Full Description
The petroleum industry is highly specialised. Over the centuries, the industry has developed a large number of standard petroleum arrangements and contracts that are not familiar to all across the industry and even less to the outside world. Each arrangement/contract has its own detailed terms and provisions.This major work provides the unique combination of an encyclopaedia with commentary for the entire chain of petroleum activities. This first volume of the encyclopaedia deals exclusively with upstream activities. First, it deals with all types of petroleum title with the host government (eg, concession agreements, production sharing agreements and service agreements). Second, it covers all the relevant consortium agreements between investors (eg, joint bidding agreement, joint ventures and joint operating agreements). It also deals with the relevant players in the sector varying from the international oil company to the national oil company; the relevant regulations in the sector (eg, petroleum law, fiscal terms, health, safety and environment and procurement) and the key mechanisms for raising funds in the upstream sector. Lastly, the book covers acquisition mechanisms with government authorities and private parties, and the key issues concerning governing law and dispute resolution.This approach enables all involved in the petroleum industry to master the industry's necessary legal terms in one publication. A follow-up volume will focus on the remaining petroleum activities involved in the transportation, refinery, market and distribution phases. Both volumes will feature chapters by leading experts across the globe in order to provide the best industry practices and standards. This encyclopaedia will serve as a valuable tool for lawyers, professionals in industry, consultants, academics, engineers, geologists who are interested in understanding the key legal terms and provisions of the oil and gas industry.
Contents
Introduction 5Dr Eduardo G PereiraSTR HoldingPart I: Petroleum titleRoyalty and tax regime 7Marc HammersonAnthony MartinezAkin Gump Strauss Hauer & Feld LLPProduction sharing agreements 33Anna OvcharovaRosneftService agreements 51Anthony PattenShearman & SterlingHybrid agreements 63Harry W SullivanConocoPhillipsPart II: Consortium agreementsJoint bidding agreements 71Marc HammersonAnthony MartinezAkin Gump Strauss Hauer & Feld LLPJoint study agreements 83Dario AriasResources Energy ConsultingJoint venture agreements 93Debra J VillarrealThompson & Knight LLPJoint operating agreements 103Dr Eduardo G PereiraSTR HoldingLifting agreements 121Tracey GreenawayKate SiopisAllensJoint sales and marketing agreements 133Luis PachecoVeirano AdvogadosUnitisation and unit operating agreements 147Andrew B DermanThompson & Knight LLPDanielle LudwigL.O. Baptista, Schmidt, Valois,Miranda, Ferreira, AgelPart III: Key stakeholdersGovernmental authorities 163Roman OpimakhEconomic Reforms Coordination CenterNational oil companies 175Jose Alberto BuchebPetrobrasInternational oil companies 187Anna OvcharovaRosneftIndependent oil and gas companies 193Winston FritschPetra EnergiaService companies 203Andrea FalcaoSchlumbergerPart IV: Regulatory frameworkNational constitution 209Kim TalusUniversity of Eastern FinlandPetroleum law 213Kim TalusUniversity of Eastern FinlandHealth, safety and the environment 219John PatersonUniversity of AberdeenProcurement 229El-Tayeb Murkaz AliUniversity of KhartoumSurface rights 243Luis PachecoVeirano AdvogadosApplicable laws, part I 247Andrew MelsheimerThompson & Knight LLPApplicable laws, part II 253Kim TalusUniversity of Eastern FinlandPart V: FinanceEquity participation 257Anna OvcharovaRosneftIPO 265Victoria YounghusbandSpeechly Bircham LLPRBL 275Nick Ross-McCallHuw ThomasAshurst LLPPart VI: Mergers and acquisitionsDirect acquisitions from the host government 297Dario AriasResources Energy ConsultingContracts for the sale, exchange or economic transfer of interests 307Peter RobertsAndrews Kurth LLPPart VII: Governing law and dispute resolutionPetroleum title 325Andrew MelsheimerThompson & Knight LLPApplicable law 327Paul CohenWilliam M KatzThompson & Knight LLPAbout the authors 333Index 341
