This course will describe the key differences between the three basic genres of Government Petroleum Contracts between foreign investor oil companies and host governments: Production Sharing Contracts (“PSCs”), Tax and Royalty Contracts (Concessions) and Risk Service Contracts. Also described will be common misunderstandings regarding how PSCs work.

This course will also familiarize each participant with the key elements of international joint operating agreements (“JOAs”), international farm-out agreements, international Study and Bid Group Agreements (“SBAs”) and international Area of Mutual Interest Agreements (“AMIAs”) – and make each participant aware of commonly occurring problem areas.

This course will also describe applicable dispute resolution mechanisms – including ICSID arbitration under the auspices of the World Bank (as opposed to, at the other end of the spectrum, resolution of disputes in the national court system of the host country where the host government appoints all of the judges) – and by way of applicable investment treaties.

The course will, for example, describe why countries such as Venezuela, Bolivia and Ecuador have chosen to exit from the ICSID Convention and from applicable bilateral investment treaties.

By way of attending this unique course, participants will gain the following:

Learn what is new among the 150+ countries that are competing against one another for a share of the finite amount of risk capital that the IOCs, and national oil companies (“NOCs”), have to invest.

Learn about how PSCs differ from Royalty/Tax Contracts and Risk Service Contracts - and why one format might be more attractive than the other

Understand the negotiation of Government Petroleum Contracts from the perspective of both the international oil company, on one hand, and the host government, on the other hand.

Discover the “three pillars of security of investment” under Government Petroleum Contracts.

Consider progressive fiscal regimes designed to provide stabilisation, as well as legal stabilisation mechanisms.

Learn about specific provisions to address expropriation per se, as well as "creeping expropriation" (increases in fiscal obligations), and how arbitral award enforcement treaties, such as the ICSID, and investment treaties give "teeth" to these provisions.

From the host country perspective - learn why countries such as Venezuela, Bolivia and Ecuador have exited from bilateral investment treaties and ICSID.

Understand the operation of international JOAs, international Farmout Agreements, international Study and Bid Group Agreements and international Area of Mutual Interest Agreements - and identify frequently over-looked problem areas.

All those involved in exploration, production, purchase, transportation, product treatment and sales, including:

• Contract Negotiators / Commercial Managers

• Government Officials and Regulators

• Project Contract Negotiators / Commercial Managers

• Project Owners / Sponsors

• Senior Engineering & Project Managers

• Operation Managers

• Financial Controllers

• Strategists, Planners and Analysts

• Gas Sales and Marketing Executives

• Financiers

• Asset Managers

• E&P Professionals and Managers

• Petroleum Engineers

• Reservoir Engineers

• Buyers, Sellers & Distributors

• Traders

• Services Sector Providers

• Auditors

• Consultants, Advisers and Lega