From Total Immunization to an Economic Balancing Act: The Trajectory of Stabilization Clauses in Ghana's Petroleum Agreements
Article from: OGEL 2 (2019), in Africa
This article conducts an analytic review of this journey with the objective of tracing the evolution of the stabilization clauses that have been adopted in successive petroleum agreements, to understand the rationales and underlying justifications for their use, and to assess their impact and practical outcomes. The article focuses on the use of stabilization clauses in Petroleum Agreements executed from the period preceding the country's large-scale commercial discovery of oil in 2007 to date. Ghana adopted both freezing clauses and economic equilibrium clauses prior to ...