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Upstream Petroleum Contracts

An Interactive 5-Day Training Course

Upstream Petroleum Contracts

Comprehensive Hands-On Guide for Oil and Gas Professionals

NASBA
Classroom Schedule
Date Venue Fees
23 - 27 Feb 2026 London $ 5,950
27 Apr - 01 May 2026 Dubai $ 5,950
18 - 22 May 2026 Kigali $ 5,950
15 - 19 Jun 2026 Istanbul $ 5,950
03 - 07 Aug 2026 London $ 5,950
10 - 14 Aug 2026 Amsterdam $ 5,950
24 - 28 Aug 2026 Dubai $ 5,950
12 - 16 Oct 2026 Lisbon $ 5,950
23 - 27 Nov 2026 Dubai $ 5,950
28 Dec - 01 Jan 2027 London $ 5,950
04 - 08 Jan 2027 Dubai $ 5,950
15 - 19 Mar 2027 London $ 5,950
Online Schedule
Date Venue Fees
18 - 22 May 2026 Online $ 3,950
23 - 27 Nov 2026 Online $ 3,950

Introduction

Petroleum doesn't last forever. It is a non-­renewable resource. This fundamentally drives the business decisions of Governments and companies, a key part of which is that most petroleum contracts are structured to contemplate the entire life span of a project, it's beginning, middle, and end.

Upstream Petroleum contracts can vary widely in their details, however all must establish two key issues on how profits are divided between the government and participating companies.  

This GLOMACS Upstream Petroleum Contracts training course provides in-depth information on the types of upstream petroleum contracts and what their differences are and what are the main contractual terms participants need to know in order to fully understand all types of Upstream Petroleum Contracts. This Contracts Management training course will comprehensively cover Production Sharing Contracts, Exploration & Production Agreement (E&P) Exploration & Exploitation Contract, License Agreement, and participants will take away essentials elements of these contracts to be effectively used in their own companies.

This Upstream Petroleum Contracts training course is designed to be highly practical and includes hands-on interactive sessions that will help participants understand the practical issues involved and the pitfalls to avoid. A well-negotiated and drafted Upstream Petroleum Contract must stand the “test of time” and provide parties with stability as well as adaptability when circumstances change over the course of the years.

This Upstream Petroleum Contracts training course will highlight:

  • The Fundamental Types of Upstream Petroleum Contracts
  • The Advantages and Disadvantages of the Different Types of Upstream Petroleum Contracts and How it is suitable for Specific Types of Projects
  • Concessions, Production Sharing & Risk Service Contract, Important Details and Suitability for any Oil and Gas Upstream Project
  • The Role of JOA in Upstream Petroleum Contracting Conciliation, Mediation and Settlement of Disputes
  • Understanding the Essentials Terms of Unitization and Farm-in, Farm-Out Agreements

Objectives

Participants will have a working knowledge of Upstream Petroleum Contracts and how to apply this knowledge to administering Production Sharing Contracts. Further, participant will gain working knowledge of accounting and auditing procedures that will need to be implemented. 

At the end of this Upstream Petroleum Contracts training course, you will learn to:

  • Gain a full understanding of the different types of the Upstream Petroleum Contracts
  • Understand the main contractual terms and their differences between the various types of contracts from PSA, Service contracts and others
  • Be aware of the approaches to negotiation of these contracts
  • Incorporate the best terms into these Upstream Petroleum Contracts

Training Methodology

Participants will gain greater understanding of the subject matter through presentations by an experienced international practitioner designed to both inform and broaden the perspectives of the participants. Case studies will be reviewed and discussed bearing in mind some of the realistic scenarios participants may encounter. Interactive discussions to encourage discussion of problems and possible solutions to it. Negotiation simulation exercise will help participants get a realistic feel for negotiating a PSA contract.

Who should Attend?

This GLOMACS Upstream Petroleum Contracts training course will benefit all levels of personnel involved in resolution of oil and gas disputes. It will enable a broad range of disciplines to appreciate and understand the complexities of conflict resolution in particular in the Oil and Gas industry, and how best to manage disputes in the oil and gas industry.

This GLOMACS Upstream Petroleum Contracts training course is appropriate to a wide range of professionals but will greatly benefit:

  • Senior Contract Negotiators and Managers
  • Legal Managers, Legal Counsel
  • Commercial and Business Managers
  • Contracts Administrators and Managers
  • Commercial, Financial and Insurance Professionals
  • Project and General Management Personnel
Course Outline
Day 1

Introduction and Overview of Upstream Petroleum Contracts

  • Brief Overview of the O&G Industry
  • Oil and Gas Terminology
  • The Legal Framework to Upstream Contracts
  • Introduction to Contract Formation
  • Key Oil and Gas Terminology
  • Oil and Gas Industry Structure
  • Relationship between Different Players in the Oil and Gas Industry
  • Phases of the Oil and Gas Industry
  • Oil and Gas Contract Fundamentals and Legal Principles
  • Territorial Water, Continental Shelf and United Nations Convention on the Law of the Sea (UNCLOS)
Day 2

Contracting in The Upstream Sector: Ownership and Licensing

  • Ownership and Exploitation of Reserves
    • The ABCs of Petroleum Contracts: License-Concession Agreements, Joint Ventures, and Production-sharing Agreements
    • Characteristics of Upstream Contracts
    • Commercial Realities of the Oil and Gas Business
    • Agreement with Resource Holders
    • Ownership of Oil and Gas
    • Risk Service Contracts (RSCs)
    • Grant of Rights by Resource Holder
  • Host Country's Legal and Regulatory Framework and Fiscal Regime - Stabilization
    • Role of Host Government
    • Key Issues in International Oil and Gas Contracts
    • Negotiation Framework and Strategy - Objectives of Host Countries / NOCs and IOCs
  • Host Government‘s Role in Upstream (Exploration & Production (E&P)) Agreements
    • Overview of Upstream Operations and E&P Agreements (types and trends by region)
    • Key Differences between Production Sharing Contracts (PSCs), Concessions, Service Contracts and JV Contracts
    • Role of Host Government in Upstream Contracts
Day 3

Production Sharing Contracts (PSC) & Joint Operating Agreements (JOA)

  • Commercial Terms in Licensing and Concession Agreements
    • Fiscal Arrangements, License Fees
    • Five Key Financial Aspects to a PSC:
    • Royalty, The R factor
    • Cost Oil
    • Profit Oil
    • Taxation
    • Bonuses, Penalties
    • PSC – Cash Flow Distribution
    • PSC – CF Distribution Example – Year N+1
    • Comparison of Fiscal Systems
  • Joint Operating Agreements (JOAs)
    • What is a Joint Operating Agreement (JOA)?
    • Nature, Aim and Functions of a Joint Venture
    • Government Approval
    • Key Areas of the JOA
    • Purpose and Scope: Participating Interests
Day 4

Service Contracts, Farm-In and Farm-Out and Unitization - Risk Bearing and Non- Risk Bearing Service Contracts

  • Participation Agreements (Farm-in and Farm-out)
    • Agreements for Farm-ins and Farm-outs
    • Nature of the Farm-out
    • Subject Matter of the Farm-out
    • Interest Assigned and Reserved
    • Assignment of Interest
  • Unitization and Unit Operating Agreements (UUOAs)
    • What is unitization?
    • Unitization in Practice
    • Government Approval
    • Transboundary Unitization
Day 5

Negotiating Production Sharing Contracts

  • Government Take
  • Production Share and Cost Recovery
  • Local Content
  • Force Majeure
  • Dispute Resolution
  • Stabilization and Renegotiation Provisions
Negotiation Simulation Exercise
  • Negotiation a PSA with a Government Entity
  • Objective: The objective is to establish what can be achieved in the meeting, what preparation is needed for it and what strategy should be adopted and then to pursue this strategy
  • Feedback Session
Negotiation of Oil and Gas Disputes
  • Importance of Negotiation in Oil and Gas Business
  • Disadvantages of Competitive or Positional Negotiation
  • Principled Negotiation between the Parties to Achieve Best Results
Certificates
  • On successful completion of this training course, GLOMACS Certificate will be awarded to the delegates. Continuing Professional Education credits (CPE): In accordance with the standards of the National Registry of CPE Sponsors, one CPE credit is granted per 50 minutes of attendance.
Providers and Associations

Endorsed Education Provider

KHDA
NASBA

In Association With

This training course is also a part of the 10-Day Titles
Options & Brochure
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What Our Clients Say

The negotiation exercise was stimulating! Discussion on case studies of arbitration was also enlightening.

- Gbakon
Frequently Asked Question

No. Saudi GLOMACS delivers courses in Saudi Arabia and internationally, including delivery across Europe and Asia. This allows organisations and professionals to access training both locally and abroad.

No. While governance and leadership are part of the portfolio, Saudi GLOMACS delivers training across the entire business and professional lifecycle, including administrative, technical, legal, regulatory, and sector-specific training.

Yes. Saudi GLOMACS designs and delivers bespoke in-house training tailored to organisational objectives, sector requirements, and workforce needs. Training can be delivered in Saudi Arabia or internationally, depending on requirements.

Courses delivered in Saudi Arabia are adapted to reflect local regulatory frameworks, organisational structures, sector conditions, and professional expectations. This ensures training is relevant, practical, and aligned with Saudi workplace realities.

GLOMACS has been delivering professional training for over thirty years, with courses delivered across Europe, the Middle East, Asia, and other international markets.

Saudi GLOMACS combines three decades of global training experience with a clear focus on Saudi market relevance. This allows it to deliver training that is both internationally credible and locally applicable, across a broader range of disciplines than niche or single-focus providers.

Saudi GLOMACS is a Saudi-based professional training provider delivering courses tailored to the Saudi market and applicable internationally. It operates within the global GLOMACS framework and draws on more than three decades of international training experience.

Saudi GLOMACS offers professional training across a wide range of disciplines, including administration, leadership and management, governance and regulation, law, oil and gas, energy, engineering, finance, digital technologies, and sector-specific specialisations.

Training supports professionals across all career stages, from operational roles to specialist and senior responsibilities.

Participants include professionals from public sector, semi-government, and private sector organisations, across a wide range of roles and industries. Attendees range from administrative and operational professionals to technical specialists, managers, and senior decision-makers.

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