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PSA575-6
6 Day Training (including 1 day Workshop)

Understanding & Administering Petroleum Production Sharing Agreements (PSAs)

1 Day Workshop and Building 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
www.eurotraining.com/bro/psa575-6.php

6 Day Training (including 1 day workshop)

Kualalumpur
15-19 July 2024
New Delhi
29 July - 2 Aug 2024
London
12-16 Aug 2024
New York
26-30 Aug 2024
Seattle
9-13 Sept 2024
Istanbul
23-27 Sept 2024
New Delhi
7-11 Oct 2024
Kualalumpur
21-26 Oct 2024
New Delhi
4-9 Nov 2024
London
18-23 Nov 2024
New York
2-7 Dec 2024
Seattle, USA
16-21 Dec 2024
London
30 Dec 2024- 4 Jan 2025
Dubai
6-11 Jan 2025
Kualalumpur
20-25 Jan 2025
Dubai
3-8 Feb 2025
London
17-22 Feb 2025
New York
2-7 March 2025
Seattle, USA
16-21 March 2025
Istanbul
30 March-4 April 2025
New York
13-18 April 2025
Dubai
27 April-2 May 2025
Kualalumpur
11-16 May 2025
London
25-30 May 2025

Useful Links


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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

6 Day Training (including 1 day workshop)

Outcomes & Takeaways

Euro Training has been providing
  1. Knowhow and Technology Transfer to the Participants. Building relevant Understanding, Competencies & Process Knowledge.
  2. Multi-discipline understanding of Program Topics.
    Means that post program when participant takes decisions, related to his work, participant will automatically and subconsciously consider and take into account (as applicable) Internal & External Customer Needs and Expectations, Operational & Strategic Objectives, Regulatory Aspects, Industry Standards, Technology Options, Understand Helpful Modern Tools and Methods, Understand Risks, Actions for Increasing Productivity, Legal & Contractual Aspects, Intellectual Property Aspects, Safety, Security, Audit, Cost Benefit Aspects, Value Engineering Opportunities, Key Performance Indicators, Meaningful Performance Evaluation System, and, Data Analytic Opportunities.
    This type of understanding and habit otherwise develops after years of rich and diverse work experience. (few get this opportunity)
  3. Knowledge Framework outline which will enable the participant to understand and learn the right lessons from his own past, present and future on-the-job experience.
  4. Participant will learn to identify, support and implement improvements in his work area, team, section, department, and organization.
    Participant will work hands-on during the 1 day workshop where he will identify, analyze and develop implementation plan for an improvement project related to his work.
This 6 day Training participant will typically take away...
  1. Program related knowhow, skills, competencies and process knowledge.
    This program will use case studies and benchmarked Good and Best Practices to enhance participant understanding and competencies.
    A 1 day improvement identification and implementation workshop.
  2. Domain Knowledge and process knowledge.
    The participant will become empowered and should become more Productive, Effective, Efficient, Customer Focused and Strategic Focused.
    At the end of the program, the Participant will prepare a Customized Outline Action Plan which will serve as the roadmap to implement some key improvements in his work area.

Benefits to the Organization Sponsoring Participants to this program

(Benefits made possible by Euro Training's unique, multidiscipline, customer focused, strategic focused, easy to understand and apply training methodology that relies on Industry Good and Best Benchmarked Practices)

Participant Individual Career Benefits

  1. First, and most important benefit, is the positive self-esteem that will come from being able to do your work right first time and meet internal and external customer expectations.
  2. Second, the Program developed Understanding, Skills & Competencies will help you successfully present your professional and Team skills at Job Interviews and Internal Performance Evaluation Reviews.
  3. You gain a clear direction for analyzing, proposing and implementing improvements in his work area.
    The outline action plan you prepare and take away after the program will help you take improvement initiatives and make a positive difference in your performance on the 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.
  4. Post program when you take decisions related to your work processes you will automatically consider (as applicable): Internal & External Customer Needs and Expectations, Technology Options, Helpful Tools and Methods, Consider Risks, Mitigate Risks, Take Actions that Increasing Productivity, Consider Legal & Contractual Aspects, Consider Intellectual Property Aspects, Pay attention to Safety and Security, Consider future Audit, Weigh Cost Benefit between options, Be Mindful of Key Performance Indicators (KPIs), Consider how Performance will be evaluated, and, Consider need for and Opportunity to Develop a Decision Support Knowledge Base, .... (and possibly more multi-discipline aspects).

Registration Form

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Registration Information 6 Day 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-6d.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.pdf .
  3. Program Fee is
    • 6 day (36 hrs) Training Program:
      At Dubai, Kuwait, New Delhi, Qatar £5,100 (USD $6,500) per participant.
      At London, US Locations, Europe, Malaysia, Singapore £5,610 (USD $7,150) per participant.
      Online eTraining Fee £2,500 (USD $3,125) 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.