Encyclopaedia of Upstream Oil and Gas

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 upstream petroleum 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.

New sections: 

• Arbitration process
• Non-disclosure agreements 
• Corporate and social responsibility 
• Anti-bribery and corruption law 

Also new to this edition: 

• Coverage of the EU Offshore Safety Directive and its domestic implementation. 
• A look at the potential impact of the parties’ choice of law in a future dispute, the importance of choice of law and its impact on disputes, and the important considerations for practitioners to take into account when negotiating choice of law clauses. 
• Reflection on the expansion of national oil companies' activities into the downstream sector and internationally.
• New coverage of recent developments and changes to service contracting structures in certain middle eastern jurisdictions.
• A helpful table clearly setting out the eligibility requirements for listing on the Main Market (premium or standard) and AIM.
• Discussion of the new Prospectus Regulation which was fully implemented in July 2019.   

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.