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The petroleum industry is highly specialised. Over the centuries, the industry has developed a large number of standard petroleum regulations, arrangements and contracts that are not necessarily familiar to all across the industry and even less to the outside world.
Each regulation/arrangement/contract has its own detailed terms and provisions and experts in this industry tend to be focused on specific phases from such a complex industry.
This updated edition provides the unique combination of an encyclopaedia with commentary for the entire chain of petroleum activities. 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, 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 new edition provides additional sections on (1) international laws and treaties with direct impact on the upstream sector, (2) anti-corruption laws and practices, (3) corporate and social responsibility, (4) oil and gas service contracts, (5) confidentiality agreements, among others.
This encyclopaedia will serve as a valuable tool for lawyers, professionals in the industry, consultants, academics, engineers and geologists who are interested in understanding the key legal terms and provisions of the oil and gas industry.