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WBC Delivers First Course in Lebanon

WBC delivered its first course in Lebanon at the end of April 2018.. The “Introduction to the O&G Industry”, a 2 day training programme delivered by Angus Warren in Beirut, is the first course in Lebanon of its kind.  It signals growing interest in the sector following the award of two blocks to consortia led by Total of France.  The course was presented to a group that included participants from local banks, service companies, the Lebanese Petroleum Administration and NGOs. [Read more…]

Oil & Gas: To Hell with the Contracts….

The Nigerian government is focussing on PSC and joint venture agreements in its attempts to extract more from Oil & Gas: as part of our occasional series on key management issues in the Oil & Gas industry and the strategic context needed to succeed, we asked Bryan Gundersen, one of the world’s leading lawyers and an associate of WBC, to comment on the governance and legal issues arising from the current Nigerian government initiative.  Bryan’s next course is in Lagos at the end of November. [Read more…]

Local Content: Effective in the Past, Problematic in the Future

National oil companies (NOCs) in developing countries have always had an important role to play in the transfer of technology and skills into the country, and as a vehicle for economic development.  And local content provisions have always had a key role to play in such endeavours.

But recent trends suggest that increasingly restrictive local content requirements will have unintended impacts across a range of issues, including labour costs and the ability of oil companies to deliver projects within challenging time schedules. [Read more…]

WBC Delights Akfel with Gas and LNG Training

Staff and guests of Akfel took part in the “Negotiating Successful Gas and LNG Contracts” training course in Istanbul at the end of September.  Warren Business Consulting’s associates Leigh Bolton and Yvonne Barton (from Holmwood Consulting) delivered the gas and LNG training programme to staff of Akfel, SOCAR, ENERCO and GasTrans in Istanbul. [Read more…]

The Strategic Importance of Farm Outs – Part 3

The previous articles in this series* highlighted the strategic reasons for farm out transactions and some common terms found in farm out agreements.  This article looks in more detail at some of the fundamental legal and contractual issues that should be considered when drafting and negotiating farm out agreements. [* by Richard Metcalf and Vivek Katyal of Norton Rose*, the international law firm]

[Read more…]

The Strategic Importance of Farm Outs – Part 2

Farm out agreements are amongst the most common and strategically important agreements in oil and gas.  For the explorer they can represent an opportunity to create value from a promising prospect, for others they may play a critical role in portfolio optimisation.

There are many different types of farm out agreement but perhaps the most common covers the exchange of an interest in a licence or contract for the assumption of an obligation.  This almost always happens at the exploration stage and the obligation assumed is usually a commitment to the government to shoot seismic or to drill a well.

[Read more…]

The Strategic Importance of Farm Outs – Part 1

For small and big oil companies alike, farm out deals play a significant role in the oil and gas business.  For some small companies farm outs present an opportunity to add value to an exciting exploration prospect.  For larger companies, these deals play a critical role in portfolio management.

Whatever your perspective, farm out agreements are amongst the most common in oil and gas, coming second only to granting instruments.  All investors and companies will want to make sure they understand how these agreements work.

[Read more…]

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