Drilling Contract Negotiation & Management
Switching focus from higher cost deepwater drilling to lower-cost shallow discoveries can be seen in countries like Malaysia and Indonesia.
- Level
- Intermediate
- Type
- Classroom
Trusted by Leading Companies
Our training programs are promoted to engineers, supervisors, and technical teams across the globe, supporting their continuous development and operational competency.
About Training
Switching focus from higher cost deepwater drilling to lower-cost shallow discoveries can be seen in countries like Malaysia and Indonesia. Thus, contracts have to now cope with the downturn of the market.
Our Drilling Contract Negotiation and Management course is developed for both operator and contractor who involved in drilling and service contracts. It covers all aspects of contracts including tender process, letters of intent, contract negotiation and administration, ethics considerations and dispute resolution.
This course focuses on the whole process of Drilling contracts with a comprehensive approach on handling contract from both Operator and Contractor’s contract positioning.
Drilling contract examples on overview of provisions, contract negotiation, etc. are enhanced with practical exercises and workshops throughout the session.
You will also learn the impact of decisions through the pending Macondo litigation and contract administration in the event of a crisis. In addition to that, you will also be able to discuss the importance of assuring proper administration of drilling contracts and insurance agreements during times of crisis.
Training Objectives
- Understand the possible risks and issues during tender, negotiation and administration processes to better allocate the risks in the drilling contracts.
- Learn how to develop effective contract and insurance administration in crisis response activities to avoid failure in claiming.
- Learn how to design and administer “win-win” incentive and variable rate drilling contract provision to gain a better position in the contract.
Audiences
- People involved in Contract Management and Administration of Drilling Contract during project execution.
- People involved in Negotiation of Drilling Contract
Job Titles Include:
- Contract Lawyers & Attorneys—Rig/Drilling
- Contract Executives & Managers—Rig/Drilling
- Contract Negotiators—Rig/Drilling
- Contract Managers/Administrators
- Rig Procurement Managers
- Drilling Contractor Marketing Personnel
- Project, Operations, and Rig Managers
- Accounting and Operational Personnel
- Business Unit Heads with responsibility for Rig Selection and Management of Drilling Operations
Instructor
Cary A. Moomjian
Cary Moomjian spent 35 years as a Senior Drilling Industry Executive. He has expertise in legal, contractual, commercial and risk management activities, including drafting and negotiating drilling contracts, joint venture relationships and shipyard rig construction projects in over 40 countries. Mr. Moomjian has substantial experience in drilling contract preparation, qualification and negotiation as well as dispute resolution and crisis management. He remains active in the industry and currently serves on the Board of Directors of a major global drilling and oil service company.
Mr. Moomjian is well-known throughout the drilling industry and, to quote IADC’s Drilling Contractor magazine, is “widely regarded as one of the industry’s foremost experts on drilling contracts.” Mr. Moomjian is the world’s most prolific author of papers and articles on the subject of drilling contracts. He chaired the IADC Contracts Committee for over a decade, served three terms on the IADC Executive Committee and was the recipient of the prestigious IADC Contractor of the Year award in 1996. A frequent lecturer at IADC, SPE and other industry events, Mr.Moomjian has participated in every IADC Contract and Risk Management Conference and has been selected to present seven papers on drilling contracts at SPE-IADC Drilling Conferences between 1989 and 2014.
Frequently quoted in industry publications (e.g. Profile in January-February 2011 Drilling Contractor magazine and an article on the impact of the Macondo well disaster published in September-October 2014 Drilling Contractor magazine), Mr. Moomjian has prepared numerous papers and articles for various industry conferences and publications. His authoritative publications have been cited scholarly papers,court decisions in the U.S and the UK, and litigants’ briefs (including an amici curiae brief submitted to the US. Supreme Court in August 2013).
Throughout his distinguished career, Mr. Moomjian has participated in virtually all facets of drilling contracts addressing U.S. and international operations involving drill ships, semi-submersibles, jackups, drilling barges, tender, platform, and land rigs. His experience includes traditional daywork, variable rate, footage, turnkey and various other forms of incentive contracts, as well as strategic alliances, rig sharing and oilfield service agreements.
After having served as Senior Vice President of Contracts Administration and Business Development of Santa Fe Drilling Company and as Vice President, General Counsel and Secretary of Santa Fe International Corporation and Ensco plc, Mr.Moomjian founded CAM OilServ Advisors LLC in 2012. Mr. Moomjian’s company provides general consulting, advisory, training, expert witness, mediation and (by arrangement with Cary A. Moomjian, Jr. PC) legal services to the oil service industry and oil & gas companies. Additional information is available at www/camoilserv.com
Mr. Moomjian currently serves as a member of the Board of Directors of Ensign Energy Services Inc.
Daily Aims
Day 1 : Drilling Contract Historical Development and Future Trends
- Introductory Overview of Drilling Contract Provisions
- Introduction to Risk Allocation and Insurance Provisions
- Drilling Contract Basics – Drafting Considerations and a Clause-by-Clause Review of Traditional Contract Provisions
- Letters of Intent
- Contract Administration
- Ethical Considerations
Day 2 : The Macondo Litigation and its Impact on Oilfield Contracts and Insurance
- Crisis Management in relation to Drilling Operations and Insurance
- Drilling Contract Horror Files
Day 3 : Introductory Overview of Drilling Contract Provisions
- Introductory Overview of Drilling Contract Provisions
- Variable Rate Contracts
- Incentive Drilling Contracts
Day 4 : The Art of Negotiating Drilling and Service Contracts
- The Art of Negotiating Drilling and Service Contracts
Training Schedule
No upcoming session is scheduled yet. Send a quick inquiry and we will let you know the next date.
Why Choose This Training
Credibility
Align with API/ASME standards. Trusted by major operators.
Expert Instructors
Led by industry veterans with real field experience.
Real Case Studies
Practical application of concepts through real world scenarios.
Practical Skills
Hands on calculations and decision making for FFS outcomes.
Trusted by Operators
Delivered to Aramco, ADNOC, SABIC, and other major operators.
Global Training Standard
Recognized across major industries by PetroSync's proven approach.
Professional Training Aligned with Industry Standards
Practical, industry ready training designed for real work environments
Free Consultation Limited seats available
