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Oversight on Petroleum Fiscal Systems, PIB, Host Government Arrangements and IJVs – their Opportunities and Challenges.

Overview

This 4-Day interactive workshop provides an intensive and practical oversight of the key drivers of the oil and gas industry operations. From Geopolitics of Oil and Gas down to the entire spectrum of Oil and Gas Industry Value Chain, key elements of the Petroleum Fiscal Systems Design will be taught with practical illustrations. Participants will also be exposed to the fundamental opportunities and issues in the PIGB and be familiar with the various Host Government Arrangements. In addition, environmental issues will be discussed briefly.

Who should attend:

Specifically designed and tailored to the need of Distinguished Senators and the Honourable Members of the House of Representatives at both the National and State level overseeing the Oil and Gas Operations in the Upstream, Downstream and Gas Resources Sectors.

Course Format

This course is designed to take a lecture and interactive approach format building on Nigeria as the main case study but leveraging best practices from other countries of the world.

Course Contents

Day 1: Oil & Gas Sector Management – Defining the Roles & Responsibilities

  • Nature of Oil & Gas operations
    • Geopolitics of Oil & Gas Operations
    • Joint Operating Agreement (JOA) & the PSC Agreements
    • NOC’s Objectives & Missions vis-à-vis National Development goals
    • NOC – a commercial tool or a political instrument
    • Drivers for change
      • Political driven process
      • Management driven process
    • International Practice and the role of Government, Ministries, Agencies, NOCs (DPR/NNPC) and NASS in overseeing oil and gas sector operations
      • Government, NOC & IOC relations
      • DPR Regulatory roles and NNPC functions
      • NASS Oversight Functions
    • Strengths and weaknesses with different models
      • Principle Agent Theory
      • Successful alignment with government objectives
      • Adapting to political changes

Day 2: Key Roles of the National Oil Companies (NOCs)

  • Security of Supply concerns
  • Ownership of resource and resource control issues
  • Privatization & commercialization of the NOC
  • Role and influence of OPEC
  • Relationship between NOC & IOCs
  • Environment of Operations and issues of Pollution

Day 3: Petroleum Fiscal Systems & Host Government Arrangements

  • Petroleum Fiscal System Design
  • Fiscal terms
    • Government Take (Royalties & Taxes)
    • Rents
    • Bonuses
  • Types of Host Government Contracts
    • Concession Agreement (Royalty & Tax System) or Joint Venture (JV) Agreement
    • Production Sharing Contracts (PSC) Agreement
    • Risk Service Contract (SC) Agreement
    • Hybrid Arrangements
  • Host Government Contracts – Specific Issues
    • Grant of Rights
    • The Contract Area & Rights of Expansion
    • Exclusivity of Operations
    • Restrictions on Rights of Operations
    • Performance Standards by Operator
    • Ownership of Reserves
    • Supervision of Operations
    • Relationship of the Parties
    • Duration (Term) – Fixed Terms; Variable Terms; Extensions; Termination Rights
    • Relinquishment
    • Decommissioning Obligations
  • Host Country Risk Assessment
    • Geological Risks
      • Reserve Quantity
      • Reserve Quality
    • Political Risks
    • Legal Assessment
      • Constitution
      • Petroleum Law & Regulations
      • Host Government Contracts

Day 4: The Petroleum Industry Bill (PIB) and Incorporated JVs

  • Nature of the PIB
    • The Petroleum Industry Governance Bill (PIGB)
    • The Petroleum Industry Host Community & Impacted Bill
    • The Petroleum Industry Fiscal Bill
    • The Petroleum Industry Administration (Bill)
  • Key Highlights of the PIB
  • Incorporated Joint Ventures (IJVs) Vs. Conventional JV – A Paradigm Shift
    • Structure of the IJVs
  • Opportunities & Issues in the Management of Oil and Gas Ventures

Course Curriculum

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    About

    PETROKNOWLEDGE ENERGY CONSULTING SERVICES (PECS ) is an Energy, Oil and Gas Consulting outfit with a focus in the following but inexhaustive areas of Upstream and Downstream Operations.

    7, Adeyinka Osijo Street, Akoka - Yaba, Lagos.
    +234 816 646 2951 | +234 705 374 0895
    info@petroknowledgeconsulting.com
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