Subjects 2009
International Petroleum Transactions 730788
- Credited Courses: Graduate Diploma in Environment, Energy and Resources Law L07; Graduate Diploma in Transnational Law 333; Master of Commercial Law 504; Master of Laws (LLM) 502; Master of Public and International Law 511
Objectives
A student who has successfully completed this subject should:
- Understand the essential requirements for state sovereignty over natural resources
- Understand the essential provisions of host government contracts
- Understand the essential provisions of joint bidding and confidentiality agreements
- Understand the essential provisions of exploration and farmout agreements
- Understand the essential provisions of joint operating and lifting agreements
- Understand the essential provisions of unitisation agreements
- Understand the essentials of risk management and allocation of risk in service and drilling contracts
- Understand the importance of drafting and administering contracts so as to avoid corruption problems, especially when contracting with a local consultant
- Understand some fundamentals of crude-oil and gas sales.
Syllabus
Principal topics will include:
- Host government contracts
- Joint bidding, confidentiality,exploration and farmout agreements
- Joint operating and unitisation agreements
- Managing and contracting to avoid corruption problems
- Managing and allocating risk in service contracts.
