A New Approach to Petroleum Licensing
Article from: OGEL 1 (2004), in Roundup of Articles
Summary
The licensing of petroleum prospective acreage has been for some time a transaction between the petroleum rights-holder (usually the government but also in some circumstances private landowners and tribal or common interests) and the International Oil Companies, the IOCs. In government, a Ministry of Oil and Gas/Power/Energy/Natural Resources mandates a Petroleum Licensing and Monitoring Unit, PLMU, with the administrative tasks of promotion and licensing. The latter group within the Ministry is a regulatory body independent of the State Oil Company. The promotion and licensing ...