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International Oil & Gas Law - Coursework Example

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The oil and gas industry in the contemporary world has seen considerable growth and development. In the past decades, oil exploration in the world has been enhanced, and new national oil producers are emerging attracting attention from international investors…
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International Oil & Gas Law
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International Oil & Gas Law

The oil and gas industry in the contemporary world has seen considerable growth and development. In the past decades, oil exploration in the world has been enhanced, and new national oil producers are emerging attracting attention from international investors.1 The massive oil reserves of Polenskya is a clear example, and the following section highlights the facts on the ground with respect to Polenskya and issues touching the actions to be undertaken by Atlantic Oil Company-as the interested investor. 1.1. Facts about Polenskya Facts about Polenskya include massive unexploited oil reserves in the developing country having a population of 20 million of which, majority are illiterate. In Polenskya, there exists no established banking system thus financial saving and investments in the country calls for massive turn over. Regarding the commercial practices and environmental care, there are no international, commercial or environmental laws to safeguard the integrity and decency of the environment, as well as trade. Further, Polenskya has little national oil industry expertise; thus, international investment is the only option for Polenskya realising its dream of exploiting its oil reserves.. This is through the incorporation of international oil investors to the country to drill the resource at set agreements or concessions. On the political environment, in Polenskya; it is rumoured that President Millapot might resign due to ill health after ten years in power. This gives rise to the probability of a new regime coming in power in the near future with the initial development on the project. Issues concerning the oil reserve land; this is a home to an endangered species attracting tourist throughout the year, as well as an indigenous community growing food crops on the land. With respect to ventures into transportation survey, there exists a small port 100 miles from the area, which is primarily utilised for fishing. 2.0. THE OIL AND GAS INVESTMENT BY ATLANTIC OIL IN POLENSKYA 2.1. Atlantic Oil Company in Context Atlantic oil is a multinational oil company interested in investing in the nation of Polenskya. The venture will have to look into the following factual information. A. Atlantic is considering entering into a Production Sharing Agreement with Polenskya. This report wills advice Atlantic Oil on the advantages and disadvantages of undertaking a Production Sharing Agreement with Polenskya. Further, clauses to be included for this agreement will be discussed to enlighten the company on the impending terms of the contract. B. On the basis of Atlantic Oil not wholly funding any development project in Polenskya, the types and sources of financing available will be analysed. Further, the mode of minimising commercial and political risks will be discussed. On the same note, the project entails having very minimal disruption to the environment. Therefore, critical environmental issues that Polenskya will have to undertake to look critically into this will be of the essence to highlight and ... Read More
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