This book is written and edited by experts and academics already active in the oil and gas industry, and addresses students and practitioners alike. It aims to familiarize them with salient features of oil and gas service contracts. The book provides a concise description and, to a lesser extent, analysis of the main features of service contracts of the types commonly used in the oil and gas industry. Writers and editors come from different legal traditions and practice in different jurisdictions, including UK, Iran, Brazil and Mexico. Service contracts are as broad as their name suggests, comprising a wide array of contracts. However, a clear distinction exists between contracts where one party to the contract is a sovereign state or neither is. This has been the basis for organizing the present book in two parts.
This book focusses on key practical issues faced by oil and gas companies in different parts of the world in negotiating and implementing Joint Operating Agreements.
This book provides a comprehensive overview of the key aspects and contracts involved in the process of developing oil and gas projects, with an emphasis on offshore developments. Project development in oil and gas carries with it numerous unique risks and challenges. By identifying and managing risk through the various contract stages, each stage of the project is seen in perspective and therefore gives readers a better understanding of how that stage was arrived at and what is expected to come later. To do this, the authors use illustrative international case studies from past and current projects, thereby deepening the reader’s understanding and awareness of risk from practical experience, as well as suggesting answers for those who are involved in developing oil and gas projects. The Application of Contracts in Developing Offshore Oil and Gas Projects is intended for project owners, project managers, contractors, finance managers, commercial managers and lawyers who seek to understand the subject from a practical point of view.
Inhaltsangabe:Introduction: The petroleum fiscal system for a country is essentially the taxation structure, including royalty payments, that has been established by legislation. More broadly, the fiscal system includes all aspects of the contractual and taxation framework that governs the relationship between the host government and an international oil company. Worldwide, there are many different fiscal systems with different taxation and contractual terms. These vary from country to country and some countries use more than one system. Countries, for example, may offer concessionary system arrangements or service and production sharing agreements. Whichever system prevails, the issue for an oil company is how can it recover costs expended and how will the profit be divided. This depends upon tax regulations and the principles of the economics of the life of a field. The focus of this book is on the mechanics of the various kinds of fiscal systems and the factors that drive exploration and development economics. The emphasis is on practical aspects of petroleum taxation and industry/government relationships. There is also fertile ground for considering the philosophy of petroleum taxation which has changed the industry. Legal and operational aspects of contract/fiscal terms are also examined to provide a foundation in the dynamics of international negotiations. Both industry and government viewpoints are addressed in this book since a complete grasp of the subject requires an understanding of the aims and concerns of both sides. There are few things more discouraging for a government s national oil company than an unsuccessful licensing round. Yet prolonged, inconclusive negotiations can be equally frustrating for oil companies. This book has been written for those interested in petroleum taxation and international negotiations, and the way to carry out successful exploration and development projects. Much of the subject has evolved years ago whilst some aspects of taxation are timeless. Examples are included to give the reader a wide perspective about the implementation of fiscal systems. The terminology has changed over the years and will continue to develop. There is little standardisation of terms in the industry and the abundance of jargon can be rather daunting. The subjects covered in this book are often simple concepts wrapped up with industry and legal jargon. A glossary is provided to help with this. Much of the material provided [...]
This book addresses a question of importance for both theory and practice: Why are joint venture agreements preferred over other types of agreements such as concession agreements, service contracts, and production sharing agreements in the Qatari gas industry? On a theoretical level, the author analyses this decision-making process by developing an approach that integrates a micro-level analysis, more specifically within international oil companies, with a macro-level analysis that spring from the organisational culture of the Qatari gas industry. At the micro level, the author proposes John Dunning’s eclectic paradigm (as one set of theoretical ideas) to explaining one element of the decision-making process leading to the preference for joint venture agreements, that is, that of international oil companies. At the macro-level, the author proposes Antony Giddens’ structuration theory (as another set of theoretical ideas) to explaining another part of this decision-making process, that is, how it is being shaped by the organisational culture of the Qatari gas industry. On an empirical level, the proposed book applies a combination of a micro-economic approach such as Dunning’s eclectic paradigm with a macro-sociological approach such as Giddens’ structuration theory by empirical investigation. Grounded on a qualitative strategy that focuses on the meaning-making which brings together different perspectives of this decision-making process including those of international oil companies and the organisational culture of the Qatari gas industry, the proposed book utilises a case study design, named the case of the Qatari gas industry. The author employs a triangulation of data collection techniques to access empirical data: analysing official documents and semi-structured interviews (a sample of the interview questions are included in an appendix to the proposed books). In line with the qualitative nature of this proposed book, a thematic Analysis is adopted to interpret data based on Dunning’s eclectic paradigm at the micro level and Giddens’ structuration theory at the macro level. In doing so, this book connects theory with practice by investigating the preference for joint venture agreements in the case of the Qatari industry by the combined application of one of the most effective frameworks for explaining foreign direct investment, named Dunning’s eclectic paradigm along with the most complex sociological framework that offers a rich definition of organisational culture, named Giddens’ structuration theory. Audience could include academics, professionals, and graduate and senior undergraduate students.
In this book, the author draws upon his training in political science and experience as an energy consultant at Atlantis, Inc. It explores the conflicting interests of host and firm, and discusses the way firms use political risk analyses leads us to the issue of managing political risk.
Energy is a key resource for transformational development globally. Oil and gas continue to play a key role in this sector irrespective of the gradual transition towards renewables and will continue to do so in most developing and emerging economies in the near future. The industry is complex and highly capital intensive not only with significant risk, but also with significant benefits. Such a complex but important sector is generally not well understood both in academic and policy circles. This book fills this void by serving as a comprehensive reference to the oil and gas sector, with a focus on emerging markets and developing economies (EMDEs). It offers in-depth coverage of the critical and contemporary issues in the economics of the oil and gas industry by carefully integrating the relevant theoretical underpinnings and practical policy issues across the value chain of the industry in relation to the development, fiscal arrangements, and the economic and financing aspects of the industry. These insights will significantly deepen the understanding of the industry and extend knowledge of the sector in ways that existing books do not. The book includes relevant cases and, thus, will serve as a valuable resource for students taking courses in market analysis of the oil and gas industry, energy economics, development economics and finance, environmental and resource economics, the political economy of the extractive industry, and development studies. Researchers and practitioners working in these areas will also find the book to be a useful reference guide.
This book critically examines different forms of petroleum contracts, the historical perspective of the oil and gas industry and the political economy of the petroleum development in Iran. In doing this, the author provides analysis of the concept of concession in oil and gas development. This is discussed through the main forms of concession contracts; namely, the classic concession contract (CCC) and the new concession contract (NCC). The book ties together much of the existing work on the history of oil and gas regulation in Iran and builds on that foundation to propose a coherent and balanced approach within the framework of the NCC. To consider the role of the NCC in developing national upstream oil and gas industry, comparative examples are drawn from countries currently using, or having previously used, NCC oil and gas contracts. The selected developed and developing countries are Brazil, Thailand, the United Kingdom, Australia and Norway. The analysis considers the extent to which the NCC has served to advance the objectives and national interests of the national governments in this industry. The book involves a comparative exploration of the utilisation of NCCs in other jurisdictions and synthesises a framework through which Iran may develop its underutilised oil and gas resources. Of interest to academics, students and practitioners throughout the world, this book focuses on the relevant aspects of Iran’s Constitution and natural resource laws and makes recommendations for law reform to Iran’s legal frameworks.
