EI Sourcebook | 5. Policy, Legal and Contractual Framework

5. Policy, Legal and Contractual Framework

The establishment of an EI sector policy framework, legislation, contract design, award procedures, and regulations consistent with good practice is critical to both the promotion of investment and the protection of the public interest. It is the cornerstone of good practice in EI sector management.

This Chapter covers critical topics ideally addressed at the front end of the EI value chain. These are specifically the issues related to EI sector policy, legislation, contracts, award of contracts and licenses, and regulation. Together with decisions on EI sector organization and fiscal design (the subjects of the two following chapters), they establish the essential framework for EI sector investments and operations.

Additional Reading:

Bastida, E., Walde, T., Warden-Fernandez, J.,(eds.) International and Comparative Mineral Law and Policy: Trends and Prospects (The Hague, The Netherlands: Kluwer Law International, 2005); link to summary document;

Beredjick, N., Wälde, T., eds., Petroleum Investment Policies in Developing Countries, (London, Graham and Trotman Ltd, 1988); link to summary document;

Bunter, M., The Promotion and Licensing of Petroleum Prospective Acreage, (London, Kluwer Law International, 2002); link to summary document;

Duval, C., Le Leuch, H., Pertuzio, A., Weaver, J., International Petroleum Exploration and Exploitation Agreements: Legal, Economic and Policy Aspects (New York, United States: Barrows Company Inc., 2nd edition 2009); link to summary document;

Hossain, K., Law and Policy in Petroleum Development – Changing Relations between Transnationals and Governments (London: Frances Pinter Publishers Ltd, 1979); link to summary document;

Hurst, C., Davison, A., Mabro, R., Natural Gas: Governments and Oil Companies in the Third World, (Oxford: Oxford University Press, 1988); link to summary document;

Institut Français Du Petrole Publications, Legal, fiscal and contractual framework (Chapter 5) in Oil and Gas Exploration and Production: Reserves, Costs, Contracts (Paris, France: Editions Technip, 2004); link to summary document;

Naito, K., Remy, F., and Williams, P., Key Building Blocks of Mining Law Reforms, in Review of Legal and Fiscal Frameworks for Exploration and Mining, (London, UK: World Bank Group Mining Department, Mining Journal Books Ltd, 2001); link to summary document;

Otto, J., Cordes, J., The Regulation of Mineral Enterprises: A Global Perspective on Economic, Law and Policy (Westminster, Colorado, United States of America: Rocky Mountain Mineral Law Foundation, 2002); link to summary document;

Otto, J., Security of Mineral Tenure: Time Limits, in International and Comparative Mineral Law and Policy, Trends and Prospects, Bastida, E., Wälde, T., Warden-Fernandez, J., eds., (Netherlands, Kluwer Law International, 2005); link to summary document;

Tordo, S., Johnston, D., Johnston, D., Petroleum Exploration and Production Rights: Allocation Strategies and Design Issues (Washington D.C., United States of America, World Bank, no. 179, 2009); link to summary document;

Williams, J.P., Legal Reforms in Mining: Past Present and Future, in International and Comparative Mineral Law and Policy, Trends and Prospects, Bastida, E., Wälde, T., Warden-Fernandez, J., eds.,(Netherlands, Kluwer Law International, 2005); link to summary document; and

The World Bank and the International Finance Corporation, Mining Reform and the World Bank: Providing a Policy Framework for Development (Washington D.C., United States of America: International Finance Corporation, 2003); link to summary document.

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	Mining Specifics		Oil & Gas Specifics
	Africa		Latin America
	Comment / Submit		Learning Modules & Training

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