Course Overview:
This five-day training program equips participants with the essential skills and strategies to manage procurement processes, negotiate and oversee contracts, and mitigate risks specific to the oil and gas industry. Attendees will learn to draft and manage commercial contracts that enhance competitive advantage, apply standard terms and conditions effectively, and manage supplier performance and dispute resolution to improve operational outcomes. Tailored for professionals in oil and gas, this course blends industry-specific insights with practical skills for maximizing contract effectiveness.

Course Objectives:
Master the end-to-end procurement and contract management process.
Identify and address industry-specific risks in oil and gas contracts.
Apply effective contractual tools to enhance organizational competitiveness.
Implement standard contract terms and tailor them to organizational needs.
Develop robust commercial contracts that improve supplier performance.
Plan for and manage the resolution of contractual disputes.

Day 1: Introduction to Oil and Gas Contract Management
Fundamentals of Contract Management in Oil and Gas
Understanding the unique context of contract management in the oil and gas industry.
Procurement Process Overview
Examining the procurement lifecycle, supplier selection, and cost considerations.
Roles and Responsibilities in Contract Management
Outlining contract management functions and key stakeholders in oil and gas.
Activities: Group discussions on industry-specific challenges; case studies in oil and gas procurement.

Day 2: Identifying and Managing Contractual Risks
Risk Identification in Oil and Gas Contracts
Key risks specific to the industry, including market volatility and regulatory risks.
Risk Allocation and Mitigation Strategies
Effective techniques for allocating risks through contract terms.
Impact of International Regulations and Compliance
Understanding regulations affecting cross-border contracts in oil and gas.
Activities: Workshop on risk analysis and allocation, real-world scenarios in oil and gas contracts.

Day 3: Contractual Tools for Competitive Advantage
Using Contracts to Enhance Competitive Advantage
Techniques to leverage contracts for strategic and financial gains.
Applying Standard Contract Terms and Conditions
Exploring typical terms used in oil and gas contracts and their applications.
Negotiation Techniques for Optimal Outcomes
Effective negotiation approaches to secure favourable contract terms.
Activities: Role-playing negotiation scenarios, exercises on drafting competitive contract terms.

Day 4: Improving Supplier Performance and Contract Development
Creating Effective Commercial Contracts
Steps for drafting commercial contracts that drive value and efficiency.
Supplier Performance Monitoring and Evaluation
Methods for tracking supplier compliance and performance metrics.
Performance-Based Contracting
Incentivizing suppliers to align with organizational goals through contract terms.
Activities: Case study on performance-based contracts; exercises on developing supplier KPIs.

Day 5: Managing Disputes and Course Wrap-Up
Planning for Contractual Dispute Resolution
Common disputes in oil and gas contracts and proactive resolution planning.
Dispute Resolution Techniques
Using negotiation, mediation, and arbitration for conflict resolution.
Final Review and Assessment
Consolidating course learnings through discussions, assessments, and Q&A.
Activities: Group discussion on dispute resolution case studies, final assessment and practical quiz