The exploration for, and production of, petroleum resources commences with the solicitation, evaluation and award of exclusive rights to a designated geographic area or geologic zone. A bidding round for petroleum exploration is a technical as well as a commercial process. The proposed work program in terms of seismic acquisition and exploration drilling is mainstay of the technical considerations. Other technical considerations include the availability of existing seismic data, well data for previous drilling programs, discoveries in adjacent blocks, and relinquishment obligations. Commercial elements include the budget for the exploration programme and the fiscal terms that would apply should a discovery result in production.
The course is designed for:
During the workshop, participants will gain an in-depth understanding of how to plan and participate in a bidding round for an exploration block from the standpoint of both the entity representing the Host Government (ministry, commission or NOC) as well as the exploration company. Specific attention is given to the design and documentation of the bidding round as well as the criteria for evaluation of bids. Participants are taken through specific reviews to demonstrate the application of the material covered in the topical presentation.
Commercial & Legal Arrangements
Design of Bidding Rounds
Review: Sample Bidding Round Notification
Scheduling Bid Round
Qualification of Bidders
Exercise: Review of Sample Bid Package
Exercise: Evaluation of Competing Tenders
Exercise: Description of Mandatory Work Program