Renegotiation or Termination of Oil and Gas Contracts
According to the World Bank, over 30 countries revised or made major amendments on their petroleum contracts at the upward point of the oil prices.
- Level
- Intermediate
- Type
- Classroom
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About Training
According to the World Bank, over 30 countries revised or made major amendments on their petroleum contracts at the upward point of the oil prices. Now under a different scenario marked with lower oil prices , an effective renegotiation clause and fair termination clause is needed.
Our Renegotiation and Termination of Contract course is developed to help you learn how to start and conduct the renegotiation of the contract terms and protect their investment from early termination.
Course Design Focuses on Initiating the Renegotiation
This course focuses on the issues and tools which are available to successfully renegotiate contract terms and avoid unwanted termination of contract.
Includes Specific and Practical Case Studies
Both International and Regional case examples on Renegotiation and Termination are enhanced with several role plays and exercises.
You will also be able to analyse and study the case studies from different countries on different aspects for example stabilization clauses, renegotiation and termination of contracts, Force Majeure, etc.
Training Objectives
Mitigate Future Risks
Design/negotiate renegotiation and termination clauses under a lower price scenario to mitigate possible future risks in the contracts.
Maintain Good Business Relationship
Prepare and take necessary actions for possible remedies after agreeing on any decision to maintain good business relationship between the parties in the contract.
Audiences
- People involved in upstream contracts – drafting, negotiating, monitoring and reviewing contracts.
- People involved in assessing, defining and managing risks in upstream contracts.
Job Titles Include:
- Upstream Lawyers
- Upstream ConsultantS
- Legal Counsels
- Upstream Contracts Negotiators
- Business Development/New Ventures
- Political Risk Executives and Managers
- Procurement Manager, Executives
Instructor
Atty. Primila Edwards
Primila Edward leads the Straits Consulting Group as the Principal Legal Consultant. The firm provides specialized legal and strategic risk management consultancy for transactional and advisory work in the Oil & Gas, Maritime and Construction sectors. From her years of practice, Primila has gained extensive experience in handling cross-border transactions and complex multi-million dollar projects. Among her industry affiliations, she was the President of the Malaysian Corporate Counsel Association, a member of the Malaysian Institute of Arbitrators. Recently she has also been awarded the accolade of ‘2011 Shipping Lawyer of the Year in Malaysia’ by Corporate INTL UK.
Primila has a considerable experience in the oil and gas maritime and construction sector. In almost 30 years she has practiced English law in common law jurisdictions include working in England, Malaysia, Singapore, and Australia. She has also advised and negotiated contracts and handled legal issues in countries of civil law jurisdictions like Vietnam, Indonesia, Thailand, Italy, France and Brazil.
She has gained wide experience in the industry and acted as an in-house counsel and consultant for many oil and gas public-listed companies including Bumi Armada Berhad, Malaysia Marine and Heavy Engineering Berhad, and Hoang Long Joint Operating Company Vietnam. She has negotiated EPC, FPSO contracts, Charter
Party, Shipbuilding, Ship Conversion and Ship-repair contracts and evaluated tenders and assisted in the preparation of tenders with ENI, AFREN, HOANG LONG JOC, SHELL & PETRONAS. Among her experiences she has advised and negotiated to manage inherent risks including the following:
Construction
Negotiation and preparation of agreements relating to the development, construction and operation of plants, refineries and petrochemical facilities pipelines, gas processing Engineering and Manufacturing, Power Generation, in particular EPC, EPCC, EPCM, EPCIC, Alliance, Turnkey, FIDIC, FPSO Conversion and Construction, Shipbuilding agreements.
Commercial
Identifying of risks within company’s business strategies and advising on risk management in all activities of the company both for domestic and international matters. Managing litigation and arbitration matters and instructing the company’s external lawyers and experts covering matters that relate to Oil & Gas, Petrochemical,
Maritime and Shipping Infrastructure, Construction, Mining and Financing. Structuring, negotiating and documentation of agreements in energy-related disputes, including advice in commercial litigation and ADR strategy and in construing and analyzing complex transactions.
Aside from law practice, Primila also contributes to the legal society as an author in publications such as Getting The Deal Through-Shipping 2011; as columnist for Malaysian Business on the Oil and Gas industry; and as Senior Writer for the Oil and Gas Asia Business Review and Business Plus magazines.
Primila has gained her law degree in the United Kingdom, and has practiced law in England, Malaysia, Singapore, and Australia.
Daily Aims
Day 1: Termination
- Understanding of Oil and Gas Contracts
- Common Law & Contractual Rights to Termination
- Consequences of Termination
- Election to Terminate—the right of parties
- Remedies for Wrongful Termination of Contract
Day 2: Renegotiation
- Renegotiation of Contracts
- Election to re-negotiateD
- Stabilization Clauses in times of Economic Uncertainty
- Dispute Resolution dealing with Termination Issues
DAY 3: Case Studies
- Initiating Contract Renegotiations Before the contract begins
- During the contract
- After termination of contract
- Case Studies Review
Training Schedule
| Code | Start Date | End Date | Locations | Cost | Instructor |
|---|---|---|---|---|---|
| PST0367-201601 | Kuala Lumpur, Malaysia | USD 2,895 | Atty. Primila Edwards |
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
