Overview:
Level: Intermediate/Advanced
PSCs are used in key oil & gas producing countries, each of which have different approaches and levels of complexity. New production contracts have also been recently adopted and developed in some key jurisdictions, such as Brazil and Mexico. These complex contracts include a number of clauses that have particular legal interpretation and accompanying fiscal formulas. Therefore, it is crucial to have the correct understanding of the terms in order to calculate the formulas correctly and ensure a smooth contract implementation.
This course will focus on the fiscal, legal and commercial aspects of key PSC clauses in the context of other host government contracts.
Through a detailed analysis of the issues, clauses, comparative case studies, and in-depth computer analysis this course will provide sophisticated insight and further enhance participant’s legal and fiscal knowledge of PSCs.
By Attending This Course You Will:
• Engage in a thorough analysis of the PSC clauses which will help your negotiation process
• Learn the main PSC fiscal terms and ensure project commercial success
• Benchmark international successful PSC agreements and learn the pitfalls to avoid
• Speed up your decision making process by getting the right tools to make the PSC work
• Hear the right PSCs’ risk management strategies to ensure a successful project
Who Should Attend:
• Government officials
• Country managers & external affairs
• Managers
• CEOs & CFOs
• Tax advisers & fiscal issues planners
• Legal counsels
• License administrators
• Negotiators
• Executive strategy & planning managers
• Portfolio managers
• Commercial advisers
• Accountants
• Business development & corporate
• New ventures managers
• Engineers & geophysicists
• Lawyers
• Economists & business analysts
Course Leaders: Dr Pedro van Meurs
Course Outline
1. Introduction to the PSC Model
2. Basic Production Sharing Features
3. Production Sharing and Royalties
4. Production Sharing and Corporate Income Tax
5. Production Sharing and Joint Ventures
6.Production Sharing and Windfall Profit Features, Resource Taxes and Export Duties
7. Sharing of Resource Wealth: A Comparative Analysis of Deep Water PSCs from 16 Countries
8. World Distribution of PSCs
9. Fiscal Health: A Comparative Analysis of Design Flaws in Deep Water PSCs from 16 Countries
10.Attractiveness to Investors: Worldwide Rating of 47 Different Deep Water PSCs
11. From End Loading vs. Back End Loading in PSCs
12.Sharing of Geological Risk and Ringfencing in PSCs
13. Host Government Contracts
14. Exploration and Production of Hydrocarbons
15. Title to Natural Resources
16. Host Government Contract: Type One – The Concessionary System
17. Host Government Contract: Type Two – PSCs
18. Production Sharing Contracts: A Detailed Examination of the Issues
19. Technical Issues and Expert Determination
20. Detailed Review of the PSC
21. The Production Sharing Contract: A Detailed Examination
22. An Examination of Supplemental Agreements
23. Final Review and Concluding Remarks
Course Cost: £4,399 + VAT
Media Partner
CWC Group Events:
As Iraq seeks increasing support from international oil, gas and service companies for economic development, Iraq Petroleum 2013 will host the largest gathering of over 300 senior level executives and industry experts from over 90 companies worldwide, providing an ideal forum to discuss these developments as well as the opportunity to network and build relationships.
The Iraq Mega Projects Conference & Exhibition is established as the leading forum for Iraq’s oilfield services industry and gathers over 1200 attendees as delegates, exhibitors and visitors. The event brings stakeholders from across the value chain together to identify project and infrastructure investment opportunities and showcase the latest technologies in oilfield production.
Following on the success of its launch, Kurdistan-Iraq Oil & Gas will once again bring together senior representatives from the Iraqi and Kurdistan governments to enhance international investment in Iraq’s oil and gas industry, whilst offering the perfect platform to network and explore new business opportunities. The conference will gather prominent figures from the KRG and the Federal Iraqi Government as well as international industry leaders and politicians.
