Although the price of oil has dropped significantly in recent months, the reality is that it will not affect the rate of production in the GCC countries. However, operators need to ensure that they are cautious by isolating areas of overspend and wastage through effective procurement strategies.
Given these changes in the market, companies are now reviewing a variety of different financial models for existing projects and are re-negotiating existing contractual obligations whilst also ensuring these new risks are being managed at the initial stage of the negotiations to avoid unnecessary disputes.
The Commercial Series in Oil and Gas (31 May - 3 June 2015, Abu Dhabi) will include a three day conference covering procurement, contracts and project finance in the hydrocarbon industry and a workshop providing in depth sessions on cost reduction strategies, managing and enforcing robust contracts whilst minimising risk and project finance prospects and advantages for Middle East region.
Click here to download the agenda! http://bit.ly/1A7vKBU
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