"Instructors were obviously in tune with the various business climates around the world. Their experience and knowledge were almost overwhelming."
Sr. Accounting Contract Analyst, Unocal
"Excellent material from worldwide range of opportunities presented by experts with practical experience in contract negotiation who have survived to tell the tale."
Manager - Europe Exploration, Texaco
"John Gustavson has an excellent understanding of the subject matter. This knowledge is supplemented with lost of practical, hands-on experience."
Senior Landman, Imperial Oil Resources Limited
"Mr. Gustavson has a wealth of knowledge regarding international agreements and opportunities."
Vice President, Endeavour Oil & Gas Ltd.
ABOUT INTERNATIONAL PETROLEUM AGREEMENTS
Mr. Gustavson believes it is crucial to the survival of the U.S. independent petroleum industry to go international. Drawing on his global expertise, he designed this two-day seminar that covers the concepts and methodologies of analyzing international petroleum contracts. This program will provide an understanding of the key factors that determine the profitability of international oil ventures under production sharing contracts, association contracts, and concession agreements.
Topics include types of commonly used contracts, negotiating the government-contract split, analysis of the cost recovery stream and of the profit stream of oil, underlying national laws, and mitigation of political and economic risks.
WHO SHOULD ATTEND INTERNATIONAL PETROLEUM AGREEMENTS
Institutional Investment advisors
Bank petroleum engineers
Oil industry executives
Investment bankers
Officials of stateowned companies
International contract negotiators
Development bank officials
International geologists and engineers
Energy ministry officials
International attorneys and accountants
COURSE CONTENT: INTERNATIONAL PETROLEUM AGREEMENTS
Types of international petroleum contracts (early concessions, Indonesia contract, recent trends), details of tax and royalty participation
Production sharing contract details (cost recovery, profit stream, oil for national consumption), Cote d'lvoire contract
Risk Service type of contracts (Brazile type, others), comparison of contract quality - case histories
Calculating final split between government and contractor, software programs for calculating and comparing contract results
Analysis of trade-offs in contract terms, international venture analysis (money at risk, success probability, reserves to be discovered and recovered, ratio of reward-to-risk)
Contract terms based on performance (production levels, economic performance such as Running ROR)
Class exercise using case histories of Running Ror, transfer-of-technology terms and use of local labor and productions, project insurance
Management committees, special considerations and terms for natural gas, environmental regulation and contract terms
TUITION: INTERNATIONAL PETROLEUM AGREEMENTS
The tuition fee includes all course materials, handouts, and sessions, plus continental breakfast and afternoon refreshments each day.
USA OFFERINGS
Price will be determined upon the offering of the next course.
CALGARY OFFERING
Price will be determined upon the offering of the next course.
PROGRAM OUTLINE: INTERNATIONAL PETROLEUM AGREEMENTS
You will learn how to:
Estimate the net income from oil and gas discoveries in different countries.
Evaluate sensitivities to loads such as first tranche oil, royalties, and government's shares of cost recovery oil and profit oil.
Distinguish between production sharing and association agreements agreements.
Decide when risk service contracts may be acceptable.
Calculate whether the rate of return is best determined by production rates or by the R-factor.
Identify agreements that protect your investment in case natural gas is discovered.
Appreciate (or guard against) joint management committees with the host country.
Seek out production purchase opportunities.
Investigate the capability of a mandatory, state-owned oil company operator or partner.
Special Features:
Numerous case histories of recent petroleum agreements with sharing ratios and checklists. Bring a calculator for handson exercises in class.
Excellent source of information exchange among the various participants sharing their international experience.
You will receive a detailed course notebook of more than 300 pages, including many current agreements.
You will receive a University of Tulsa Certificate of Completion.
Continental breakfast and afternoon refreshments will be available each day.
SEMINAR SCHEDULE: INTERNATIONAL PETROLEUM AGREEMENTS
Calgary, Alberta, Canada
Telus Convention Centre
Houston, Texas
Renaissance Hotel
Denver, Colorado
If you wish to make overnight accomodations at the seminar sites, please contact the hotel directly for reservations. Specify you are with a University of Tulsa seminar for special rates. To ensure space availability and special group rates, room reservations should be made one month prior to the seminar you plan to attend. |