Unitisation in the Oil and Gas Industry
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Hydrocarbon tend to tread two or more license concessions areas or even international boundaries. Unitisation is a mechanism whereby reservoirs for petroleum and or gas are developed as a unit by single operator ( the Unit Operator) and use common production facilities under an agreement called a Unitisation Agreement. The objective is to obtain the maximum recovery of hydrocarbon by the parties. Unitisation requires rather complete and real knowledge of the field which justifies there being a Unitisation Agreement which is among interested parties. The Unitisation Agreement seeks to provide for that the participating interests and helps to avoid some legal traps. Unitisation should be implemented early in the life of a field, prior to development as the owners seek to establish leverage in negotiating a larger share of the field or drain the field.
This Oxford training course will equip delegates with the essential skills sets to boost their competence and confidence to: analyse and interpret commercial, legal and contractual aspects of the specific types of unitisation agreements and these contracts that will be reviewed, determine economic issues that affect both sides to a contract and to learn how to balance these issues in order to minimise risk, and to gain tips and tricks on negotiating the unitisation agreements.
At the end of this Oxford training seminar, you will learn:
- International oil and gas legal and technical principles used in unit operations
- The key legal and commercial issues that arise in a unitisation
- Issues to consider when preparing a UUOA for a specific project
- Specific issues to be considered in a cross-border unitisation
- Provisions aimed at limiting liability of adjoining operators / contractors
This Oxford training seminar on Unitisation in the Oil and Gas Industry will highlight the international law determining the rights and responsibilities of states in the development of shared petroleum deposits, how to Unitise a field and the ways to compile a Unitisation and Unit Operating Agreement, determining the and which stage this should take place, and the negotiation the agreement with partners.
Who should attend
This Oxford training course is suitable to a wide range of professionals but will greatly benefit:
- Commercial Manager Legal Counsels / Advisors
- Commercial Lawyers
- Negotiators Project Owners Project Directors / Managers
- Project Engineers / Planning Engineers
- Operation Managers Contract / Agreement Manager / Specialists
- Business Development Managers