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Upstream Petroleum Contracts

An Interactive 5-Day Training Course

Upstream Petroleum Contracts

Comprehensive Hands-On Guide for Oil and Gas Professionals

NASBA
Classroom Schedule
Date Venue Fees
27 Apr - 01 May 2026 Dubai $ 5,950
18 - 22 May 2026 Kigali $ 5,950
15 - 19 Jun 2026 Istanbul $ 5,950
03 - 07 Aug 2026 London $ 5,950
10 - 14 Aug 2026 Amsterdam $ 5,950
24 - 28 Aug 2026 Dubai $ 5,950
12 - 16 Oct 2026 Lisbon $ 5,950
23 - 27 Nov 2026 Dubai $ 5,950
28 Dec - 01 Jan 2027 London $ 5,950
04 - 08 Jan 2027 Dubai $ 5,950
15 - 19 Mar 2027 London $ 5,950
Online Schedule
Date Venue Fees
18 - 22 May 2026 Online $ 3,950
23 - 27 Nov 2026 Online $ 3,950

Course Summary

Upstream petroleum contracts are the legal backbone of the oil and gas industry, governing how resources are explored, developed, and commercialised across the life span of a project. This course provides in‑depth insight into the major types of upstream contracts, their typical terms, and how they divide profits between governments and participating companies. Participants explore production sharing agreements, license and concession agreements, joint operating arrangements, and key contractual provisions needed to understand and administer upstream contracts effectively. The Upstream Petroleum Contracts training course emphasises practical understanding that supports sound contract negotiation, drafting, and administration.

Throughout five days, participants examine the legal framework governing upstream contracting, explore the roles and responsibilities of key stakeholders, and analyse critical contractual terms affecting fiscal outcomes and operational risk. Emphasis is placed on negotiation strategy, dispute resolution mechanisms, and real‑world application of contract essentials. The Upstream Petroleum Contracts training course equips professionals with the knowledge to interpret, negotiate, and apply upstream contracts with confidence in complex commercial environments.

Skills & Competencies

From this Upstream Petroleum Contracts training course, participants will develop the following key skills and competencies:

  • Comprehensive understanding of upstream contract types
  • Contract negotiation strategy and application
  • Interpretation of contractual terms and fiscal provisions
  • Analysis of legal and regulatory frameworks
  • Joint operating and partnership contract insight
  • Dispute resolution and risk mitigation capability

Key Learning Outcomes

At the end of Upstream Petroleum Contracts training course, you will learn to:

  • Distinguish between different types of upstream petroleum contracts.
  • Understand key contractual terms and their commercial impact.
  • Analyse contractual provisions like production sharing, royalties, and cost recovery.
  • Apply negotiation principles to upstream contract scenarios.
  • Explain dispute resolution and stabilization clauses in contracts.

How You Will Learn

Participants develop understanding through an integrated mix of expert presentations, interactive discussions, and practical exercises based on real upstream contracting scenarios. Emphasis is placed on applying knowledge to real‑world negotiation and contract administration challenges, reinforcing both legal insight and commercial judgement.

Who should Attend?

This course is designed for professionals involved in upstream oil and gas contracting, negotiations, and commercial management.

This Upstream Petroleum Contracts training course is suitable to a wide range of professionals but will greatly benefit:

  • Senior contract negotiators and managers
  • Legal managers and counsel
  • Commercial and business managers
  • Contracts administrators and managers
  • Commercial, financial, and insurance professionals
  • Project and general management personnel
Course Outline
Day 1

Introduction and Overview of Upstream Petroleum Contracts

This day introduces participants to the upstream oil and gas industry, the legal framework for contracts, and fundamental terminology. It covers contract formation principles and industry structure. The topics covered will include:
  • Brief Overview of the O&G Industry
  • Oil and Gas Terminology
  • The Legal Framework to Upstream Contracts
  • Introduction to Contract Formation
  • Key Oil and Gas Terminology
  • Oil and Gas Industry Structure
  • Relationship between Different Players in the Oil and Gas Industry
  • Phases of the Oil and Gas Industry
  • Oil and Gas Contract Fundamentals and Legal Principles
  • Territorial Water, Continental Shelf and United Nations Convention on the Law of the Sea (UNCLOS)
Day 2

Contracting in The Upstream Sector: Ownership and Licensing

This day examines ownership of reserves, licensing agreements, and host government roles, including concession and joint venture frameworks. The topics covered will include:
  • Ownership and Exploitation of Reserves
    • The ABCs of Petroleum Contracts: License-Concession Agreements, Joint Ventures, and Production-sharing Agreements
    • Characteristics of Upstream Contracts
    • Commercial Realities of the Oil and Gas Business
    • Agreement with Resource Holders
    • Ownership of Oil and Gas
    • Risk Service Contracts (RSCs)
    • Grant of Rights by Resource Holder
  • Host Country's Legal and Regulatory Framework and Fiscal Regime - Stabilization
    • Role of Host Government
    • Key Issues in International Oil and Gas Contracts
    • Negotiation Framework and Strategy - Objectives of Host Countries / NOCs and IOCs
  • Host Government‘s Role in Upstream (Exploration & Production (E&P)) Agreements
    • Overview of Upstream Operations and E&P Agreements (types and trends by region)
    • Key Differences between Production Sharing Contracts (PSCs), Concessions, Service Contracts and JV Contracts
    • Role of Host Government in Upstream Contracts
Day 3

Production Sharing Contracts (PSC) & Joint Operating Agreements (JOA)

This day focuses on production sharing contract financial terms and the structure of joint operating agreements. The topics covered will include:
  • Commercial Terms in Licensing and Concession Agreements
    • Fiscal Arrangements, License Fees
    • Five Key Financial Aspects to a PSC:
    • Royalty, The R factor
    • Cost Oil
    • Profit Oil
    • Taxation
    • Bonuses, Penalties
    • PSC – Cash Flow Distribution
    • PSC – CF Distribution Example – Year N+1
    • Comparison of Fiscal Systems
  • Joint Operating Agreements (JOAs)
    • What is a Joint Operating Agreement (JOA)?
    • Nature, Aim and Functions of a Joint Venture
    • Government Approval
    • Key Areas of the JOA
    • Purpose and Scope: Participating Interests
Day 4

Service Contracts, Farm-In and Farm-Out and Unitization - Risk Bearing and Non- Risk Bearing Service Contracts

This day explores participation agreements, interests allocation, and unitization practices critical to flexible upstream operations. The topics covered will include:
  • Participation Agreements (Farm-in and Farm-out)
    • Agreements for Farm-ins and Farm-outs
    • Nature of the Farm-out
    • Subject Matter of the Farm-out
    • Interest Assigned and Reserved
    • Assignment of Interest
  • Unitization and Unit Operating Agreements (UUOAs)
    • What is unitization?
    • Unitization in Practice
    • Government Approval
    • Transboundary Unitization
Day 5

Negotiating Production Sharing Contracts

This day covers negotiation strategy, government take, dispute resolution, and stabilisation clauses, reinforced through simulations. The topics covered will include:
  • Government Take
  • Production Share and Cost Recovery
  • Local Content
  • Force Majeure
  • Dispute Resolution
  • Stabilization and Renegotiation Provisions
Negotiation Simulation Exercise
  • Negotiation a PSA with a Government Entity
  • Objective: The objective is to establish what can be achieved in the meeting, what preparation is needed for it and what strategy should be adopted and then to pursue this strategy
  • Feedback Session
Negotiation of Oil and Gas Disputes
  • Importance of Negotiation in Oil and Gas Business
  • Disadvantages of Competitive or Positional Negotiation
  • Principled Negotiation between the Parties to Achieve Best Results
Certificates
  • On successful completion of this training course, GLOMACS Certificate will be awarded to the delegates.
  • Continuing Professional Education credits (CPE): In accordance with the standards of the National Registry of CPE Sponsors, one CPE credit is granted per 50 minutes of attendance.
Providers and Associations

Endorsed Education Provider

NASBA

In Association With

This training course is also a part of the 10-Day Titles
Options & Brochure
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NASBA

Customisation & In-House Delivery

Delivering this course in‑house allows organisations to tailor contract analysis and negotiation frameworks to their specific legal and commercial context. Customisation ensures participants engage with contract provisions and negotiation scenarios that reflect the unique challenges of their upstream operations, supporting stronger commercial outcomes and risk management practices.

Why Choose Saudi GLOMACS?

Saudi GLOMACS is the official Saudi Arabian division of GLOMACS International (glomacs.com), delivering internationally recognised training courses both within Saudi Arabia and across international locations. Our training courses are aligned with the highest professional and institutional standards, supported by a strong understanding of the professional landscape in Saudi Arabia and access to global expertise.

Saudi GLOMACS enables professionals and organisations to strengthen leadership, capability, and long-term excellence through consistently high-quality learning experiences.

Official Saudi Presence

Official Saudi Arabian division of GLOMACS with established global credibility.

International Benchmarks

Internationally benchmarked training courses aligned with professional best practices.

Trusted Across Sectors

Trusted by professionals and institutions across public and private sectors.

Flexible Delivery

Training courses delivered within Saudi Arabia and across international locations.

Additional Benefits of this course for Organisations and Professionals in Saudi Arabia

Organisations & Professionals in KSA will have the following additional benefits from this Upstream Petroleum Contracts training course:

  • Enhanced ability to negotiate upstream contract terms
  • Clearer understanding of fiscal arrangements and risk sharing
  • More effective contract administration and compliance
  • Strengthened negotiation confidence and commercial insight
  • Greater insight into dispute resolution mechanisms
  • Improved capability to manage joint operations and partnerships
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What Our Clients Say

The negotiation exercise was stimulating! Discussion on case studies of arbitration was also enlightening.

- Gbakon
Frequently Asked Question

No. Saudi GLOMACS delivers courses in Saudi Arabia and internationally, including delivery across Europe and Asia. This allows organisations and professionals to access training both locally and abroad.

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Yes. Saudi GLOMACS designs and delivers bespoke in-house training tailored to organisational objectives, sector requirements, and workforce needs. Training can be delivered in Saudi Arabia or internationally, depending on requirements.

Yes, in-house and customised strategy training courses are available to support organisations seeking tailored strategic capability development. These courses can be aligned with your industry context, organisational challenges, and long-term strategic objectives.

For further details or to discuss customisation requirements, you may call or WhatsApp +966 (54) 286 8546 or email [email protected] . You can also submit a detailed enquiry through our in-house training page at: https://sa.glomacs.com/in-house-seminars

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For personalised assistance or detailed enquiries, please contact our team on +966 (54) 286 8546 or email us at [email protected]

Courses delivered in Saudi Arabia are adapted to reflect local regulatory frameworks, organisational structures, sector conditions, and professional expectations. This ensures training is relevant, practical, and aligned with Saudi workplace realities.

GLOMACS has been delivering professional training for over thirty years, with courses delivered across Europe, the Middle East, Asia, and other international markets.

Saudi GLOMACS combines three decades of global training experience with a clear focus on Saudi market relevance. This allows it to deliver training that is both internationally credible and locally applicable, across a broader range of disciplines than niche or single-focus providers.

Saudi GLOMACS is a Saudi-based professional training provider delivering courses tailored to the Saudi market and applicable internationally. It operates within the global GLOMACS framework and draws on more than three decades of international training experience.

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