Change in Control Clauses
Article from: OGEL 1 (2006), in Production Sharing Contracts
Introduction
ISSUE: Whether the use of Change in Control Clauses in production sharing contracts, licenses and sub-licenses would be effective in stopping companies from trading shares in special purpose vehicles in order to transfer rights in these concessions without having to seek the consent of the minister responsible for petroleum matters? It is the practice of the most Governments to carefully vet companies (hereafter "Licensees") to which licenses, sublicenses and production sharing contracts (hereafter "Concessions") are granted. These companies are closely scrutinized for; inter ...