THE VARIOUS STRUCTURES FOR GRANTING PETROLEUM LICENCES AROUND THE WORLD

• Main Authors: Darryl Egbert, Brian Livingston
• Format: Article
• Language: English
• Published: University of Calgary 2019-10-01
• Series: The School of Public Policy Publications
• Subjects: petroleum concessions; production sharing agreements; drilling rights auctions
• Online Access: http://dx.doi.org/10.11575/sppp.v12i0.68277

This paper summarizes the various structures used throughout the world to grant petroleum licences to industry players wishing to develop an oil and gas resource. It describes the various structures that are used, such as concessions, production-sharing agreements and joint ventures, among others. The paper goes on to describe the various economic obligations that governments impose on industry in return for granting rights under their petroleum licensing systems. Finally, it describes the various processes used by governments to grant these rights, such as public auctions of generic rights, public requests for proposal and negotiation, restricted invitations and negotiations.