Oil and Gas Exploration and Production Contracts in Nigeria: Creating a Balance Between National Oil Companies and Private International Partners
Article from: OGEL 1 (2018), in Africa
Abstract
Over the years, Nigeria, like many other countries, has struggled with the challenge of adopting a contract which serves both its own interest and that of International Oil Companies (IOCs). While Nigeria has been successful in adopting certain contracts that allow it to develop its oil and gas reserves and ensure that IOCs gain return on their investments, it has been unable to attain revenue maximization. This is partially due to poorly drafted fiscal and environmental clauses within the contracts. This paper analyses the types of oil and gas contracts adopted in Nigeria ...