Regional Masterclass on Production Sharing Contracts 2019

Topics

• What is meant by the term Contract Area
• Why a PSC is of central importance to the International OG industry
• What a relinquishment is and how they operate
• The time elements of a PSC
• How the cost recovery process operates
• The Minimum Exploration Commitment
• The meaning and operation of contractual novation and assignment
• An enhanced insight into insurance; liabilities and indemnities
• The centrally important aspects of international commercial arbitration
• The concept of Force Majeure and why it is very important to PSCs