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SEPTEMBER 2012 • 4 WHAT’S HAPPENING REGIONALLY United States: Scott Barber UPCOMING EVENT US Chapter Luncheon “A Perspectve on IOC/Host Country Relatonship” 11:30 a.m. - 1:30 p.m. Wednesday, October 17, 2012 Houston Club | 811 Rusk | Houston, Texas 77002 George Kahale III, Chairman, Curtis, Mallet-Prevost, Colt & Mosle LLP George Kahale III will share his views on the contentious issue of upstream government petroleum contract renegotiations and the relationship between International Oil Companies and Host Countries. Kahale is a renowned practitioner who has been the chairman of Curtis, Mallet-Prevost, Colt & Mosle LLP since 2008, after serving 15 years as the firm's Managing Partner. He has simultaneously maintained an active practice in both international transactions and international arbitration. Mr. Kahale has represented energy ministries and national oil companies in highly publicized and controversial contract renegotiation processes in Latin America and acted as lead counsel in major international transactions and infrastructure projects in the international petroleum industry in many oil and gas producing countries. He also has been lead counsel in several of the world's largest international arbitrations. Kahale's practice was the subject of a feature article in the June 2008 issue of The American Lawyer magazine. In February 2009, Latin Lawyer awarded its Restructuring Deal of the Year honor to a series of financing transactions in Venezuela to a Curtis team led by Mr. Kahale. In April 2009, The American Lawyer named Mr. Kahale one of its “Dealmakers of the Year” for his work representing KazMunayGas (KMG), the national oil company of Kazakhstan, in agreements for the future development of the Kashagan field. LARC: Ruben Sabatini UPCOMING EVENTS AIPN-YN Internatonal Conference Recepton 10 p.m. - 12 a.m. Sunday, October 21, 2012 Pestana Rio Atlantica Hotel | Deck Bar - Cobertura | Avenida Atlantica, 2964, Copacabana, Rio de Janeiro, Brazil After the Welcome Reception at the 2012 International Conference, join the Young Negotiators group for a late night reception. Drinks and hors d'oeuvres will be served. Registration fees are Members $15 | Non-members $25 | Students $10. Register at aipn.org/Events/LARC21October2012.aspx. See the next page for the Latn America Chapter Conference in Bogota! Middle East: Judith Kim RECENT EVENT “Iraq Oil & Gas: Recent Developments and Upcoming Issues” 7 - 10 p.m. Wednesday, October 3, 2012 The Capital Club, Signature Lounge | Dubai, UAE Kyle Stelma, Managing Director, Dunia Frontier Consultants Kyle Stelma is the Managing Director of Dunia Frontier Consultants, a market research and advisory firm based in Dubai, UAE that supports the oil and gas community as well as other multinationals throughout the MENA region. He has worked with CitiGroup in Mumbai, India, performing financial consulting for Indian conglomerates and later with a management consulting firm on private equity transactions in the Middle East and South Asia. Mr. Stelma has lived and worked in Mumbai, Dubai, and Germany for a number of years. He holds a B.S. in systems engineering from the United States Military Academy, and a M.A. in international finance from Johns Hopkins University SAIS. Europe-Africa: David Leckie UPCOMING EVENTS EA Chapter Event: Autumn Drinks 6 p.m. Thursday, October 4, 2012 Society of Advocates | Aberdeen, Scotland, UK Join your fellow colleagues in Aberdeen for a reception. A short welcome will be given by Uisdean Vass, Head of Oil & Gas in MMS. Drinks and canapés will be served. EA Chapter Breakfast Recepton - Paris 9 - 11 a.m. Tuesday, October 9, 2012 White & Case Paris LLP | Paris, France AIPN members and guests are invited to a meet and greet to get to know other Paris-based energy players and discuss current oil and gas issues in the context of growing energy challenges in France. Speakers Cyril Vock, Total, and David Leckie, Clyde & Co. LLP, will discuss respectively the new 2012 version of the AIPN Model Joint Operating Agreement, and the latest developments concerning the UK Bribery Act. RSVP required to Jordan Langot at jlangot@paris.whitecase.com See the next page for the EA Chapter Conference in Belgrade! Asia: Michael Arruda UPCOMING EVENTS Asia Chapter Events “Alignment of Interests – Costs and Transiton Issues” Wednesday, October 10, 2012 - MUMBAI Thursday, October 11, 2012 - NEW DELHI Daniel Johnston, Chairman, Daniel Johnston & Co. Cost Issues: One of the greatest source of anguish and concern for government officials around the world (especially with respect to the oil and gas industry) is the issue of "keeping costs down". Is there a mechanism that could be incorporated into IOC/NOC relationships to encourage companies to keep costs down? In his presentation, Daniel Johnston answers this question by presenting the 'Savings Index' – an index that provides mathematical proof of the alignment of interests on this issue and quantifies just how much of an incentive exists to save. There are types of contracts or contract mechanisms that are less likely to encourage cost savings but generally speaking most systems have healthy built-in incentives for companies to keep costs down, which will be explored in this talk. Daniel will focus on a number of questions that arise out of the Savings Index: Is there any hope for a better relationship? Is it possible to achieve an alignment of interests on development plans to keep costs down? What are the differences between strategic gold plating, opportunistic goldplating and plain old cheating? Transition Issues: Many petroleum arrangements have relatively straightforward terms for contract duration. (i.e., 30 years or so). However, many governments find themselves in a difficult situation when the end-of-contract-term approaches. Companies with whom the Government had relatively wellaligned interests previously no longer have incentive to invest further development or especially exploration capital. In this talk, discussion will revolve around (1) current uncomfortable situations that exist right now all over the world as well as (2) different aspects of grass-roots design, such as contract duration, extension, government participation, sole risk provisions, relinquishment provisions, and work programs. Dinner will be served at both events, and both are complimentary. Please RSVP to To reserve, contact: Sneha Shenoi at sshenoi@jonesday.com. More information: aipn.org/Events.aspx SEPTEMBER 2012 • 5
SEPTEMBER 2012 • 6 WHAT’S HAPPENING REGIONALLY Chapter Conferences LATIN AMERICA CHAPTER Workshop on Joint Operating Agreement October 25 - 26, 2012 Corporación Club El Nogal Buenos Aires Room Bogota, Colombia This regional chapter conference will focus on the 2012 Joint Operating Agreement approved updates and changes, explaining the reasons, analysis and discussion involved on its approval, as well as the impact on the future Operator-Non operator relationship. Sessions on the second day will address the updated JOA as it applies to Colombian law. aipn.org/Events/LARC25October2012.aspx Special thanks to event-sponsors Moyes & Co. EUROPE/AFRICA CHAPTER Energy Dependency, CO2 Emissions & Hydrocarbon Development in the Balkans October 30 - 31, 2012 Hyatt Regency Hotel Belgrade, Serbia Topics to include: • Petroleum Legislation & Regulation • Upstream Opportunities, Technical and Financial • Unconventional Oil & Gas • Hydrocarbon Transportation, Processing & Storage - Regional Supply and security - Retail and Logistics • Oil & Gas Finance in the Region aipn.org/Events/EA30October2012.aspx Special thanks to event-sponsors
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