From Bernama: Oil & Gas Firms Advised To Be Cautious When Signing Contracts


Dateline 2010-10-29:

Malaysian oil and gas firms are advised to be cautious when signing the contracts, particularly on the technical and legal aspects.

Senior legal consultant of Straits Consulting Group, Primila Edward, said they must do their homework where parts of the technical and legal aspects were concerned.

“Negotiate the technical aspect specifications to ensure that they can minimise losses and damages.

“Legally, you need to cover your back with clauses that will actually stick in a certain sort of situation such as unexpected damages,” she said.

Edward said this in her paper, “Contractual Lessons Learnt from Deep Water Horizon” at the Oil and Gas Asia Pacific 2011 Conference here Thursday.

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