National and Comparative Oil and Gas Law
The module aims to provide an understanding of the regulatory and contractual mechanisms required to make a single jurisdiction work in relation to petroleum law. The emphasis is on providing the student with knowledge and understanding of the differences (and similarities) between regimes based on licences, and those based on production sharing contracts.
All oil and gas law throughout the world is the same at a basic level – international law determines which state is entitled to the resource; the entitled state grants rights to individuals to extract the resource; the individuals agree amongst themselves as to how to split the costs and benefits; there is unitisation if necessary; the production is taxed; pipelines etc are built to move the production; the production is sold; and the facilities are ultimately decommissioned. This module aims to show the different models states adopt to facilitate petroleum production, including showing the role for state companies.