Pursuing Joint Activity: International Experience and its Efficacy in Russia
Article from: OGEL 4 (2013), in Joint Operating Agreements & National Oil Companies: Challenges and Dynamics
Introduction
Short paper presented at the AIPN Seminar in Moscow on 21 November 2012. Before descending into discussion about the efficacy of various contractual structures for pursuing joint activity it is important to take a step back and ask the question as to what are the typical objectives of an investor in an oil and gas project. They may generally be identified as the following: to develop reserves, add to the inventory, and maximise equity returns; to diversify an asset base across countries by way of forming consortia; to minimise capital and operating costs (and maximise operational ...