Oil & Gas Contracts: Principles and Practice

A comprehensive handbook covering the law of upstream, midstream, and downstream petroleum contracts, including standard industry documents, commentary on their application, and issues related to mineral laws, preliminary participation contracts, drilling, procurement, and services contracts, unitization and unitization agreements, pooling and other joint development options, petroleum management contracts, oil, gas, and LNG sales contracts, shipping contracts, pipeline transportation contracts, interest sale and purchase contracts, decommissioning and security contracts, corporate and project finance agreements, and dispute resolution.

Format: Hardback
Publication date: 20 May 2022
Publisher: Sweet & Maxwell Ltd

A comprehensive handbook that delves into the intricate realm of upstream, midstream, and downstream petroleum contracts. It encompasses a wide range of standard industry documents that serve as the legal foundation for these complex agreements, accompanied by insightful commentary on their practical application in the energy sector. The book explores various issues related to mineral laws, including licensing agreements and host government and intergovernmental agreements. It also examines preliminary participation contracts, encompassing confidentiality agreements, area of mutual interest agreements, joint study agreements, joint bidding agreements, joint wells agreements, data trade and sharing contracts, and the enforceability of reasonable endeavour and best endeavour covenants.

Furthermore, the handbook assesses model form joint operating agreements, encompassing their contents, accounting procedures, and trust deeds. It delves into drilling, procurement, and services contracts, discussing the principles of unitization and unitization agreements, as well as pooling and other joint development options, pre-unit agreements, UUOA and JOA relationships, petroleum lifting and commingling principles, balancing agreements, title interests, allocation and attribution/substitution agreements. Additionally, the book provides valuable advice on petroleum management contracts, encompassing the provision of petroleum processing and operational services, third-party access to infrastructure, project structures for gas liquefaction and LNG regasification, contracts for terminal access and service provision, and oil, gas, and LNG sales contracts, which are meticulously examined in detail regarding their respective terms.

The handbook also addresses shipping contracts, encompassing ship leasing, time and voyage charter-party terms, contracts of affreightment, and bills of lading. Lastly, it explores pipeline transportation contracts, taking a dual perspective of transporters and shippers, examining pipeline system rules, and discussing the terms and conditions of pipeline transportation agreements.

In summary, this handbook is an indispensable resource for professionals involved in the petroleum industry, offering a comprehensive and detailed exploration of upstream, midstream, and downstream petroleum contracts, mineral laws, and related matters. It provides valuable insights and practical guidance for navigating the complex terrain of energy transactions and related legal issues.

ISBN-13: 9780414099951
Edition number: 3 ed