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Introduction Key Learning Outcomes Training Methodology Who Should Attend? Outline

Introduction

Pre-contract risk assessment is a critical discipline in the oil and gas industry, where contracts govern high-value, long-term projects exposed to legal, commercial, operational, and geopolitical risks. Recent global disruptions, including the COVID-19 pandemic, have reinforced the importance of robust contract structures, clear risk allocation, and effective negotiation strategies. Contracts that are poorly assessed or inadequately negotiated at the pre-contract stage often lead to disputes, losses, and reduced profitability.

This Pre-Contract Risk Assessment in the Oil & Gas Industry training course provides a structured and practical understanding of how risks arise in oil and gas contracts and how they can be mitigated before agreements are signed. Participants examine common contractual frameworks used across the industry, identify typical boilerplate pitfalls, and explore how clauses such as force majeure, termination, indemnities, and dispute resolution can significantly affect outcomes. The course also strengthens negotiation capability, enabling participants to approach negotiations strategically and secure commercially balanced, enforceable agreements in international and multicultural environments.

Key focus areas include:

Pre-contract risk identification and assessment
Commercial and legal risk allocation in oil and gas contracts
Negotiation strategies and tactics in complex deal environments
Structuring enforceable agreements and dispute resolution mechanisms

Key Learning Outcomes

At the end of this Pre-Contract Risk Assessment in the Oil & Gas Industry training course, participants will be able to:

Analyse commercial and legal risks at the pre-contract stage
Identify common contractual pitfalls in international oil and gas agreements
Evaluate and negotiate key clauses such as force majeure, termination, and indemnities
Apply effective negotiation strategies to protect commercial interests
Structure contracts that balance risk, reward, and enforceability
Assess dispute resolution options and draft effective dispute clauses

Training Methodology

This Pre-Contract Risk Assessment in the Oil & Gas Industry training course is delivered through highly interactive sessions combining expert-led instruction, practical case studies, group discussions, and structured negotiation simulations. Participants apply concepts through role play and scenario-based exercises to strengthen real-world contract assessment and negotiation skills.

Who Should Attend?

This Pre-Contract Risk Assessment in the Oil & Gas Industry training course is ideal for professionals seeking to:

Contract and commercial managers
Legal counsel and contract advisors
Procurement and supply chain professionals
Project managers and engineers involved in contracting
Business development and negotiation professionals
Risk management and compliance specialists

Course Outline

Day 1

The Commercial and Legal Framework

The Legal System & Fundamental legal principles
Mandatory elements of a legally enforceable contract
Contract formation
Terms and conditions
Contract terms
Interpretation of contract terms

Assessing Available Remedies for Breach of Contract in the Oil and Gas Industry

Rescission
Compensatory damages
Consequential and incidental damages
Liquidated damages
Specific performance
Injunctive Relief

Avoiding Risk through Contract Termination Clauses: Lessons from the Oil & Gas Industry

Common termination clauses
Penalty provisions
Avoiding common pitfalls

Day 2

Understanding Common Oil & Gas Upstream Contracts: Tips Post COVID-19

Production Sharing Contracts and similar agreements
Joint Operating Agreements
Farmout/Farm-in Agreements
Drilling Contracts
Service and Supply Contracts

Day 3

Post COVID-19: Reducing Risk through Effective Use of Force Majeure Clauses

Understand the purpose and risks this clause is intended to mitigate and the impact of COVID-19
Avoiding common Force Majeure pitfalls
Protect yourself from abuse and misuse of this clause
Mechanics of exercising Force Majeure rights

Assessing and Managing Risk in Oil and Gas Contracts

Determining and assessing types of risk
Prioritizing risk
Developing Risk Minimization Strategies

Day 4

Avoiding Common Contract Pitfalls & Negotiations

Review boilerplate classes
Issues during and post COVID-19
How to negotiate profitably
Negotiation Case

Insurance & Indemnity in Oil and Gas Contracts

Issues that must be considered at the pre-contractual phase
Post contract negotiations
Examples of various type of indemnity provisions
Good practice
Contract drafting exercise – Drafting effective indemnity clauses

Day 5

Dispute Resolution in Oil and Gas Contracts

Issues that must be considered at the pre-contractual phase – drafting tips
Types of dispute resolution vehicles: Negotiation, arbitration, mediation, litigation, expert determination
Importance of the dispute resolution clause
Framing the dispute resolution clause
Ad hoc dispute resolution agreements

International Standards & Professional Alignment

Our training courses are aligned with internationally recognised professional standards and frameworks across leadership, strategy, finance, governance, risk, compliance, and audit. By integrating globally trusted models, we ensure learners develop practical, relevant, and industry-recognised capabilities.

Our trainings draw on leading international standards and professional frameworks, including ISO, ISACA, COSO, OECD, IIA, FATF, Basel, IFRS/ISSB, GRI, NIST, CPD, ILM and the OECD AI Principles. This alignment ensures consistency with global best practices across financial management, risk oversight, digital governance, sustainability, and strategic decision-making..

Designed in alignment with globally recognised professional bodies, our courses support continuous professional development, strengthen organisational capability, and provide clear pathways toward professional certifications valued worldwide.