International exploration and production is challenging and exciting. Negotiating with governments and understanding the dynamics of their fiscal systems and/or production sharing contracts can mean the difference between success and failure.
Long-time industry consultant, negotiator and lecturer, Daniel Johnston, provides an extremely clear and practical perspective on:
• International exploration economics and risk analysis
• Petroleum fiscal system analysis and design
• Contract negotiations
• Economic, financial and accounting aspects of: production sharing contracts, and royalty/tax systems.
International Exploration Economics, Risk, and Contracts Analysis is an anthology of articles from Johnston’s column in the Petroleum Accounting and Financial Management Journal (PAFMJ)—Institute of Petroleum Accounting, University of North Texas. While some chapters date back a number of years, the key chapters and concepts have been dramatically updated with detailed examples.
Acknowledgments
Introduction
Chapter 1 : International Petroleum Fiscal Systems – PSCs
Chapter 2 : State-of-the-Art in Petroleum Fiscal System Analysis
Chapter 3 : Thinking of Going International? Some Useful Tips
Chapter 4 : Trends and Issues in Foreign PSCs
Chapter 5 : Current Developments in PSCs
Chapter 6 : The International Gas Industry
Chapter 7 : Key Concerns of Governments and Oil Companies—Alignment of Interests
Chapter 8 : Fiscal System Design—the Ideal System
Chapter 9 : Economic Auditing/Modeling—Art and Science, Part-I
Chapter 10 : Economic Auditing/Modeling—Art and Science, Part-II
Chapter 11 : Finger on the Pulse—Phuket 2001
Chapter 12 : Kashagan and Tengiz—Castor and Pollux
Chapter 13 : The Bidding Dilemma—a 20-Year Retrospective
Chapter 14 : Retrospective, Government Take—Not a Perfect Statistic
Chapter 15 : Additional Commentary on Key Issues
Chapter 16 : Sample Contracts & Summaries
Glossary
Abbreviations and Acronyms
Index
