Full Description
Although there has long been oil and gas activity in Africa, there has been a recent renewal of interest in the continent - particularly in jurisdictions without existing production. Countries with established industries continue to mature, develop and indigenise. However, many problems (eg, security concerns, corruption, political risk and environmental issues) constrain production levels and have resulted in acquisition and disposal activity as companies rebalance their portfolios to reflect these risks.
Beyond these established players, the pool of African producing nations is expanding and the next few years will see countries with no or limited production becoming an important source of global supply. Much of this new activity is taking place in East Africa - particularly oil production in the north (Kenya and Uganda) and liquefied natural gas (LNG) and gas projects in the south (Tanzania and Mozambique). Other countries such as Namibia and Somalia are exploring for their first significant discoveries.
This book discusses the opportunities and challenges. Chapters describe the production sharing contract (PSC) and economic terms governing regional exploration and production activity. Although PSCs are not an exclusive host government instrument, they are of growing importance for countries looking for greater control over, and societal benefits from, petroleum production. The book also covers financing, M&A, valuation, local content, state participation, security and decommissioning issues in an African context. Additional chapters deal with OHADA - an attempt to harmonise business laws across 17 countries in West and Central Africa - and natural gas and LNG projects.
The book has been authored by leading industry participants, petroleum consultants, lawyers and security advisers with experience of working in Africa. It will benefit other industry participants and advisers pursuing oil and gas opportunities across the continent.
Contents
Preface
General Jones
Foreword
Larry Bottomley
Alex Green
Chariot Oil and Gas Limited
Upstream petroleum agreements in Africa
Kevin Atkins
Chadbourne & Parke
Local content
Caroline Lucy
Akin Gump Strauss Hauer & Feld
Comparative economic and fiscal analysis
Chris Moore
Moyes & Co
Oil & gas mergers and acquisitions in Africa
Adam Blythe
Bracewell & Giuliani (UK) LLP
Ben Donovan
DLA Piper
State participation and local participation in oil and gas in Africa
John LaMaster
Caroline-Lucy Moran
Akin Gump Strauss Hauer & Feld
OHADA (Organisation pour l'Harmonisation en Afrique du Droit des Affaires)
Olivier Chambord
Allison Soilihi
Morgan, Lewis & Bockius UK LLP
Chasing shadows: security of oil and gas projects in Africa
John LaMaster
Akin Gump Strauss Hauer & Feld
Anti-corruption initiatives
Sarah A Banco
Jaelyn Edwards Judelson
Nnedinma C Ifudu Nweke
Tamer A Soliman
Akin Gump Strauss Hauer & Feld
Financing of oil & gas operations in Africa
Bruce Johnston
Morgan, Lewis & Bockius UK LLP
The growing and evolving role of national oil companies
Bjorn-Erik Leerberg
Advokatfirmaet Simonsen Vogt Wiig AS
Dispute resolution involving oil & gas assets in Africa
Mark Beeley
Vinson & Elkins
Decomissioning in Africa
Olubunmi Fayokun
Aluko & Oyebode
Index
About the authors
