Courses

Who owns the oil, who decides who may explore for it and how are the revenues shared? In this course for professionals and candidates for the oil sector and for suppliers, you follow the new business team of a fictitious operator as it analyses countries, contracts and partners. Understand sovereignty over natural resources and the State's policy, regulatory and commercial participation roles, with the ministry, the regulator, the concessionaire and the national oil company (NOC). Compare the concession or licence, with royalties and taxes, the production sharing contract, service contracts and joint operating agreements (JOAs), with illustrative numerical examples. Describe licensing rounds, award criteria and the phases of a contract, from exploration to abandonment, and evaluate the bids in a fictitious round. Distinguish the roles of the NOC, the international oil companies (IOCs), the operator and the non-operators, including carried interest and the management of conflicts of interest. Finally, identify the obligations on transparency under the EITI Standard 2023, local content, environment, safety and decommissioning. Aligned with the Natural Resource Charter and the EITI Standard 2023. It presents international models; it is not legal or tax advice. The course is delivered in Portuguese.

What you will learn

• Explain who owns petroleum resources and how the State organises the sector, distinguishing the policy, regulatory and commercial participation roles.
• Compare the concession or licence, the production sharing contract, service contracts and joint operating agreements.
• Describe how blocks are awarded, the award criteria and the phases of a petroleum contract, including relinquishment of areas.
• Distinguish the roles of the national oil company, the international oil companies, the operator and the non-operators, including carried interest.
• Recognise conflicts of interest in relations between partners and in the governance of the national oil company, and indicate how they should be managed.
• Identify the cross-cutting obligations of a petroleum contract: transparency (EITI Standard 2023), local content, environment, safety and decommissioning.

Modules

1. Petroleum resources and the role of the State57 min
2. Contractual models57 min
3. Licensing and award of blocks56 min
4. NOCs, IOCs and partners57 min
5. Transparency and other regulatory obligations58 min

Who it is for

Professionals and candidates for the oil sector, and suppliers