Building Advanced Skills & Competencies in
3rd Monday of Month
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Petroleum Field Owners and Operators often offer Drilling Contracts to Drilling contractors with specified Equipment and Expertise. These contracts may be on Daywork Basis or Footage Contracts, and sometimes Turnkey Contracts or a mix of them. Drilling Contracts define the rights and responsibilities of the parties. The contracts mention situations, under which the contractor will be entitled to reimbursement of his losses or recoverable costs. These situations need to be administered carefully to prevent unrecoverable costs being charged by the Drilling Contractor.
The operator or field owner provides information and data on the site, permits, access to site, some materials as mentioned in contract, and, expected and maximum depths to be drilled. Drilling Contractors are expected to have the required professional expertise and judgement, perform diligently and to good professional standards. Safety and Accident Incidents are recorded and documented. Major Risks are often covered by Insurance. Blowout is usually the responsibility of the Operator. Responsibility for Lost circulation and any redrilling requirements depends on specific circumstances, Supervisory Control and Contract.
This Advanced Workshop will provide the participant a detailed understanding of the Contractual and management aspects of each of the above-mentioned processes and events.
In this program detailed discussion of Drilling contracts management will cover provisions and issues related to: (1) The Drilling & Related Services to be provided, (2) Standards of Workmanship, (3) Recommendations and Interpretations, (4) Control of the Services, Data, Drawings and Documents, (5) Permits and Approvals, (6) Laws and Regulations, (7) Registration; (8) Offshore Transportation, (9) Contractor Provided Items, (10) Company Provided Items (11) Variations. (12) Safety & the Environmental Responsibilities; (13) Compensation, Invoices, Payment, (14) Disputes; (15) Indemnifications including in case of: Loss of Down-Hole Equipment, Loss of or Damage to Hole, Blow Out or Crater, Reservoir Damage, Pollution, Treatment of Consequential Damages, (16) Taxes And Duties (17) Observance of Local Laws and related Indemnification (18) Assignment & Subcontracting (19) Patents, Copyrights And Technology. (20) Publicity. (21) Audit. (22) Commissions or Fees. (23) Payment to Subcontractors. (24) Termination. (25) Governing Law. (26) Arbitration for Dispute Resolution. (27) Notices. (28) Scope of Services. (29) Equipment and Personnel Technical Specifications. (30) Compensation Commercial Specifications. (31) Safety. (32) Occupational Health & Environmental (33) Standards & Specifications (34) Subcontracting. (35) Limits of Liabilities of the parties. (36) Insurance Requirements, (37) Subcontracting. (38) Contract Term, Termination, Extension; and so on.
This Advanced Workshop will also discuss Special terms for foreign Contractors : (1) Income, Profits, and Capital Gains Taxes; (2) Personnel and Property Taxes, (3) Withholding Tax, (4) Value Added Tax. (5) Import Duties. (6) Importation and Exportation of Equipment (7) Excise, Sales or Use Taxes. (8) Contractor Status in Country. (9) Observance of Local Laws and Indemnification, (10) Provision of Information. (11) Double Taxation Agreement. (12) Force Majeure. (13) Notice. (14) Termination. (15) Contractor's Personnel Qualifications & other requirements.
For each of these conditions mentioned above we will discuss: (1) What are the requirements, (2) What are the possible risks, (3) What Contract Administration is required, including when risks materialize, (4) What mitigations are possible to minimize impact on the Drilling works, (5) What Requests for Reimbursement and Claims may arise from either side, (6) How to document your Position, and (7) Strategies for arguing and Win-Win resolving any disputes or disagreements that may arise.
(Benefits Made possible by Euro Training's unique, multidiscipline, customer focused easy to understand and apply training methodology that relies on Industry Good and Best Practices)
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