The Commercial Code of Practice (CCoP) is a voluntary code of conduct that outlines the necessary actions to drive improvements in commercial behaviours and efficiency in negotiations. The Code was updated by industry in 2016 to reflect the MER UK (maximising economic recovery from the UK Continental Shelf) Strategy to encourage greater efficiency and continuous improvement.
The CCoP is accompanied by the Negotiation Best Practice Guidelines appendix, which was produced by industry to highlight the positive industry behaviours required to ensure a timely and successful negotiation process.
Following the completion of a negotiation, conducting an ‘After Action Review’ is vital to ensure any lessons are learnt and aspects of good practice are highlighted and shared. Conducting these reviews is a Commercial Code of Practice commitment. To help drive improvements in this area, a series of templates and notes have been developed by Oil & Gas UK’s Commercial Managers Forum.
To sign up to the Code contact Oil & Gas UK’s Upstream Policy Team