Contract Management for Facility Contracts in the Oil & Gas Industry

About the Course

The Oil & Gas Industry is significantly complex; therefore, enhancing efficiency and mitigating risks is an essential programme tailored for professionals seeking to master the complexities of contract management in the dynamic oil & gas sector. This 5-day Contract Management for Facility Contracts in the Oil & Gas Industry training course is designed to bridge the gap between standard contract management practices and the unique challenges of facility contracts within this highly regulated industry. Delegates will embark on a comprehensive knowledge of the nuances of contract law, explicitly tailored to the oil & gas industry's requirements.

Delegates will acquire advanced negotiation skills, learn how to draft and interpret contracts to minimise risks, and understand how to ensure compliance with stringent industry regulations and standards. It strongly emphasizes practical strategies for effective communication, enabling delegates to manage expectations and maintain alignment among all contractual parties. Key modules include risk management techniques critical for avoiding costly disputes, methods for ensuring contractor performance aligns with project objectives, and strategies for proactive problem-solving. Through interactive sessions, delegates will engage with real-life case studies, equipping them with actionable insights and strategies that can be immediately applied to their work environments. 

Core Objectives

The delegates will achieve the following objectives:

• Understand the important role and responsibilities of a contract professional
• Analyse contract law in oil & gas
• Evaluate negotiation strategies 
• Apply risk management principles 
• Create compliance-driven contract plans 
• Synthesise best practices from case studies 
• Develop dispute resolution techniques 
• Monitor and evaluate contract performance

Training Approach

This training course adopts a comprehensive learning approach combining theory and practical application. Through a blend of real-life case studies, interactive exercises, and role-play, delegates gain hands-on experience managing contracts within the oil and gas sector. It will utilise various proven, highly interactive learning techniques to ensure maximum achievement, understanding, comprehension, and retention of the information presented, including facilitated group and individual exercises, case studies, and role-play. 

The Attendees

This training course is for professionals in various aspects of contract management within the oil & gas sector, including engineering firms, consulting firms, and service providers within the industry. It aims to enhance their skills and knowledge in managing facility contracts in the context of unique challenges and requirements.

Likewise, it will be valuable to the professionals but not limited to the following:

• Legal Professionals 
• Contract Administrators
• Contract Engineers
• Contract Managers and Administrators
• Projects Engineers and Managers
• Process Engineers and Managers
• Procurement and Supply Chain Specialists 
• Risk Management Officers 
• Compliance Officers 
• Financial Analysts and Accountants 
• Engineers and Technical Professionals

Daily Discussion

DAY ONE: INTRODUCTION TO CONTRACT MANAGEMENT IN THE OIL & GAS INDUSTRY

• Overview of the Oil & Gas Industry: Introduction to the Industries, Value, Chain, Upstream, Midstream, and Downstream
• Key Challenges and Opportunities in the Sector
• Importance of Contracts in the Oil & Gas Industry
• Basics of Contract Law: Understanding the Elements of a Contract
• Different Types of Oil & Gas Contracts
• Legal Principles Specific to the Oil & Gas Sector
• Introduction to Contract Management
• Role of Contract Managers in the Oil & Gas Industry
• Life Cycle in Contract Management from Initiation to Closure

DAY TWO: CONTRACT PREPARATION AND TENDERING PROCESS

• Preparing Contracts
• Key Components of Contract
• Importance of Clarity and Precision in Contract Drafting
• Incorporating Risk Management Strategies into Contracts
• The Tendering Process
• Prequalification of Bid Criteria and Process
• Tender Evaluation and Awarding of Contract
• Overview of the Tendering Process in the Oil & Gas Industry
• Negotiating Contract
• Strategies for Effective Negotiation
• Common Negotiation, Challenges, and How to overcome them

DAY THREE: MANAGING FACILITY CONTRACT

• Operationalising Contracts
• Implementing the Contract: Roles and Responsibilities
• Managing Changes and Variations to Contract
• Ensuring Compliance with Contractual Obligations
• Financial Management in Contract Management
• Budgeting and Financial Planning for Contract
• Managing Payments and Invoicing
• Dealing with Financial Disputes
• Identifying and Assessing Risk in Facility Contracts
• Mitigating and Managing Risks

DAY FOUR: PERFORMANCE MANAGEMENT AND DISPUTE RESOLUTION

• Monitoring and Evaluating Performance
• Setting Performance Metrics and Benchmarks
• Regular Monitoring and Reporting
• Managing Breaches and Disputes
• Identifying Breaches of Contract
• Dispute Resolution Mechanisms: Negotiation, Mediation, Arbitration, and Litigation
• Resolving Disputes in the Oil & Gas Industry
• Contract Termination and Close Out
• Managing the Termination Process
• Contract, Close-Out Procedures, and Final Account Settlement

DAY FIVE: ADVANCED TOPICS AND EMERGING TRENDS

• Advanced Contract Strategies 
• Innovative Contract Models in the Oil & Gas Industry
• Partnering and Alliance Contract
• Technology in Contract Management
• The Role of Digital Tools and Software in Contract Management
• Data Analytics for Performance Monitoring
• Emerging Trends and Future Outlook
• Impact of Global Events on Contract Management in the Oil & Gas Sector
• Sustainability and Environmental Considerations in Contract
• Future Challenges and Opportunities in Contract Management