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The current oil market is plagued by low and fluctuating oil prices. More and more oil and gas players are looking back to their contracts as a tool to safeguard them against this. This is due to the fact that contracts are extensively used to determine the rights and obligations of owners, contractor, service providers and host governments regardless of their location when engaging in business transactions such as joint operating agreements, production sharing contracts, drilling and services contracts.

Companies are renegotiating their contracts for better prices or linking it to the current oil prices, which defies the normal practice of oil, and gas contracts however this matter should not be overlooked as the fluctuating oil prices can cause losses for a company. New contracts are also being drafted to tackle the current oil prices. Besides these issues they are also looking into the liquidity cap, warranty provision and other risks in relation to oil price.

Join world-class companies and gain insights as they discuss and share their valuable experiences in how they fight back the effects of the current economic climate by utilising their contract as the ultimate weapon.