Stability in International Contracts for Hydrocarbons Exploration and Some of the Associated General Principles of Law: From Myth to Reality
Article from: OGEL 4 (2010), in Upstream Petroleum Regulation incl. Host Government Contracts
The so-called stabilized contractual relationship: classical ideas and myth in contracts for petroleum exploration
There are several types of contracts through which one or more parties, generally foreign and private, decide to invest in the oil and gas business. These international contracts may be: a simple, traditional concession, a production sharing contract (PSA), service (or pure) contracts, with or without risk clauses, joint ventures, lease contracts, hybrid or others. The main difference between these is the fact that, on one side, we have one or more private investors and, on the other, the State (Government), a State-owned agency or a governmental company. We can foresee ...