licensing
- Promotion and Licensing: creating the petroleum Contract Area
- Understanding, quantifying, evaluating and mitigating risk: the meaning of petroleum prospectivity
- Defining the investment opportunity and a method for its award, devising a coherent licensing strategy
- The Invitation to Tender and the Licensing Round, the evaluation of bids
- Key issues in negotiations