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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 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 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 new edition provides additional sections on (i) 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 agreement, among others.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.
Introduction 7Eduardo G PereiraSiberian Federal UniversityPart I: Petroleum titleRoyalty and tax regime 9Marc HammersonStephenson Harwood LLPAnthony MartinezHerbert Smith Freehills LLPProduction sharing agreements 43Anna OvcharovaRepsol Service contracts 63Ryan GawrychAnthony PattenShearman & Sterling LLPHybrid agreements 79Yanal Abul FailatLXL LLPPart II: Consortium agreementsNon-disclosure agreements 95Anna OvcharovaRepsolJoint bidding agreements 101James DayMarc HammersonStephenson Harwood LLPAnthony MartinezHerbert Smith Freehills LLPJoint study and bidding agreements 117Dario AriasResources Energy ConsultingJoint venture agreements 129Debra J VillarrealThompson & Knight LLPJoint operating agreements 141Eduardo G PereiraSiberian Federal UniversityJoint sales and marketing agreements 161Luis PachecoVeirano AdvogadosUnitisation and unit operating agreements 177Andrew B DermanThompson & Knight LLPDanielle LudwigMattos Filho, Veiga Filho, Marrey Jr e Quiroga AdvogadosPart III: Key stakeholdersNational oil companies 195Marcelo Amorim BastosJosé Alberto BuchebB-in Partners LLCInternational oil companies 209Anna OvcharovaRepsolOil companies’ transition to a global energy market 217Marcelo Amorim BastosB-in Partners LLCMarcelo GautoPetrobrasService companies 227Andrea FalcãoSchlumbergerPart IV: Regulatory frameworkNational constitution 235Kim TalusTulane UniversityPetroleum law 239Kim TalusTulane UniversityHealth, safety and the environment 245John PatersonUniversity of AberdeenPublic procurement 257 in the upstream oil and gas industry 257Olayemi AnyanechiSefton FrossEduardo G PereiraSiberian Federal UniversitySurface rights 275Luis PachecoVeirano AdvogadosApplicable laws, part I: ABC 281TJ AunerAndrew MelsheimerThompson & Knight LLPApplicable laws, part II: International law 287Kim TalusTulane UniversityCorporate and social responsibility in the oil and gas industry 291Anna OvcharovaRepsolPart V: FinanceEquity participation 299Anna OvcharovaRepsolIPO 311Iain NewmanJack ShepherdCMS Cameron McKenna Nabarro Olswang LLPRBL 325Nicholas Ross-McCallCMS Cameron McKenna Nabarro Olswang LLPHuw ThomasAshurst LLPPart VI: Mergers and acquisitionsDirect acquisition from the host government: bid rounds 351Dario AriasResources Energy ConsultingFarmout agreements 363Olayemi AnyanechiSefton FrossEduardo G PereiraSiberian Federal UniversityPart VII: Governing law and dispute resolutionPetroleum title 381Andrew MelsheimerThompson & Knight LLPApplicable law 385Paul Cohen4–5 Gray’s Inn SquareWilliam M Katz, JrThompson & Knight LLPInternational arbitration 391TJ AunerAndrew MelsheimerThompson & Knight LLPAbout the authors 399Index 409
The new edition of Globe Law and Business' The Encyclopaedia of Upstream Oil and Gas is an a excellent new addition to the bookshelf of any lawyer, academic or, indeed, anyone involved, in the oil and gas industry.