The Indonesian Production Sharing Contract:An Investor's Perspective

The Indonesian Production Sharing Contract:An Investor's Perspective
Author: Tengku Nathan Machmud
Publisher: Kluwer Law International B.V.
Total Pages: 264
Release: 2000-07-12
Genre: Business & Economics
ISBN: 9041113878

The model contract for oil and gas development known as the Production Sharing Contract (PSC) originated in Indonesia in 1966 and enjoyed over a decade of successful implementation, with minor adjustments, in several oil-producing countries. In more recent years, however, numerous problems have arisen as changes in economic realities have driven the level of private investment down. This penetrating study, the only one of its kind, uses legal analysis as well as historical data to pinpoint the reasons for the initial success of the PSC and for its subsequent and persistent frustrations for investors. The author first examines the original Indonesian contract, along with the variants adopted in Malaysia and the People's Republic of China, and then proceeds to an in-depth analysis of the main clauses and their amendments and execution in all three countries. Taking into account various commissioned surveys and emerging policies and strategies espoused by both governments and industry representatives, he concludes with a detailed proposal for an overhauled contract that allows for meaningful adjustments, or even renegotiation, when the balance of interests between parties changes substantially. Focusing as it does on some central issues in global economic development, The Indonesian Production Sharing Contract will be of great value to lawyers, multinational corporate executives, and policymakers far beyond the Asia-Pacific region.

Petroleum Investment Policies in Developing Countries

Petroleum Investment Policies in Developing Countries
Author: Nicky Beredjick
Publisher: Springer Science & Business Media
Total Pages: 298
Release: 1988
Genre: Business & Economics
ISBN: 9781853330551

Twelve chapters cover a wide variety of topics, including finance, contracts, political risk insurance, legal issues, economics, and technical cooperation. All treatment of these subjects focuses on conditions expected to exist in the mid 1990s. No subject index or bibliography. Annotation copyright

Overseas Private Investment Corporation

Overseas Private Investment Corporation
Author: United States. Congress. House. Committee on Foreign Affairs. Subcommittee on Foreign Economic Policy
Publisher:
Total Pages: 1330
Release: 1974
Genre: China
ISBN:

Discusses Sino-Soviet relations, oil and Asia, and energy crisis in Asia. Also discusses the international legal snarl over the Straits of Malacca and Japan's new relationship as the third economic power with the U.S., and the common market countries of Western Europe.

Risk Allocation and Distributive Justice in the Energy Industry

Risk Allocation and Distributive Justice in the Energy Industry
Author: Smith I Azubuike
Publisher: Edinburgh University Press
Total Pages: 236
Release: 2024-09-30
Genre: Biography & Autobiography
ISBN: 1399517732

Brings the concept of gross negligence to the fore and highlights how distributive justice forms a better foundation for risk allocation in the offshore energy industry Assessed the practice of risk allocation in gross negligence cases in offshore petroleum drilling contracts Presented a public policy perspective on risk allocation in offshore drilling contracts Discussed gross negligence as a sui generis risk and provides a definitional pathway for determining when gross negligence has occurred and how it should apply to offshore energy drilling contracts to encourage a pollution-free drilling operation Advanced the concept of distributive justice as a basis for risk allocation between participants when a downside arises due to gross negligence This book examines the practice of risk allocation in the offshore energy industry through the public policy lens and offers a novel perspective on the concept of gross negligence in risk allocation. This perspective is founded on the proportionality element of distributive justice in burden distribution. The assessment of how mutual indemnity clauses apply as an absolute shield against liability arising from gross negligence reveals that moral hazard can result from the practice. In the analysis, this book considers the risk allocation practice in PSC and Concession regimes and how parties' liability is determined in drilling contracts. This book considers gross negligence a sui generis risk and provides a definitional pathway for determining when gross negligence occurs and how it should apply to offshore drilling contracts. Thus, it advances an environmental sustainability approach to offshore petroleum drilling operations. This book will be useful to operators and contractors, resource-rich countries, insurance companies, practitioners, scholars, and academics interested in risk allocation in the petroleum industry.

Oil, Gas, and Mining

Oil, Gas, and Mining
Author: Peter D. Cameron
Publisher: World Bank Publications
Total Pages: 377
Release: 2017-06-01
Genre: Business & Economics
ISBN: 0821399616

Oil, Gas, and Mining: A Sourcebook for Understanding the Extractive Industries provides developing countries with a technical understanding and practical options around oil, gas, and mining sector development issues. A central premise of the Sourcebook is that good technical knowledge can better inform political, economic, and social choices with respect to sector development and the related risks and opportunities. The guidance provided by the Sourcebook assumes a broad set of overarching principles, all centered on good governance and directed at achieving positive and broadly based sustainable development outcomes. This Sourcebook is rich in presenting options to challenges, on the understanding that contexts and needs vary, and that there is much to be gained from appreciating the lessons learned from a broad set of experiences.