1. Introduction to Exploration & Production (E&P) Arrangements

• Overview of ownership and operational models in oil and gas

• Importance of contractual frameworks for risk sharing and investment

• Roles of governments, national oil companies (NOCs), and international oil companies (IOCs)

2. Types of Petroleum Agreements

• Concession agreements

• Joint Ventures (JVs)

• Production Sharing Contracts (PSCs)

• Service contracts and risk service agreements

3. Joint Ventures (JVs)

• Definition and purpose of JVs in oil & gas operations

• Types of JVs: equity, contractual, and unincorporated

• Structure and governance of JV partnerships

• Advantages: shared risk, shared expertise, cost efficiency

• Challenges: management conflicts, decision delays, profit sharing

4. Production Sharing Contracts (PSCs)

• Concept and evolution of PSCs

• Key terms: cost oil, profit oil, and government take

• Stages of a PSC: exploration, development, and production

• Rights and obligations of contractors and governments

5. Comparison Between JVs and PSCs

• Ownership of resources

• Cost recovery mechanisms

• Risk and reward distribution

• Typical applications by region (e.g., Middle East, Africa, Asia)

6. Fiscal and Legal Frameworks

• How fiscal terms influence project viability

• Taxation, royalties, bonuses, and cost recovery limits

• Legal considerations and dispute resolution mechanisms

7. Role of National Oil Companies (NOCs)

• Partnership models with international operators

• State participation and local content requirements

• Balancing national interests with investor incentives

8. Risk and Liability Allocation

• Exploration and development risks

• Operational and financial liabilities

• Insurance and indemnity provisions

9. Contract Negotiation and Management

• Key negotiation principles and strategies

• Stakeholder alignment and compliance management

• Monitoring performance and contract amendments

10. Emerging Trends in E&P Agreements

• Hybrid contracts and flexible fiscal regimes

• Sustainability clauses and environmental obligations

• Digitalization and transparency in contract management

11. Case Studies

• Example: Typical PSC model in an offshore field

• Example: JV arrangement between NOC and IOC

• Lessons learned from real-world agreements

12. Module Summary and Evaluation

• Recap of key concepts and contract structures

• Knowledge check or group discussion on JV vs. PSC decision-making