How production sharing agreements have had to adapt



From their very inception, oil agreements/contracts have embodied dynamic processes between states, as sovereign owners or guarantors/regulators of rights to a country’s petroleum wealth, and individuals/oil-companies that contract to develop this wealth. They are living documents, which respond to their special location (local/regional/international) as well as the varied dimensions of society (social, economic, political, and environmental), in which they are situated. Contracts are also interactive; they drive societal responses as well.

Today’s column briefly portrays how Guyana-type production sharing agreements (PSAs) have responded to these societal forces.

Cost recovery

Responding to concerns about how ….


The ‘fiscal terms’ of Guyana’s 2016 Production Sharing Agreement (PSA) Part 2

Introduction Last Sunday’s column introduced a simple basic ‘Setting’ (as energy analysts label it) or more commonly, analytical framework drawn from energy economics, under which the Guyana 2016 Production Sharing Agreement (PSA) will be appraised in coming columns.

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Debate, analysis of Guyana’s 2016, Production Sharing Agreement (PSA)

Introduction Last week’s column highlighted my conviction that, even though there are model petroleum contracts, there are no perfect ones.

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Guyana’s PSA: Is the Indonesian gross split production variant a magic bullet?

Despite last week’s publication of the Guyana 2016 Production Sharing Agreement (PSA/PSC); today’s column wraps up my evaluation of model PSAs/PSCs.

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Critique of Guyana-type production sharing agreements

Introduction Production sharing agreements or contracts (PSAs), have been, from the time of their earliest introduction to the oil and gas sector, subjected to in-depth critical analyses and/or evaluations from economic, legal, and institutional perspectives.

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Guyana-type petroleum contracts: Intellectual origins and dynamics

Introduction At the time of writing this column media reports indicate that a signature bonus of US$18 million has been paid to the Government of Guyana (GoG) by Exxon and its partners.

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