Book Description

This book covers master service agreements, drilling contracts and construction agreements in the upstream oil and gas business with chapters on performance risk, incident risk and insurance, as well as negotiating, drafting and managing contracts. The author is a recognized expert with more than 30 years of experience in this area. This is an essential reference book not only for contract administrators, but also for purchasing groups, project managers and lawyers for both operators and contractors. The book provides critical information not taught in seminars, such as the chapter on the rules that apply when work is being performed, but there is no contract or only a very brief one. It analyzes how the region of the world in which a company operates influences which terms are the most heavily negotiated. It describes how insurance influences the drafting of various provisions related to allocating risk for personal injury, property damage and pollution. The book discusses not only the best practices in contract risk management, including limitation of liability, indemnity, insurance, and warranties, but also how they have evolved over time and the reasons for the evolution.