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E&P Contracts, Finance and Negotiations (EPF)
Licensing agreements with government agencies are the basis on which
the international E&P industry operates. Terms negotiated in these
agreements vary but have far reaching and a long-term impact on project
profitability. Joint operating, alliance and farm-in agreements also
impact E&P operations. An understanding of basic negotiating issues and
techniques is essential to establish favourable contract terms in joint
venture operating environments. Debt and equity funding of E&P projects
requires knowledge of credit risks, loan agreements, bank lending and
securities markets, hedging and how to calculate loan values and debt
cover ratios. Product price hedges can reduce E&P risks.
Who Should Attend
- E&P managers and team leaders, oil and gas analysts/economists,
geologists, geophysicists, engineers (reservoir, production, facilities,
drilling) and landmen
- Legal professionals, E&P joint venture administrators, contract
negotiators, new venture staff wishing to learn more about international
contracts, finance and their impact on E&P operations
What You Will Learn
- The structure and objectives of licensing agreements with government agencies
- The purpose of Joint Operating Agreements (JOAs), alliance and risk sharing agreements
- The negotiating techniques and issues relevant to a range of E&P contracts and deals
- To recognise how debt funding can be used to leverage asset values for field development and purchase purposes
- To calculate loan values and debt cover ratios
- The obligations of a borrower and how downside risks can be minimised by using financial instruments such as commodity hedges
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