Course

OIL AND GAS E&P UNITIZATON (Workshop)

Category: Commerce, Economics & Management

Upcoming Dates

DateVenue
24 - 28 Jun 2024London
1 - 5 Jul 2024London
9 - 13 Dec 2024Dubai

Course Fee

£3,950 + VAT

OIL AND GAS E&P UNITIZATON PROCESS

Course Content:

  1. Origination & Concept of Unitization:
    • Geologic & Petroleum Engineering of Sub-Surface Formation
    • Simple Case Unitization
    • Multiple Independent Reservoirs & Fields
    • Voluntary & Compulsory Unitization
  2. Geologic & Economic Trigger for Unitization
    • The Prevailing Factor (s)
    • Mandatory or Non-Mandatory Notification of Field Extensions
    • Field Extension in Bidded & Non-Bidder Areas
  3. Geologic & Petroleum Engineering Field Data
    • Reservoir Data, Dynamics & Features: An Asymmetrical Information Among Parties
    • Reservoir Data Disinformation Among Parties
    • Reservoir Data Correlated Information
    • Uncertainty & Risk Aversion in Unitization
  4. Unitization Process
    • Unit Agreement among parties
    • Host Govt. & Lessee or Lessees
    • Lessees among themselves (IOCs/Indigenous Oil Companies)
    • Application for Unit Agreement
    • Filing & Approval of Documents with Host Govt.
    • Qualifications of Unit Operator
    • Modalities for Designation of Successor Operator
    • Modalities for Change Of Unit Operator by Assignment
    • Timing of Unit Agreement:
    • Imposition Of Unitization by Host Govt
    • Foreseeing & Forestalling Redetermination
    • Investment Hold-Up
    • National Unique Provisions on Aspects of Unitization e.g. Joint Exploration & Drilling under PSC.
    • Parties to Unit
    • Company Heterogeneity
    • Idea No. of Parties to the Unit
    • Procedures & Approval Authority in Different Countries
    • Farm-Outs & Acquisition Agreements
    • Collective Decision Making through UUOA
  5. Unit Agreement Structures (UUOA)
    • AIPN’s UUOA Model
    • Cross-Border Issues include Enforceability of agreement.
    • Withdrawals
    • Defaults
    • Contract Revocation Clauses
    • Redetermination: the process, Limitations & Consequences
    • Third Party Rights
    • The Pugh Clause & the Rights of Lessons (or Host Govt.)
  6. Participation Formula
    • Pre-Unitization Costs
    • Additional Exploration, Appraisal & Development Plan
    • Considerations for: Blocks resulting from different bidding rounds
    • Varying Reservoir Rocks & Fluids
    • Varying Reservoir Depth
    • Relationship Between Allocated Reserves & Amount Invested in Reserve (Not Necessarily same for all concessionaries) (Equalization)