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International Upstream Investments: Legal Framework Warsaw 01/03/2013 1.
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Transcript of International Upstream Investments: Legal Framework Warsaw 01/03/2013 1.
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International Upstream Investments: Legal Framework
Warsaw 01/03/2013
1
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1. Types of Investor
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a) Oil and Gas Company
- IOC/NOC- Major Company- Independent Company - Small Company
b) Others
- Oil and gas Service Companies- Investment Fund
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2. Strategy
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2.1 Location a) Onshore
b) Offshore
b.1 shallow waters
b.2 deep waters
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2. Strategy continuation
4
2.2. Stage a) Frontier
b) Traditional
c) Mature
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2. Strategy continuation
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2.3. Type of play a) Conventional
b) Unconventional
- Shale gas- Tight Gas- Shale Oil- Etc
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2. Strategy continuation
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2.4 Level of exposure a) Political risk
b) Security Risk
c) Geological Risk
d) Technical Risk
e) Environmental Risk
f) Financial Risk (e.g. fiscal terms)
g) Bureaucracy Risks (e.g. delays)
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3. Acquisition/Negotiation
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a)Bid round/Direct Negotiation- Concession Agreement/Licence- PSC- Service Contract- Hybrid
*JSA/JBA
b) Farm-in - FOA- JOA
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5. Investment Protections
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a) BIT
b) DTT
c) Stabilisation Provision
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6. Structure of the Investment
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a) Is it required a local company by the local law?
b) If so should it be a subsidiary or a branch? What is the most efficient legal structure?
c) Should you have one block per contract ?
d) Should you have one contract per company?
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7. Operations
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a) Required Staff (local content issue)
b) Who are the companies available to operate in this environment?
c) Prepare and approve a WPB
d) How will you fund the operations?
d) Comply with local laws & Implement best practices
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7. Conclusion
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a) Clear goals
b) Efficient Structure b) Flexibility
d) Agility