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Regional Masterclass on Production Sharing Contracts

November 18 - November 20


The Production Sharing Contract is perhaps one of the most fundamental forms of contract to be found in the International Oil and Gas Industry. Nevertheless, it is without a doubt one of the most centrally significant legal agreements to be found. The purpose of any contract is to establish what the rights; duties and obligations of the parties are in terms of both performance and conduct. PSC’s normally involve the granting of certain rights (exploration and production) from a Host Government to an International Oil Company (IOC) in order to search for and develop hydrocarbon resources. They are high value; represent a significant investment (for the IOC); tend more towards the longer term and often have a higher risk profile.  

This course has been specifically designed to provide the delegate with a clear insight into some of the central issues and mechanisms that define a PSC. The course is an immersive experience with case studies and exercises throughout. The delivery is through open; fluid dialogue – class discussion and knowledge sharing. 

Who Should Attend

  • Commercial departments
  • Legal personnel
  • Contract managers/engineers/administrators
  • Anyone else wanting to gain insight/familiarizes themselves with PSC’s

Key Learning Objectives

  • Understand why a PSC is of central importance to the International O&G industry
  • Grasp what is meant by the term ‘Contract Area’
  • Become familiar with the time elements of a PSC
  • Know what a relinquishment is and how they operate
  • Understand the Minimum Exploration Commitment
  • Become aware of how the cost recovery process operates
  • Gain an enhanced insight into insurance; liabilities and indemnities
  • Grasp the meaning and operation of contractual novation and assignment
  • Become familiar with the concept of Force Majeure and understand why it is very important to PSC’s
  • Know the centrally important aspects of international commercial arbitration

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November 18
November 20
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Kuala Lumpur
Federal Territory of Kuala Lumpur,Kuala LumpurMalaysia+ Google Map
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