Program Description
This course is intended to provide current and prospective Guyanese petroleum industry professionals with essential training in fundamentals of the oil & gas business, the operative laws and principles, and practical guidance for understanding and drafting standard oil & gas industry agreements.
Program Outline
Oil & Gas Development in Guyana: Opportunity for Economic and Societal Development.
Oil & Gas Business fundamentals: Exploration, appraisal, development, production, decommissioning. Project economics and risks. Environmental consideration and safety.
Host country granting instruments: (i) comparative description of major types used worldwide, and (ii) the Guyanese O&G regulatory framework for granting E&P rights
Transparency and the rule of law. Ethics, Foreign Corrupt Practices Act, and You: Complying with the FCPA and Guyana’s anti-corruption laws while robustly pursuing business opportunities.
Risk Allocation: Joint ventures and other business structures. How, why, and by what means do industry participants form business relationships to allocate E&P risks.
Local content: Defining it, Importance to host country and IOC’s. How local content shapes host country – IOC relationships, can ensure development of local expertise, and protect indigenous and environmental interests.
Oil refining fundamentals. Overview of oil refining, its role in delivering refined products that power the planet, refined products, and crude oil commodity markets, implications for Guyana as it develops the O&G industry. Refinery economics and trends.
Natural gas fundamentals, natural gas liquids (NGLs), liquefied natural gas (LNG), and markets. Sustainable economic development & Resource Dependence – Ways Guyana can learn from best and worst practices of other petroleum countries and maintain a balanced diversified economic base.
Natural gas to electricity and the powering of industrialization and economic development in Guyana.
Joint Operating Agreements (JOA’s) and related accounting procedures. Servicing Relationships.
Environmental, Health, & Safety and Human Rights in petroleum exploration, development, and production.
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* GuyanaOGEC reserves the right to change the program and speakers at its sole discretion