Resources

Protecting The Interests Of Parties To A Production Sharing Contract: A Look At Stabilisation And Renegotiation Clauses

Jun 6, 2013

According to Taverne, the production sharing contract (PSC) is the oldest form of risk contract and has been utilised within the petroleum industry for over 25 years. Against this backdrop are the aims of the parties when entering into these types of agreements. In terms of mineral development the main aim of the multinational firm…

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An Introduction To Joint Operating Agreements – Part 2

Jun 6, 2013

Non Operators The non operators are active investors who, through the Op-com, exercise overall control and supervise the joint operations of the parties. The major right of non operators is to uplift pro rata their share of any production arising out of the joint venture operations. It must be noted however, that in certain types…

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An Introduction To Joint Operating Agreements – Part 1

Jun 6, 2013

It is a well known fact that economic activities such as oil and gas exploration are fraught with high costs and extreme risks. Thus, business vehicles known as joint ventures are the main way by which international oil companies come together to offset costs and to share risks. It is generally recognised that partnerships, limited…

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Battling oil theft in the Niger Delta

Jun 1, 2013

Nigeria loses billions of dollars every year to the dangerous but lucrative oil theft in the Niger Delta region of the country. This documentary chronicles how a group of youths, some of them former militants, are helping to wage a battle against oil thieves in the region. But there is still one thing they want…

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What if the US stops buying our oil?

Apr 29, 2013

United States’ imports of Nigerian crude oil slumped to the lowest level in more than 15 years in March, according to US Energy Department data released recently.  

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