Bunter - The Promotion and Licensing of Petroleum Prospective Acreage

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Transparency and Accountability

Policy, Legal and Contractual Framework

Sector Organization and Institutions

Fiscal Design and Administration

Revenue Management and Distribution

Sustainable Development

Bunter, M., The Promotion and Licensing of Petroleum Prospective Acreage, (London: Kluwer Law International, 2002)

 This book details the processes of licensing from the perspective of the two main players in the petroleum sector, namely government entities and international oil companies. It also takes stock of the interests of host communities and their environmental concerns as well as neighboring states and other third parties who may be affected by the licensing process.

For a petroleum producing country to be able achieve any measure of success when developing their petroleum resources, much attention needs to be paid to the design of a practical licensing system. This is especially important for countries that seek to attract investment in their petroleum sector or those whose aspirations might need further geological appraisal. The book argues, however, that often governments fail to realize the importance of a comprehensive and well thought through licensing system that takes into account the uniqueness of the area being licensed.

It is against this backdrop that Bunter provides an overview of the issues that are often encountered when designing a licensing system and outlines what the parties are usually seeking to achieve. Bunter goes on to examine in detail the specific aspects of the licensing process such as bidding, call for tenders and their evaluation, the management of data and the negotiating process. Using data sourced from, for example, pre-qualification filtering exercises and invitations to tender, Bunter draws on best practice examples from a variety of jurisdictions around the world to illustrate his points and provides a comprehensive guideline of ways to address some key issues.

The book concludes with a detailed chapter on negotiations of the petroleum contract, a crucial phase which could determine the conditions under which the contract exists for many years to come. 

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