Petroleum Exploration and Production Rights
eBook - PDF

Petroleum Exploration and Production Rights

Allocation Strategies and Design Issues

  1. 126 pages
  2. English
  3. PDF
  4. Available on iOS & Android
eBook - PDF

Petroleum Exploration and Production Rights

Allocation Strategies and Design Issues

About this book

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.

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Yes, you can access Petroleum Exploration and Production Rights by Silvana Tordo in PDF and/or ePUB format, as well as other popular books in Business & Energy Industry. We have over one million books available in our catalogue for you to explore.

Information

Publisher
World Bank Publications
Year
2010
eBook ISBN
9780821381687
Edition
0
Topic
Business
Subtopic
Energy Industry
Index
Business

Table of contents

  1. Contents
  2. Acknowledgments
  3. Acronyms and Abbreviations
  4. Executive Summary
  5. 1. The Exploration, Development, and Production of Petroleum Resources
  6. 2. Alternative Approaches to the Granting of Petroleum Exploration, Development, and Production Rights
  7. 3. The Design of Appropriate Allocation Systems
  8. 4. Conclusions
  9. Appendixes
  10. I. Life Cycle of a Typical Oil and Gas Project
  11. II. Main Fiscal Instruments: Advantages and Disadvantages
  12. III. World Average Fiscal Terms
  13. IV. Select Countries’ Experience
  14. V. Allocation Systems Design: Example
  15. Glossary
  16. References
  17. Table 2.1. Objectives of Fiscal Systems
  18. Table 2.2. Fiscal Elements of Petroleum Agreements
  19. Table 2.3. Overview of Allocation Systems in Select Countries
  20. Table A.1. Alternative Bid Design
  21. TableA.2. Overview of Brazil’s Licensing Rounds
  22. Table A.3. Bidding Rounds Summary
  23. Table A.4. Biddable Parameters
  24. Figure 3.1. Allocation Policy Flow Chart
  25. Box 3.1. Licensing Policy as a Means to Promote Local Content
  26. Box 3.2. Tax Implications of the Transfer of E&P Rights
  27. Box 3.3. Administrative Complexity
  28. Box 3.4. Examples of Bidding Parameters
  29. Box 3.5. Minimum Bidding Requirements
  30. Box 3.6. Excessive Royalty Rates
  31. Box 3.7. Oversized Work Programs
  32. Box 3.8. Fiscal Incentives to Cost Saving
  33. Box 3.9. Information and Risk Perception
  34. Box 3.10. Joint Bidding or a Forced Marriage?
  35. Box 3.11. Example of Sequential Auction
  36. Box 3.12. Issues with the Planning of Licensing Rounds
  37. Box 3.13. Changing the Rules of the Game
  38. Box 3.14. Reserve Prices
  39. Box 3.15. Transparency Mechanisms