This work is based on more than ten years experience in conducting tenders for the licensing of petroleum prospective acreage on behalf of a number of sovereign governments in Europe, Africa and the former Soviet Union. It explains the processes of licensing from the points of view of the two main protagonists: the government bodies and the international oil companies. The book also gives due prominence to the interests of the host communities and to the environment, as well as to the neighbouring states and the other participants who may be affected by the licensing process.