What are "international exploitation contracts" and how do they work?

• The key differences between PSCs, concessions, service contracts and joint-venture contracts
• The rights and obligations of the parties at each stage

Why do we have PSCs?

• Understand what PSCs are designed to do and how they are evolving

Who gets the production?

• How to work out the production splits
• Untangling the "R factor"

How are the contracts dealt with in the exploration phase?

• Managing timescales, minimum work programmes, appraisal and relinquishment
• Setting criteria, evaluating and agreeing ‘commerciality'

What are the objectives in the development and production phase?

• Differences between host countries and contracting companies and how to bridge the gaps
• Bonuses, royalties, taxes and pricing issues

Where is the balance of risk in the contract provisions?

• Using incentives structures to even out the upsides and downsides of the contract terms for each party
• The challenge of decommissioning obligations

How to manage the economics of international contracts

• Tools for assessing the value of success and the cost of failure
• How do we set the right price?
• Special issues for marginal fields

Who pays for and carries the risk during development programmes?

• Where to find sources of funding from the public and private sector
• How are ‘non-financial issues' dealt with?
• How to meet national policies and contract commitments for employment, training, local purchasing and HSE compliance

How is cost recovery set up and managed?

What are the effects of unitisation and redetermination?

In what ways are gas contracts different?

• Special considerations for natural gas and LNG production, transportation, processing and sales agreements
• Understanding the LNG marketplace

Future trends

• Has the traditional PSC had its day?
• Recent developments in contracting
• The changing role of IOCs