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Questions On Oil And Gas Contract And Dispute

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SCHOOL O
F ENGINEERING AND BUILT ENVIRONMENT
COURSEWORK COVER SHEET

FOR THE ATTENTION OF LECTURER: DR Paul Doughan
Student Name: OLUFEMI BALOGUN
Matriculation Number: S1433528
Year of Study: 2014-15
Assignment Title: Coursework 1
Module: Oil and Gas Contract and Dispute
Student Declaration
This piece of work is not plagiarised. It is my own original work and has not been submitted elsewhere in fulfilment of the requirements of this or any other award.

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Date:20NOV. 2014
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Contents
1.Introduction 3
1.1.The aims and objectives 4
2.Ownership rights (Oil and Gas) 5
2.2. Oil and Gas Exploration Contract 5
2.3. Direct Action (Owner) 5
2.3. Indirect action 5
2.4. Concession 6
2.5. Production sharing 6
2.6. Service Contract 7
2.7. Joint Operating Agreement 7
3.Different government approach working with the international oil companies 8
3.1.Contracts arrangement in producing and exporting countries 8
4.How different government might respond to the dramatic decrease in the oil price 9
5.Future trends in the oil and gas industry 10
6.Conclusion 11
References 11

1. Introduction

Oil and Gas is one of the World 's most valuable and dominant mineral resources accounting for about 33% of present global energy consumption, however, it is believed that it has been losing
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