Oil and Gas Production Contracts

Description: BOOK REVIEW

OIL AND GAS PRODUCTION CONTRACTS First Edition

By Anthony Jennings plus a specialist team of contributors

ISBN: 978-1847037503 Thomson Reuters Sweet & Maxwell

www.sweetandmaxwell.co.uk

JENNINGS STRIKES OIL HERE!

An appreciation by Phillip Taylor MBE and Mrs Elizabeth Taylor of Richmond Green Chambers

Looking for a legal text on oil and gas production contracts? One that is authoritative, detailed, international and precisely targeted to this particularly specialized area of law? You are? Well this is the book for you. Yes, Anthony Jennings and his team give some definitive and practical legal advice on oil and gas production contracts, applicable in all jurisdictions worldwide.

‘Oil and Gas Production Contracts’ is not, we are sure you will note, to be confused with ‘Oil and Gas Exploration Contracts’; different specialist area -- different book. Actually, the first is a sequel to the second -- both by the same author -- and if you have client companies in the oil business, you will ultimately need both.

Certainly, there can be great lengthy periods of lead time between oil or gas exploration (looking for it) and production (extracting it and marketing it once you’ve found it). But once your client company really has stuck oil, this book emerges with flags flying as an invaluable advisor and practical guide to all contractual matters pertaining to the production process.

Author Anthony Jennings knows whereof he speaks. As head of a specialist team of contributors to this text, (from Denton Wilde Sapte, McGrigors, Norton Rose, CMS Cameron McKenna and Chevron) he is a former senior legal adviser at ChevronTexaco…a member of the United Kingdom Energy Lawyers Group…and author and contributor to a number of books and publications on oil and gas, including ‘Natural Gas Agreements’.

As he explains, this book ‘completes the suite of agreements encountered in the upstream oil and gas industry.’

The different kinds of agreements that emerge at successive stages of oil production are dealt with, including:

• The license or production sharing agreement that emanates from the client company’s relationship with the host government •The agreements between the joint venture companies themselves •Agreements between those companies and their third party service providers, as well as their agreements with other joint ventures •Oil and gas sale and purchase contracts •And finally, agreements for acquiring or disposing of producing assets or license interests.

The nature and the purpose and the terms of all these agreements are examined, including ‘what they should provide for and how they should provide for it.

Intended to be read as a coherent whole, the book can certainly be used subsequently as a reference tool. It does what the title on the cover indicates. It provides a detailed understanding of all the common production phase contracts in which each clause is systematically analyzed.

Valuable insights are offered into the nature, purpose and consequences of each contract, together with a renewed awareness of the common pitfalls of each.

While it is not within the scope of the book to go into individual detail about specific Government regulations and so forth -- except illustratively -- its focus on the common features of production contracts worldwide make it a valuable addition to the energy lawyer’s library virtually anywhere within today’s global economy so Jennings certainly strikes oil here!

ISBN: 978-1847037503