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Stabilisation and Renegotiation Clauses in Production Sharing Contracts: Examining the Problems and Key Issues

机译:生产分成合同中的稳定和重新谈判条款:研究存在的问题和关键问题

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摘要

The aim of this article is to examine the use and legal implications of stabilisation and renegotiation clauses in production sharing contracts (PSCs) in the petroleum industry, especially as a means of guaranteeing contractual security. It identifies relevant issues and comments on problems arising from the use of these clauses in guiding the relationships of parties, especially as a contractual tool for risk management. Exploration and production (E&P) arrangements in the petroleum industry are unique for their long-term durations and "high-risk" profiles.2 A principal function of long-term contracts is to facilitate trade and guard and guide relationship-specific investments of contracting parties. As it is well known, the industry's history shows a willing disposition towards nationalisation, expropriation, breach of contract or renegotiation and review of terms. Therefore, it is important for parties to E&P arrangements to protect themselves through appropriate contractual and regulatory mechanisms, securing their investments against the changing and cyclical fortunes of oil and gas prices and related costs,3 including legal and political risks,4 geological, environmental and technological risks.5
机译:本文的目的是研究石油行业生产共享合同(PSC)中稳定和重新谈判条款的使用及其法律含义,尤其是作为保证合同安全的一种手段。它确定了相关问题,并对使用这些条款指导各方之间的关系而引起的问题提出了评论,尤其是作为风险管理的合同工具。石油行业的勘探与生产(E&P)安排因其长期持续时间和“高风险”特征而独具特色。2长期合同的主要功能是促进贸易,保护和指导特定于合同的关系投资派对。众所周知,该行业的历史表明愿意对国有化,征用,违反合同或重新谈判以及条款审查进行处置。因此,对于勘探与开采安排的当事方而言,重要的是通过适当的合同和监管机制保护自己,确保其投资免受石油和天然气价格及相关成本3的变化和周期性影响,包括法律和政治风险4,地质,环境和环境风险。技术风险5

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  • 来源
    《International energy law review》 |2011年第7期|p.276-284|共9页
  • 作者

    Tade Oyewunmi;

  • 作者单位

    Member of the Nigerian Bar Association and Energy Institute (UK);

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  • 原文格式 PDF
  • 正文语种 eng
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