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oil and gas legal issues presentation including quen inf Upcoming SlideShare ShareWordPress Shortcode 2,548 views Are you sure you want to YesNo Your message goes here oil and gas legal issues presentation including quen inf 1 12 Mar 2011 - Using images in presentations – the legal issues paper color to make it white again), cropping the final art and giving it the clipart resolution .
Oil and Gas Legal Issues PresentationGroup Members: Stephanie Polykarpou, Thelys Stamatelis, Lianqiu WANG, Quan Ke 2. Theme:“Choosing between Production SharingContracts, Joint venture and Service Contractspresents formidable intellectual challenges asto optimal and legal drafting ally discus citing typically clauses andrisk issues that may arrive”.
Content Introduction Joint Venture Product Sharing Contract Service Agreement Conclusion 4.
Introduction Definition of the “Contract ” Definition of the “Oil and Gas Contract” Types of The Oil and Gas Contract Cut-in Angles of the Oil and Gas Contract• Concerns of the Contractual ClausesCurrently• Contracts Forms vs. Joint Venture Upstream Downstream Capital Supply Chain Intense Optimization Market Position Risk Concerntrate Regulation requirement Access to Resources Political Sensitive or Energy Security Access to Technology 7.
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Special Clauses in JointVenture Financial/Capital Management of Partners Taxes 10. In 1960s Indonesia proclaimed PSCs as the main type of contract in the oil and gas industry. Nowadays more than 40 countries use this type of contract.
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• Exploration remains with thegovernment• State has managerial role• IOC responsible for costs• Profit oil is divided between thecontractor and the state 12.
Certain clauses:• Tax• Contract duration and commerciality6.
In such contracts there always aresome risks:• The host state does not own any risksat all• But. the intervention of the law• The host state also incurred somedisadvantages. Service Contract The background of Service Contract The type of service contract Risk service contracts(Rsc )and Pure service contracts (Psc) Differences between Rsc and Psc 14.
Service contract Service Contract Pure Service Contract (PSC) Risk Service Contract (RSC) Ownership Control Risk Ownership Control RiskForeign Oil No No No No No Exploration CompanyHost State Full Full All Risks Full Full All Risks 15. References Outlines of the Presentation of Dr. Irina Paliashvili, the President of the Russian-Ukrainian Legal Group at the Seminar on the Legislation on Production Sharing Agreements, September 14,1998 Kirsten Bindemann, Production Sharing Agreements: An Economic Analysis, Oxford Institute for Energy Studies WPM 25, October 1999 Centre for Energy Economics, Bureau of Economic Geology, Jackson School of Geosciences the University of Texas at Austin Bake and Makenzie, Production Sharing Contracts: Implications for Pre- Salt Development in Brazil Dr Ingilab Ahmadov, Contracts and Revenue sharing mechanisms- an international perspective, Public Finance Monitoring Centre (Baku), 5-6 February 2009, Jenic Radon, The ABC of Petroleum Contracts: Licences-Concessions Agreements, Joint Ventures, and Productin Sharing Agreements, 70 17.
references Talal Al-Emadi Joint Venture Contracts among current Negotiated Petroleum Contracts (2004) Bindemann ̧ supra note 15, at 11, (“oil exploration and development can only be conducted by virtue of one of several forms of contracts granted either by the government or its NOC”).
With respect to the type of remuneration, the payment can be regarded as profit or fees. The method of the remuneration, on the other hand, is either a percentage of the production (in kind) or fixed amount (cash). Johnston Production Sharing Agreement‟ cEnTrE For PETrolEum min. M Sa Riberio, The New Oil and Gas Industry in Brazil: An Overview of the Main Legal Aspects 36 TEx. Michael Likosky, Contracting and regulatory issues in the oil and gas and metallic minerals industries (2009) Omorogbe, Y. The Oil and Gas Industry: Exploration and Production Contracts. „Risk-bearing service contracts in Brazil”, Journal of Energy and Natural Resources Law 3: 114. “From concessions to service contracts”, Tulsa Law Journal, 27, p.
Colorado: Rocky Mountain Mineral Law Foundation (2nd edition).