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Purchase And Sale Agreement Oil And Gas

Purchase And Sale Agreement Oil And Gas Template for Indonesia

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Key Requirements PROMPT example:

Purchase And Sale Agreement Oil And Gas

"I need a Purchase and Sale Agreement Oil and Gas under Indonesian law for a 5-year natural gas supply arrangement starting January 2025, between our production company and a local power generation facility, with monthly delivery of 100,000 MMBtu and specific provisions for force majeure events during monsoon season."

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Document background
The Purchase And Sale Agreement Oil And Gas is a critical document used in Indonesia's energy sector for establishing legally binding arrangements between sellers and buyers of oil and gas products. This agreement type is essential when parties seek to establish a formal trading relationship for oil and gas products in Indonesia, whether for domestic supply or export purposes. The document must comply with Indonesia's Oil and Gas Law (Law No. 22/2001) and various implementing regulations, including those concerning domestic market obligations, local content requirements, and pricing mechanisms. It typically includes detailed provisions on product specifications, delivery terms, pricing formulas, measurement procedures, and operational requirements. The agreement is particularly important given Indonesia's regulated energy sector and the strategic nature of oil and gas resources in the country's economy.
Suggested Sections

1. Parties: Identification of the seller and buyer, including their legal status and authority to enter into the agreement

2. Background: Context of the agreement, including relevant licenses and permits held by parties

3. Definitions: Definitions of technical and legal terms used throughout the agreement

4. Sale and Purchase Obligation: Core obligations of the parties regarding the sale and purchase of oil/gas

5. Quantity and Quality: Specifications of the product quantity and quality standards

6. Delivery Point and Title Transfer: Specified location for delivery and transfer of ownership

7. Price and Payment Terms: Pricing mechanism, currency, payment method, and timing

8. Measurement and Testing: Procedures for measuring quantity and testing quality of products

9. Nominations and Scheduling: Process for scheduling deliveries and volume nominations

10. Transportation and Storage: Basic arrangements for product transportation and storage

11. Health, Safety, and Environment: Compliance with HSE regulations and standards

12. Force Majeure: Events constituting force majeure and consequences

13. Governing Law and Dispute Resolution: Application of Indonesian law and dispute resolution mechanisms

14. Term and Termination: Duration of agreement and termination provisions

15. Warranties and Representations: Standard and specific warranties by both parties

16. Confidentiality: Protection of confidential information

17. Notices: Communication procedures between parties

18. Miscellaneous: Standard boilerplate provisions

Optional Sections

1. Local Content Requirements: Required when the agreement must comply with specific Indonesian local content regulations

2. Export Requirements: Needed for international sales requiring export licenses and permits

3. Storage Facilities: Detailed terms when specific storage facilities are part of the agreement

4. Ship-to-Ship Transfer: Required for agreements involving marine transfer of products

5. Pipeline Transportation: Specific terms for pipeline delivery arrangements

6. Credit Support: Required when parties agree on additional financial security arrangements

7. Take-or-Pay Provisions: Optional minimum volume commitment terms

8. Price Review Mechanism: Optional provisions for periodic price reviews

9. Government Approvals: Required when specific government authorizations are needed

10. Carbon Credits/Environmental Attributes: Required when dealing with environmental aspects of gas trading

Suggested Schedules

1. Product Specifications: Detailed technical specifications of the oil/gas products

2. Pricing Formula: Detailed calculation of product pricing including adjustments

3. Delivery Schedule: Planned delivery dates and volumes

4. Testing Procedures: Detailed procedures for product testing and quality verification

5. Measurement Procedures: Detailed procedures for quantity measurement

6. Required Documents: List of operational and shipping documents

7. HSE Standards: Detailed health, safety, and environmental requirements

8. Facility Specifications: Technical details of relevant facilities

9. Contact Details: List of key contacts for both parties

10. Form of Notices: Standard forms for operational notices and nominations

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant legal definitions
Affiliate
Agreement
Applicable Law
API Gravity
Base Price
Business Day
Buyer
Cargo
Commercial Operation Date
Confidential Information
Contract Price
Contract Quantity
Contract Year
Delivery Point
Delivery Schedule
Effective Date
Force Majeure Event
Government Authority
Gross Heating Value
Indonesian Law
Initial Term
Inspection Agency
Letter of Credit
Local Content Requirements
Maximum Daily Quantity
Measurement Point
Minimum Daily Quantity
Month
Natural Gas
Nomination
Off-Spec Product
Operating Procedures
Party/Parties
Payment Due Date
Pipeline
Product
Product Specifications
Quality Standards
Quarter
Reasonable and Prudent Operator
Related Agreements
Seller
Shipping Documents
Storage Facility
Take-or-Pay Quantity
Technical Standards
Term
Terminal
Testing Procedures
Title Transfer Point
Transportation System
Unit of Measurement
Valid Claim
Year
Clauses
Parties
Recitals
Definitions
Sale and Purchase Obligations
Contract Term
Quantity
Quality and Specifications
Delivery
Title and Risk Transfer
Price and Payment
Measurement and Testing
Nominations
Transportation
Storage
Health Safety and Environment
Warranties and Representations
Force Majeure
Liabilities and Indemnities
Insurance
Local Content Requirements
Compliance with Laws
Confidentiality
Assignment
Taxes and Duties
Governing Law
Dispute Resolution
Termination
Notices
Records and Audits
Credit Support
Environmental Compliance
Change in Law
Take or Pay
Security
Government Approvals
Boilerplate Provisions
Relevant Industries

Oil & Gas

Energy

Utilities

Industrial Manufacturing

Power Generation

Petrochemicals

Maritime Transport

Infrastructure

Natural Resources

Energy Trading

Relevant Teams

Legal

Commercial

Trading

Operations

Supply Chain

Risk Management

Technical

Compliance

Business Development

Quality Control

HSE

Logistics

Regulatory Affairs

Relevant Roles

Commercial Director

Trading Manager

Legal Counsel

Contract Manager

Supply Chain Manager

Operations Manager

Risk Manager

Technical Manager

Compliance Officer

Business Development Manager

Energy Trading Analyst

Logistics Manager

Quality Control Manager

HSE Manager

Commercial Analyst

Regulatory Affairs Manager

Industries
Law No. 22/2001 on Oil and Gas: The primary legislation governing oil and gas activities in Indonesia, including exploration, exploitation, and trading activities
Government Regulation No. 35/2004: Implementing regulation for Law No. 22/2001, detailing upstream oil and gas business activities
Government Regulation No. 36/2004: Implementing regulation for Law No. 22/2001, covering downstream oil and gas business activities including trading
Minister of Energy and Mineral Resources Regulation No. 42/2018: Regulation on the priority of natural gas utilization in domestic market and pricing mechanisms
Indonesian Civil Code (KUHPerdata): Provides the basic framework for contracts and agreements in Indonesia
Law No. 25/2007 on Investment: Regulates foreign and domestic investment in Indonesia, including in the oil and gas sector
Minister of Energy and Mineral Resources Regulation No. 15/2013: Regulates the use of domestic products in upstream oil and gas activities (local content requirements)
Government Regulation No. 79/2010: Regulates cost recovery and income tax treatment in upstream oil and gas business activities
Law No. 32/2009: Environmental Protection and Management Law applicable to oil and gas activities
Presidential Regulation No. 146/2015: Implementation and supervision of strategic oil and gas trading activities
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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