Petroleum Exploration and Production Rights

Petroleum Exploration and Production Rights

Allocation Strategies and Design Issues

Book - 2010
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Book News
Tordo, a lead economist with the Oil, Gas, and Mining Division of the World Bank, presents the results of a study on countries' experiences with the allocation of petroleum exploration, development, and production (E&P) rights.The book analyzes the available evidence on alternative practices used by petroleum producing countries to allocate petroleum E&P rights, and draws conclusions about their relative effectiveness, and policy implications. The book includes a glossary, and almost 100 pages of appendices on the life cycle of a typical oil and gas project, fiscal instruments, fiscal terms, selected country experiences in licensing policy, and examples of allocation systems design. There is no subject index. Annotation ©2010 Book News, Inc., Portland, OR (booknews.com)

World Bank
Many governments rely on oil companies to efficiently exploit natural resources. Governments have the challenging task of deciding which companies should be awarded exclusive rights to explore, develop, and produce their petroleum resources, and on what conditions such rights should be awarded. This paper analyzes the available evidence on the advantages and disadvantages of various systems used by petroleum-producing countries to allocate petroleum exploration, development, and production rights, and considers the policy implications of each system. The experience of six petroleum-producing countries is presented in detail, and numerous other examples are provided to derive lessons of wider applicability. The paper presents various conclusions for policy makers about the optimal design of allocation systems.

Publisher: Washington, DC : World Bank, c2010
ISBN: 9780821381670
ISSN: 1726-5878
Characteristics: xiv, 106 p. : ill. ; 25 cm

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