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Dr Ing Evita Legowo Dr Trijana Faiz Shahab Ittiporn Bounprucong Joseph Amudi Tobing Peter Godfrey
Director General - Oil Kartoatmodjo, Commissioner Dy Director-General Senior Legal Counsel Vice President,
& Gas Deputy Chairman - PT Prime Dept of Treaties and Hess Limited Commercial
Ministry of Energy & Operations Petroservices Legal Affairs, MFA Arrow Energy Intl
Mineral Resources BP Migas
It takes many years and a lot of money to E&P Sharing Contracts and Agreements 2010
Why Join?
get to a positive cash flow on any particular will allow you to gain exclusive access into the
E&P project, so it’s hard to hang on through most efficient partnerships, alliances, contracts and
agreements adapted to today’s economy. Hear:
a bust. Well-structured contracts set you up
• Arrow Energy Intl’s Peter Godfrey as he reveals
to succeed and are the main determinant of novel mechanisms and regulatory framework
whether your E&P venture will be a boom or adjustments required to kick start the
a bust. commercialisation of CBM from local gas
markets.
Benefit from the following insights to allow more • PT Prime Petroservices’ Faiz Shahab highlights
commercially viable arrangements for your business: specific provisions and collaboration models
• Investment credits – An incentive which can you can adopt for technically complex plays
backfire as a disincentive such as deepwater and multifield projects
• Domestic market obligation – Possibility of and create win-win profitable agreements.
legally manipulating this limitation? • Hess Limited’s Joseph Amudi Tobing will
• Fuel price hike – How can this be handled in our share case studies into specific agreements
agreements and contracts made
• PSCs – Not always the best type of petroleum
contract, what else is there?
Register now! Call +65 6844 2080 for more info.
• Cost recovery – How a PSC contractor make a
“If Indonesia´s oil and gas industry Register in one of these 4 easy ways:
is a restaurant, maybe this is the Call +65 6844 2080
right time to offer menus other than Fax +65 6844 2060
the PSC.”
- Suwito Anggoro, President
Email epcontracts10@arcmediaglobal.com
Director PT Chevron Pacific Visit arcmediaglobal.com/epcontracts10
Organised by Promoted by Supporting Official Industry Official Media Partners Blog Partners
Organisation Partner
Indonesia Law
Reporter
Ekonomi Migas
p2 E&P Sharing Contracts & Agreements 2010 | 6-8 July 2010 | Jakarta
Dr Ing Evita Legowo, Director General -
volatile prices globalisation
Glimpse of experts you’ll meet
Marketing Opportunities
Oil & Gas, Ministry of Energy & Mineral
Resources
Energetic and efficient Dr Ing Evita Legowo,
director general of oil and gas in the Ministry of
Energy and Mineral Resources provides confidence
for investors on putting fresher E&P contracts and
mega mergers
agreements on the table. She will highlight the
next-generation E&P engagements, growth and geopolitical changes
partnership opportunities available in Indonesia for
the world.
4% 2% 2% 2% 2%
2% 16%
28%
5% 22% 9%
7%
1%
22% 17%
6% 9% 1% 3%
5%
9% 1% 3% 4% 5%
3% 1%
3%
3%
3%
4 easy ways to register: Call +65 6844 2080 | Fax +65 6844 2060 | Email epcontracts10@arcmediaglobal.com | Visit arcmediaglobal.com/epcontracts10
E&P Sharing Contracts & Agreements 2010 | 6-8 July 2010 | Jakarta p3
• Abandonment • Repayment
Day One | 6 July 2010, Tuesday – Program, Provisions • Financing
• Management
Master Class A | 09.00 - 17.00 Financial issues • Marketing
• Valorisation of Production
Structuring and Negotiating Win-Win Production Sharing
• Tax Exemptions Additional issues
Contracts and Related Agreements and Effectively Managing • Customs Issues • Assignments & Change of Control
Disputes • Exchange Control Issues - Affiliates and Contractor, Third Parties
• Stability • Disputes
As an upstream player in Asia, you rely extensively on the use of • Extension to Subcontractors - Amicable Settlement, Conciliation,
agreements to determine the rights and obligations of oil companies, • Audit & Accounting Arbitration
contractors, service providers and host governments when engaging • Insurance • Force Majeure
in transactions such as production sharing contracts, joint venture – Conditions, Consequences
operating agreements, farmout agreements, drilling and services State participation
contracts, and sales of production. • Nature
• Entry into Force
With global oil and gas resources becoming ever scarcer, new players • Rates & Options
arising and petroleum price volatility causing you millions of losses
in project abandonment, you must negotiate the best possible
Production Sharing terms for you to access and profit from new oil and
gas frontiers. Negotiations for these transactions are conducted in a
framework that includes law, economics and interpersonal skills.
Introduction • Scope / Duration 09.00 Next-generation E&P engagement: Outlook for the world and
Overview & Latest Updates of the - Entry into Force, Extensions & Asia in 2010
hydrocarbons industry in Asia Renewals, • To what extent will the downturn bring fundamental change
History of hydrocarbons to the nature of E&P contracts in Asia and how will IOCs,
exploration and exploitation Termination NOCs and service contractors respond?
Ownership of exploration and • Surface • What are the bright spots and challenges for the service
exploitation of Hydrocarbons - Definition, Reduction, contractors?
Relinquishment, • What are the growth and partnership areas available in
Hydrocarbons exploration & Abandonment Indonesia for the world?
exploitation regimes Dr Evita Legowo, Director General - Oil & Gas, Ministry of
Main Obligations Energy & Mineral Resources
Overview • Works and financial
• Main stakeholders commitments 09.30 Transforming PSAs: Evolving contracting models and the push
• Main regimes and history - Definition, Guaranties, Penalties to abolish the PSA
- Nature • Personnel • Revisiting and transforming the original PSAs to more win-win
- Ownership of production – Quotas, Training and commercially viable arrangements
- Ownership of assets Contributions, Local • What are the alternatives available to successfully transform a
• Contractors PSC into a more economically viable contract?
Revenue allocation – Public Tender, Local Preference Dr Trijana Kartoatmodjo, Deputy Chairman - Operations,
• Concessions • Production BP Migas
- Bonus – Domestic Market Obligations,
- Royalties Quotas 10.00 Revising inefficient contracts: Holistically reducing
- Taxes • Information uncertainties from E&P projects
• Production sharing contracts – Reports, Data, Confidentiality • Evaluating alternatives under different scenarios, i.e. reserve
- Introduction • Health, Safety & Environment discoveries, variations in oil prices, operating costs, and field
- Bonus – Environmental Impact development
- Cost Oil & Profit Oil Assessment, Plans • Cost recovery system and ‘excess profit’ adjustment
- Taxes & Royalties and Procedures mechanism
• Comparative analysis • Responsibility • Hedging against exploration uncertainties of no discovery,
- Bonus discovery not being commercial and costs
- Royalties Nature, Extent Process • Hedging against production uncertainties, derived through
- Taxes • Management operating costs and commodity prices fluctuations
- Annual Work Programs, Mr Joseph Amudi Tobing, Sr Legal Counsel, Hess Limited
Latest Update on selected Management
regimes in force in Asia Committee, Operator, Control 10.15 Risk management in E&P agreements
Hydrocarbons exploration & • Discovery • Internationalisation vs localisation
exploitation issues • Direct market obligations
Reports, Commerciality, • Creating a risk-ready culture: Organisational strategies for
Bidding & award Exploitation, Unitisation identifying risks, establishing accountability, implementing
• Direct Award • Production risk-management techniques and monitoring their
• Public tender – Measuring, Lifting, effectiveness
Transportation, Reserved for sponsor
Main Rights Marketing
10.45 Networking Break
4 easy ways to register: Call +65 6844 2080 | Fax +65 6844 2060 | Email epcontracts10@arcmediaglobal.com | Visit arcmediaglobal.com/epcontracts10
p4 E&P Sharing Contracts & Agreements 2010 | 6-8 July 2010 | Jakarta
of projects to make them commercially viable and profitable for
Plenary Two | 11.15 - 12.45 all parties. Specific provisions and collaboration models for these
Asian fiscal regimes and risk management projects will be discussed:
• Upstream projects in Indonesia, in view of the revised PSC
11.15 The commercialisation of CBM: A need for Indonesia to adjust model
its regulatory framework? • Optimising PSC contracts for development of marginal fields
• Contracts for CBM, deepwater and multi-field projects
There’s a need for Indonesia to recognise that today’s regulations Mr Faiz Shahab, Commissioner, PT Prime Petroservices
remain based on export-led development of energy resources
whereas today’s political and economic priorities are driven by 14.15 Addressing contractual challenges for upstream contractors
domestic needs. Benefit from a presentation that will answer: • Compete or collude: Models of cooperation between an
• Commercialisation of CBM, which is predominantly located in IOC/NOC and a service contractor and the use of the tender
relatively remote areas, and the required novel mechanisms procedures as a tool to maximise value by IOCs/NIOCs
to kick start localised gas markets as a means of encouraging • Bank guarantees, parent company guarantees & performance
the early development of infrastructure guarantees
• Can PLN / PGN help or hinder in this process? • Emergence of “mutual indemnity” regimes over knock-for-
• What are the recommendations for a “way forward”? knock indemnity regimes (timing issues)
Mr Peter Godfrey, Vice President Commercial, Arrow Energy • Knowing when not to negotiate – Insurable risks and pricing-
International in
• Succeeding locally through host country relationship
11.45 Meet the Regulators Session management
Asian fiscal regimes: Addressing the problem areas in the 14.45 Interview: Legal counsels speak
execution of the Asian PSCs, JVs and service contracts for more Dynamic legal counsels in some of the region’s successful E&P
revenue projects are increasingly visible to both domestic and global
audiences. In this session, legal counsels who have become
With globalisation, mega-mergers and acquisitions, volatile prices household names share their perspectives on the keys to success in
and changing geopolitical scenarios, it is vital to understand not structuring winning contracts and agreements.
only the changing terminology and semantics of the PSC but also
how fiscal systems have evolved, and their economic and financial • Consortium/Alliances/Joint ventures in high risk
impact. Key state representatives are invited in this roundtable. The environments: what contractual and compliance terms should
audience will be able to ask questions in this session to discuss: IOCs/NOCs/SOC be aware of?
• “Open Doors” attitude to NOC-IOC partnership: will this • What strategies IOCs, NOCs and service contractors used
successfully attract more foreign direct investment into the to form an alliance and consortium agreement with several
State? parties from different countries?
• Licensing/concessionary regimes, service contracts, risk • How do you put in place effective dispute resolution
contracts/fee for service contracts, Joint venture/back-in mechanisms?
contracts • How do you negotiate tough contracts, deal with unstable
• How does the current price environment influence legal systems and fiscal terms?
governments’ decisions on upstream activities in oil and gas? • Legal counsels and contract managers’ wish-list: what
• Indonesia’s latest PSC model and overcoming IOC’s challenge can the government and partners do to improve business
• Understanding how partnerships and agreements are collaboration and competitiveness?
changing in Malaysia, Thailand and the Philippines
• Frontier projects in Cambodia, Myanmar, Laos and Vietnam Panellists
• How can IOCs and resource holders create value, share • Mr Joseph Amudi Tobing, Sr Legal Counsel, Hess Limited
rewards, transfer skills through generating the “win-win” • Mr Ittiporn Boonpracong, Dy Director-General, Dept of
partnership? Treaties and Legal Affairs, Ministry of Foreign Affairs
• How do you avoid delays in government revenue from Thailand
progressive profit-sharing schemes? • Reserved for sponsoring law firms
Plenary Three | 13.45 - 15.30 16.30 International contracts: Dispute management and negotiation
Specific projects and upstream service contractors mechanisms between IOCs, NOCs, SCs and State
• Key issues to consider in drafting the arbitration clause
13.45 There is no Panacea: Specific contracts for specific projects • How could you cope with rapid adjudications for post-contract
close ups?
Technically complex plays such as deepwater and multifield projects • Selecting tribunal and independent experts
are more expensive to explore and produce from. Almost 40% of *To be confirmed
new discoveries in the last five years are in deepwater. Deepwater
projects require more Capex for development. Marginal fields, on 17.00 Next steps of action: Concluding observations and closing
the other hand, can potentially be uneconomic if contract terms are remarks
too rigid to allow for the commercialisation of small fields.
Mr Tariq Shafiq, Founding Executive, Iraq National Oil Company
With the drying up of credit resources, win-win synergy and careful
structuring of contracts terms must be put into place in these types
4 easy ways to register: Call +65 6844 2080 | Fax +65 6844 2060 | Email epcontracts10@arcmediaglobal.com | Visit arcmediaglobal.com/epcontracts10
E&P Sharing Contracts & Agreements 2010 | 6-8 July 2010 | Jakarta p5
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E&P Sharing Contracts and Agreements 2010 6-8 July 2010, Jakarta
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