Oil and Gas Business-Legal and Taxation Perspective-OG 8011

12th March - 23rd March 2018 (Dubai, UAE) 2nd July - 13th July 2018 (London, UK) 19th November - 30th November 2018 (London, UK)

Course Overview

Companies and players (be it investors or producers or consultants) operating in the oil and gas
industry need to understand the bottom line tax implications of exploration and drilling projects and
the underlying legal agreements. Such legal agreements not only have individuals and corporate
entities as parties but also host countries in this case their Governments, making it the more
complicated. There is always a relationship between legal agreements underlying the relationship of
host governments with investors in the oil and gas industry and the eventual Government take in form
of taxes making the more important to understand the whole legal and taxation concepts in the
industry as well as the international concept of taxation.

Learning Outcome

Participants will be able to:
Identify the operating functions of an oil and gas exploration and production company and use of
industry terminology appropriately
Understand the various agreements in use in oil and gas industry and their commonalities and be
able to interpret them.
Identify the various types of oil and gas expenditures and their classification especially for tax
Recognise and distinguish classes of lease and oil and gas property sale and their tax implications
Distinguish between a tax-free sharing arrangement and a taxable transfer of oil and gas properties

Indicative Contents

Identifying the variety in legal agreements within the oil & gas industry
Joint ventures and Strategic Alliance
Memorandum of Understanding
Confidentiality Agreements
Joint Bidding Agreements
Ownership of Mineral Rights
Joint operating agreements
Crude oil & gas sales agreement
International Petroleum Regimes
Common features of host government contracts e.g Production Sharing Contracts, Service contracts,
Carry Agreements
Buy backs or exploration of risk in service contracts
Acquisition of oil and gas properties
Farm-in and Farm-outs agreements
Share sale and asset sale agreements including transfer of participating interests
The nature of oil and gas industry and property acquisitions
Exploration for oil and gas – Geological & Geophysical costs
Development of oil and gas properties
Depletion of oil and gas properties
Depreciation of oil and gas leases and well equipment
Conveyances, Deal structuring and Financing issues
International Taxation of oil & gas activities and its management
More Detail
Duration 10 working days
Certification A certificate of completion is granted on successful completion of the programme.
Location Dubai-UAE, London-UK
Travel and accommodation Travel and accommodation to be paid for at source by delegates
Fees Course fees for tuition, materials and certification: £4,750 (Excl. VAT) per delegate for 2 weeks.
Zenith Professional Training