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PSA575-2
2 Week Training Workshop

Understanding & Administering Petroleum Production Sharing Agreements (PSAs)

Building Advanced Skills & Competencies in

  1. Gaining Correct Understanding of the Contract Provisions
  2. Correct way to Analyze & Calculate Party Obligations
  3. Effective Documenting and Record Keeping of Contract Events
  4. Considered & Informed Management Decisions to Exercise Contract Options
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Dubai 22 April-10 May 2024
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Dubai 1-19 July 2024
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Kualalumpur 15 July - 2 Aug 2024
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Dubai 7-18 Oct 2024
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Dubai 4-22 Nov 2024
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Seattle, USA 16 Dec 2024 - 3 Jan 2025
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London 30 Dec 2024- 17 Jan 2025
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What is Covered in this Program

  1. Exploring Petroleum for Production is Expensive, Needs Specialized Skills and Expertise, and the Risk of Not Finding Commercially Exploitable Reserves is Very High.

    Generally, Government organizations are not tuned to perform effectively on such business ventures and resources may also be limited.

    So the Government (acting under its National Oil Company NOCs) as the owner of the Underground Petroleum Resources hires an Exploration & Production (E&P) Contractor to Invest his own money to do such exploration, bear all the risks, pay some fees for this right and data provided, and if commercially viable petroleum is found within a certain period, and extracted within another mentioned period, part Produced Oil will go to reimburse the Contractor for his Allowable Costs (Cost Oil) and from the remaining oil (Profit Oil) the government will take a percentage share of the petroleum (in place of royalties and taxes). Cost recovery is usually 50%+ of the production.
  2. Many complexities are included in these arrangements and calculations. PSA may have provisions to convert themselves to Risk Sharing Contracts at Option of the National Oil Companies NOCs.

    The PSA Contract Conditions will be discussed in detail including Understanding the Contract Condition, its interpretation, enforceable changes that can be made to this condition, contract administration aspects, record keeping aspects, possible disputes and their resolution.

Who Should Attend

  1. This program is intended for Production Sharing Agreement PSA Professionals, Managers, Auditors, Finance Departments, Government Auditors and Oversight Committee Members.
  2. This program is also intended for Petroleum Accounting Professionals, Operational Auditors, Regulatory Agency Staff and Middle Managers.

Program Content & Modules

Understanding & Administering Petroleum Production Sharing Agreements (PSAs)


  1. Business Aspects of Petroleum Production Sharing Agreements (PSAs)
  2. PSA Stakeholders and their Expectations
  3. Legal & Regulatory Aspects of PSAs
  4. PSA Operational Objectives
  5. Short discussion on PSA Possible Problems, Leakages, Inefficiencies and Solutions arising from lack of Company or Regulatory Control over the PSA Process
  6. Typical PSA Contract Conditions:

    (1) Nature of the relationship between the Parties;
    (2) Duration of the Agreement;
    (3) Exploration Period,
    (4) Production Period,
    (5) Operator,
    (6) Petroleum Operations procedures Document,
    (7) Costs and expenditures, and Recovery of costs and expenditures,
    (8) Production sharing,
    (9) Lifting and disposal of Crude Oil,
    (10) Conduct of Petroleum Operations,
    (11) Work Obligations during the Exploration Period,
    (12) Exploration Work Plans and Budgets,
    (13) Commercial Discovery,
    (14) General Development and Production Plan,
    (15) Development and Production Work Plans and Budgets,
    (16) Production Plans,
    (17) Guarantees,
    (18) Contribution,
    (19) Conservation of Petroleum and prevention of loss,
    (20) Records, reports and inspection;
    (21) Contractor Group's Obligation to Purchase Owner Share of Petroleum,
    (22) Other rights and obligations related to Crude Oil disposal,
    (23) Unitization and Joint Development,
    (24) Transfer and abandonment of assets,
    (25) Natural Gas,
    (26) Operations for Owner's account - sole risk,
    (27) Operating Committee,
    (28) Ownership of assets,
    (29) Ownership and confidentiality of data,
    (30) Liability for losses and damages,
    (31) Petroleum Operations risk management,
    (32) Recruitment, integration and training of Local personnel,
    (33) Double taxation and change of circumstances,
    (34) Assignment,
    (35) Termination of the Agreement,
    (36) Confidentiality of the Agreement,
    (37) Dispute resolution,
    (38) Force Majeure,
    (39) Applicable law,
    (40) Language,
    (41) Offices and service of notice,
    (42) Effectiveness.
  7. Detailed Discussion on Each of the Contract Provision

    (1) Understanding the Contract Condition
    (2) Enforceable Interpretation (vs Literal interpretation)
    (3) How an Enforceable changes that can be made to any condition
    (4) Contract Administration aspects
    (5) Essential Communications
    (5) Record keeping to Resolve any Disputes or Disagreement Claims
    (6) Possible disagreements or disputes
    (7) Win-Win Dispute Resolution.
  8. Program Recommendations & Next Steps
  9. Customized Participant Action Plan

3 week Advanced Training Workshop

Enhance your Understanding, Job Skills, Competencies & Process Knowledge

Euro Training has been providing
  1. Knowhow and Technology Transfer to the Participants.
  2. Building Job Oriented Understanding, Competencies & Process Knowledge.
  3. Domain Multi-discipline understanding that Improves Performance, Credibility and Respect
  4. Competencies that Enable Superior Performance, Promotion, Career Advancement and Respect among Peers
This 3 week Advanced Training Participant Takeaways
  1. A-Z Knowhow and Step-by-Step Process Knowledge
  2. A Customized Detailed Action Plan to apply the Program Knowledge to Work.
    The detailed Action Plan and Implementation Plans you prepare and take away after the program will help you take improvement initiatives and make a positive difference in your job, team, business unit or organization.
    This difference after implementation and when added to your resume will make you a prime candidate for career advancement in your own organization or in your next job/s.

Benefits for Organization Sponsoring Participants

(Made possible by Euro Training's unique, multidiscipline, customer focused, strategic focused, knowledge management, Data Analytics approach)

Participant Career & Life Benefits

  1. Job Satisfaction that will come when satisfying your customers
  2. Respect that will come when you are Recognized by your Peers
  3. Promotion that will come from your Better Job Performance, Making Improvements and Convincing Performance Review Handling
  4. Career Advancement that will come from your increased Employability through Convincing Competency Display in Resume and Interviews, Improvement Ideas, and Implemented Improvements

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Registration Information
3 Week Advanced Training Program

  1. To register: Please send us an official letter confirming registration (on organizational letterhead). Also send us a completed registration form ?electronically fill-able is at- available at http://www.eurotraining.com/etl-reg-3w.doc You can request or registration form by Emailing regn@eurotraining.com and eurotraining@gmail.com
  2. For Program Fee Information Email: fees@eurotraining.com . Fees are Payable by Bank Transfer or Bank Draft. Fee information is also available at: http://www.eurotraining.com/fees.php .
  3. Program Fee is
    • 3 week (90 hrs) Advanced Training Program:
      At Dubai, Kuwait, New Delhi, Qatar £10,840 (USD $13,800) per participant.
      At London, US Locations, Europe, Malaysia, Singapore £11,924 (USD $15,180) per participant.
      Online eTraining Fee £5,000 (USD $6,250) per participant.
    and includes Course Materials, Certificate, Refreshments and Lunch (classroom programs). www.eurotraining.com/admin/fees.php)
  4. Accommodation is not included in Program fee. Special rates will be available at venue hotel for the class room training program participants.
  5. Special discount of 10% is offered for participants who pay their fees at least 45 days before start of the program.
  6. Refund will not be considered where the participants cancels his registration less than 3 weeks before start of the program. Alternate nominations will be allowed anytime before program start. In case of exceptional hardship or emergency participant may be allowed to attend at another location.
  7. All participants are required to fill in Participant Information form - on first day of the program. Each program Undergoes Customization to Better Meet Participant Present and Future Career Needs. Please be prepared to let the Instructor/s know about your organization's Special Needs, Interests or Initiatives.
  8. It is always useful for participants to bring their existing problems or case studies, work-process flow charts or job related problems for discussion - consideration will be at sole discretion of the program director/s.
  9. Provisional Registration : You can make a provisional registration request by sending us an email with an official provisionsl registration request this will ensure we will reserve a seat for you for 14 days. After this you have 2 weeks to send us an official registration request. Provisional registration is automatically cancelled at the earlier of (1) 2 weeks after Provisional Confirmation if registration is not confirmed from your side (2) Two weeks before start of the program. We do request you to inform us ASAP you have decided either way. Please note All provisional registrations automatically cancel 2 weeks before program start unless confirmed.
  10. Information required for Provisional Registration: Program Title, Location, Dates, Your Organization Name, Your Email Address, Your FAX No and your Mobile Number.