Drilling & Well Services Contract Negotiation and Management

Drilling and Well Services is one of the most dynamic sectors of the international petroleum industry. Increased exploration activity, particularly offshore, has led to nearly one hundred percent utilization of capacity; along with rising day-rates.

As a general rule, the more complex or specialized the work or project, the more likely it is that Drilling & Well Services will be sourced from independent contractors.  Even the largest multi-national companies rely upon contractors with the skill, experience and technology to carry out their exploration, appraisal and development work programmes. Three main features lie at the heart of these petroleum operations – Scope, Schedule and Budget.

This course provides participants with an understanding of the process and documentation for the selection and supervision of Drilling and Well Services. The programme for this course has been designed to enable participants to gain an understanding about the commercial, technical and legal role of contracts for Drilling and Well Services in the Petroleum Industry. The material covers all aspects of the contractual arrangements that structure the relationship between Field Operators and Service Contractors.

Top Learning Objectives

  • Understand the essential relationship between Scope, Schedule and Budget in structuring relationships between Field Operators and Service Contractors
  • Learn the methods for allocation and pricing risk between Operators and Technical Service Contractors
  • Comprehend the key terms and conditions that are included in Drilling, Well Services and Supply Contracts
  • Discover how various contract formats for Drilling and Well Services control the flexibility for changes in work programmes
  • Review the use of Alliances, Partnering and Gain Sharing arrangements
  • Learn how to make Service Contracts more tax efficient.
  • Discoverhow to design and administer “win-win” incentive and variable rate drilling contract provision to gain a better position in the contract
  • Become familiar with traditional drilling and service contract structure and terms
  • Master how to effectively negotiate drilling and service contracts and prioritize issues

Who Should Attend?

The program is designed to benefit all personnel involved in drilling and service contract negotiation and administration.

Event Details

21st – 23rd September 2020
Makati, Philippines