Our industry has already come up with all the instruments we need for efficient contracting. That’s because every situation, risk, clause, scenario has already been negotiated before you get into the room with your contractor or operator. This seminar’s focus is to give you the overview of the major industry model contracts and to explore what’s standard in contracting on critical points like liabilities, indemnities, risk for people and property and risk related to third parties – those points that frequently become an argument between the contracting parties in upstream oil and gas services and supply contracts. 

Contracts are “veins” of our industry

During the last few years we are witnessing aggressive attacks directed to diminish significance of oil and gas in the world’s energy mix, even though there is a clear dependency on efficient hydrocarbons extraction, as well as other sectors like midstream and downstream. As a community, albeit fierce competition, we need to become more lean and effective in how we do contracting. This can be achieved by bringing all partners – operators, suppliers, contractors – to a unified understanding of contractual risk allocation principles that have allowed our industry to grow and thrive.