Institutional Cooperation in Oil and gas: Governments, Companies and the Investment Climate
Article from: OGEL 1 (2005), in Production Sharing Contracts
Introduction
Governments, national oil companies (NOCs) and international oil and gas companies (IOGCs) face the ongoing challenge of formulating investment programs to replace their current reserves. As mature fields increase the capital costs of investments while reducing the rewards, and some traditionally oil producing areas transition into gas, both the public and private sectors have begun to face new investment challenges. To meet the investment needs of their countries, producing governments often have to turn to IOGCs to work with their NOCs in maximizing the potential of these countries' ...