Engineering Procurement and Construction (EPC) Contracts for Energy Industry

Introduction

For complex energy related projects including power plant projects, the preferred contract module used is normally the EPC (Engineering, Procurement, Construction) or EPCIC (Engineering, Procurement, Construction, Installation & Commissioning ) Contracts.

Though it is the preferred method it is not without its issues and mastering the ins and outs of the EPCIC contracts will prove to be a worthwhile endeavour in mitigating risks and liabilities that are likely to arise in these contracts.

EPCIC contracts are uniquely challenging and parties who are currently involved or will be involved in these types of contracts which are mainly large and complex and often fast-track must find ways to reduce potential financial losses through effective contract negotiation, drafting, and management.

Mastering the contractual clauses will give you the know-how to effectively implement EPC & EPCIC contracts to ensure a successful project.

This GLOMACS Engineering Procurement and Construction (EPC) Contracts for Energy Industry training course is specifically designed to address the key issues as it relates to all the parties involved in the contract. It give you the best approach on how to allocate and manage risks, liabilities, Force Majuere events. You will learn effective contracting strategies for successful EPCIC project delivery.

Objectives

The Engineering Procurement and Construction (EPC) Contracts for Energy Industry training course seeks to ensure that the participants will:

• Be skilled in EPC contract negotiation and administration
• Be part of a team able to manage risks in EPCIC contract
• Better execution and project management to minimize risk delay and costs over-runs
• Safeguard the projects essentials and maintain contractor relationships for long term success and efficiency
• Achieve the project goals in line with company’s overall objectives

Training Methodology

The participants to this training course will receive a thorough training on the subjects covered by the seminar outline with the Trainer utilising a variety of proven learning teaching and facilitation techniques.Training methodology includes interactive session with role playing, case studies, discussion groups and scenario building and the high- point of the training course being a simulation exercise of an EPCIC contract negotiation involving interactive role play by the participants.

This training course will provide the participants an ideal opportunity to improve and sharpen their skill sets in planning, negotiating and managing EPC contracts.

Organisational Impact

EPC contracts is the preferred contract module for major complex projects in the energy sector. Your organisation will benefit from this training course by :

• Gaining expertise and improving knowledge and skill sets of personnel dealing with EPC contracts on its essential terms and conditions
• Knowledge of EPC contracts to work out best contract strategies
• Understand the risk factors in EPC and how to mitigate them before they affect profits and bottom lines
• Enhancing internal capacity to manage key contractual risks
• Better managing claims and disputes and avoiding adversarial approaches
• Enhancing contract personnel negotiation skills

Personal Impact

The participants will gain by attending this training course, as a result of:

• Appreciating the terms and conditions of EPC contracts
• Managing and mitigating risks associated with EPCIC contracts
• Ensuring smooth contract administration
• Dealing with critical issues involved with contract completion
• Choosing most appropriate form of dispute resolution
• Enhancing your ability to negotiate and manage claims and disputes with confidence