Courses

Who pays when a crane drops a container on a platform deck? And when the rig stops while waiting for materials from the operator? This Level 2 course explains the models and clauses that make up an oilfield services contract: lump sum, unit rate, reimbursable and day rate, with operating, standby, repair and moving rates; reciprocal indemnities (knock-for-knock), with the company and contractor groups, third parties, pollution, well control and consequential loss; insurance, waiver of subrogation, limits of liability and liquidated damages; warranties, KPIs, force majeure, suspension and termination; and reading the contract through a buyer's eyes, with a review checklist. It includes drag-and-drop activities, hotspots, a case study and a decision scenario. Industry models such as those from LOGIC and the IADC are used for reference only; the effect of each clause depends on its wording and the applicable law. The course is delivered in Portuguese.

What you will learn

• Distinguish lump sum, reimbursable and day rate contracts and choose the right model for each situation.
• Explain how reciprocal indemnities (knock-for-knock) work and their most common exceptions.
• Relate the insurance clauses to the contract's indemnities and limits of liability.
• Interpret the warranty, performance, force majeure, suspension and termination clauses of an oilfield services contract.
• Analyse a services contract and identify risks and gaps before signature.

Modules

1. Remuneration models95 min
2. Reciprocal indemnities (knock-for-knock)73 min
3. Insurance and limits of liability72 min
4. Warranties, performance and operational clauses77 min
5. Reading a services contract through a buyer's eyes73 min

Who it is for

Contract managers, procurement, legal