Introduction

This article addresses some of the more significant non-fiscal provisions of petroleum production sharing agreements for use in developing countries, as well as the legislative framework and the bidding and negotiation procedures. For ease of reference, it will not distinguish between host country governments and national oil companies in such countries but will refer only to the government. This should be understood to be a reference to whichever is the appropriate party in any given circumstance. It should be emphasized that there are no hard and fast rules; there are only ...