Concept of Unitisation in the Oil and Gas Industry
Overview
This course will be suitable for those responsible for joint management of oil and gas
reservoir with multiple owners of rights in the discoveries.
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.
Learning Outcomes:
Delegates will at the end of the course be better able to:
- Fundamentals and goals of unit formation
- The rule of capture and boundary determination
- Extant laws regulating pooling and unitization
- Unit operating agreements and accounting procedures
- Governments’ regulations and statutory agencies
Indicative Contents
- Overview of unitization
- Understanding the rule of capture
- Pooling and unitization regulatory framework
- International legal principles, joint and cross boarder unitization
- Unit negotiations, determination and revision of unit factors
- Unit operating agreements, laws and regulatory authorities
- Fundamentals & goals of unitization – correlative rights (the “fair share” doctrine)
- Pooling – voluntary v. compulsory unitization
- 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
- Compulsory unitization
Duration & Certification
This is a one week programme spread over 5 working days. A certificate of completion is granted on successful completion of the programme.
Location & Fees
- The programme will be held in Lagos (Nigeria) and Accra (Ghana).
- Travel and accommodation to be paid for at source by delegates
Course fees for tuition, materials and certification: N500, 000.00 per delegate for 1 week.