How important is contract management planning in the oil and gas industry?

April 4, 2011 - PRLog -- Due to the new trends in the contemporary Oil and Gas industry, particularly in the complicated upstream and offshore projects and as a result of the dynamic changes experienced nowadays in the relationship between different players in the industry such as IOCs/NOCs/SOCs, varieties of cooperate formula such as JV, PPP, PA, JOA, Alliances, and Consortium as well as different models of contracts such as EC, EP, EPC, BOT, GC, MC, PSC, TSA, PSAC, concession and service contracts have been introduced and/or optimised in the nowadays O&G industry.

To manage the new dynamic Oil and Gas industry, it is not sufficient just to manage the Oil and Gas project but a duty of care and great considerations should also be granted to the concerned Oil and Gas contract(s). That’s why nowadays the Oil and Gas contract management become as prominently important as the project management. However, this unruly horse of Oil and Gas contract cannot be administered or controlled on a partial basis or timely manner without having a proper vision and mission for its lifecycle and chain of activities commencing from feasibility study to negotiation, conclusion, execution and close out of the Oil and Gas Contracts. Without being engaged in the strategic and tactical issues of industry Oil and Gas contracts, and without implementing a long term A-Z comprehensive Oil and Gas contract management plan, every efforts of the conventional approach of project management will be regretfully destined to the total failure.

Dr S N Ebrahimi, Ex-Director of Legal & Contractual Affairs, PEDEC/NIOC and Professor of Oil and Gas Laws & Contracts, Tehran University will be leading a course for Neoedge on “Principles of and Procedures for Negotiating, Drafting and Managing Oil and Gas Contracts” to be held in two locations; Johannesburg, South Africa from 09 to 12 May 2011 and Kuala Lumpur, Malaysia from 21 to 24 June 2011.

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To find out more about this event, please contact:
Ms Rilla Eas
Marketing Manager
DID: +65 6557 9183
Email: rilla.eas@neo-edge.com

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NeoEdge is a top-notch business media and consulting company that aims to serve the corporate world with integrity and excellence by providing cutting edge business intelligences and creating high value networking opportunities.