Legal Issues in the Management of Nigeria's Production Sharing Contracts from a Study of the Nigerian National Petroleum Corporation's (National Petroleum Management Services') Perspective
Article from: OGEL 1 (2005), in Production Sharing Contracts
Introduction
Since the advent of her Petroleum Industry in 1908, Nigeria has over time developed different petroleum development contracts or arrangements either with a view to curing the deficiencies of existing contractual arrangements or in response to the dynamics of the industry. Concessions were the earliest and only form of such contracts from 1908 until they were replaced in 1969 with participation agreements through Joint Venture (or Joint Operating Agreement as it is called). These contracts have since been followed and are arguably being overtaken by Production Sharing Contracts ...