Stabilisation in Investment Contracts and Changes of Rules in Host Countries: Tools for Oil & Gas Investors

Topics: Petroleum, Petroleum industry, National Iranian Oil Company Pages: 116 (34933 words) Published: May 23, 2014
Association of International Petroleum Negotiators
(AIPN)

Stabilisation in Investment Contracts and
Changes of Rules in Host Countries: Tools for
Oil & Gas Investors

Peter D Cameron
ACIArb
PhD (University of Edinburgh), LLB (Joint Honours) (University of Edinburgh) Professor of International Energy Law and Policy
CEPMLP, University of Dundee, UK
p.d.cameron@dundee.ac.uk

FINAL REPORT
5 July 2006

© Copyright Peter D Cameron

PDCameron/AIPN/Final Report. 5 July 2006

Table of Contents
TABLE OF CONTENTS .......................................................................................................................2 EXECUTIVE SUMMARY & GUIDE TO THE READER ................................................................4 GLOSSARY OF TERMS AND ACRONYMS ....................................................................................6 FOREWORD & ACKNOWLEDGEMENTS ......................................................................................8 Scope of the Study ...........................................................................................................................8 Structure of the Study......................................................................................................................9 PART 1: THE PROBLEM ..................................................................................................................12 CHAPTER 1: WHY ATTEMPT TO STABILISE INVESTMENT CONTRACTS IN THE OIL AND GAS INDUSTRY? ......................................................................................................................12 1.1 THE QUESTION: TO STABILISE OR NOT? .......................................................................................12 1.2 TWO LIMITATIONS ON STABILITY .................................................................................................13 1.3 HOW HAS STABILITY BEEN ADDRESSED OVER THE YEARS? ..........................................................15 1.4 SUMMARY ....................................................................................................................................19 CHAPTER 2: WHY DO HOST GOVERNMENTS CHANGE RULES? .......................................20 2.1 WAVES AND THEIR EFFECTS .........................................................................................................20 2.2 THE ARMOURY .............................................................................................................................22 2.3 RISKS TO THE HOST GOVERNMENT...............................................................................................24 2.4 SUMMARY ....................................................................................................................................25 PART 2: THE TECHNIQUES & THEIR ENFORCEMENT..........................................................27 CHAPTER 3: THE PRACTICE OF FISCAL STABILISATION...................................................27 3.1 THE HEART OF THE MATTER ........................................................................................................27 3.2 THE MARKET PLACE OF STABILISATION PROVISIONS ...................................................................28 3.2.1 Freezing – Wholly or in Part ...............................................................................................28 3.2.2 Economic Balancing ............................................................................................................31 3.2.3. Circumstances of Balancing ...............................................................................................36 3.2.4 Balancing and Expropriation...............................................................................................38 3.2.5 Legislative Support for Stability...........................................................................................39 3.2.6 Stability and...

Bibliography: Bolivia:
Model Production Sharing Contract, 1997.
Committee for Investments (the Competent Body) and the Zhaikmunai
Limited Liability Partnership (the Contractor), Kazakhstan, 1997.
Mozambique: Production Sharing Contract for the Sofala Field, 1998.
Model Contract for Oil and Gas (Decree 108 of 17 January 1997) and
Model Contract of 31 July 2001.
Nepal:
Model Production Sharing Contract, 1994.
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • Essay about oil and gas motivation
  • Oil and Gas industry Essay
  • Essay about Contracts
  • Host Country of Foreign Investment Essay
  • Oil and Gas Essay
  • Oil and Gas Essay
  • Oil and Gas Essay
  • oil & gas Essay

Become a StudyMode Member

Sign Up - It's Free
Turmeric 1000 Curcuma Pepe Nero zenzero 120 cpr Curcumina Piperina Brucia Grassi | [HorribleSubs] Banana Fish - 21 [1080p] mkv | Supernatural VF