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

15th February - 26th February 2021 (Dubai, UAE) 14th June - 25th June 2021 (London, UK) 22nd November - 3rd December 2021 (Houston, Texas, USA.)

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 purposes
  • 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 This is a two-week programme spread over 10 working days working days
Certification A certificate of completion is granted on successful completion of the programme.
Location Dubai-UAE, Houston-Texas-USA., London-UK
Travel and accommodation Travel and accommodation to be paid for at source by delegates
Fees £5,250 (Excl. VAT) per delegate for 2 weeks.
Zenith Professional Training