Unitization in Oil and Gas Industry: Issues and Challenges- OGT 8004
London: £6,250.00 (Excl. VAT) per delegate for 2 weeks. Dubai: $8,500.00 (Excl. VAT) per delegate for 2 weeks.
The challenges of searching, boring and getting a substance that is hidden underground in vaguely defined sub-surface strata are numerous but none more important than answering the three questions (i) where is the resource? (ii) how much is there? and (iii) who owns it?
As part of ongoing processes of managing oil and gas reserves, it is important for investors, operators and host governments to develop strategies for dealing with discoveries that extend beyond certain operational or geographical boundaries. This course will be suitable for those responsible for joint management of oil and gas reservoir with multiple owners of rights in the discoveries.
Participants will have better understanding of:
Fundamentals and goals of unit formation
The rule of capture and boundary determination
Extant laws regulating pooling and unitisation
Unit operating agreements and accounting procedures
Governments’ regulations and statutory agencies
Overview of unitizatization
Pooling and unitisation regulatory framework
International legal principles, joint and cross boarder unitisation
Unit negotiations, determination and revision of unit factors
Unit operating agreements, laws and regulatory authorities
Fundamentals & goals of unitisation – correlative rights (the “fair share” doctrine)
Pooling – voluntary v. compulsory unitisation
Participation and investment factors
Reservoir definition & well production
Relationship to license & production sharing contract
Inclusion of other interests (royalty & overriding royalty)
Inclusion of non-straddling reservoirs & facilities
Lifting, balancing & associated agreements
Licenses & extensions
Assignments & fractional interests
More Detail | |||
Duration | This is a two-week programme spread over 10 working days. | ||
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Certification | A certificate of completion is granted on successful completion of the programme. | ||
Location | (Dubai, UAE), (London, UK), (London, UK) | ||
Travel and accommodation | Travel and accommodation to be paid for at source by delegates. | ||
Fees |
London: £6,250.00 (Excl. VAT) per delegate for 2 weeks. Dubai: $8,500.00 (Excl. VAT) per delegate for 2 weeks. |