Page 3 - Contract Area News Today

Investegate announcements from Scirocco Energy PLC, Ruvuma Divestment and announcement of GM

Estimated to have roughly 14 billion barrels of reserves in place, the West-Qurna 2 oilfield, run by Lukoil, is set to produce more than 1 million bpd after the Russian oil major resolved its differences with Baghdad

In commercial contracts for energy industry operations there is reasonably prudent operator standard and the good and workmanlike standard. We are seeing cases where there is interchangeability of a reasonably prudent operator standard with a good and workmanlike standard.

In commercial contracts for energy industry operations there is reasonably prudent operator standard and the good and workmanlike standard. We are seeing cases where there is interchangeability of a reasonably prudent operator standard with a good and workmanlike standard.

The standard of care is an important provision in any operating, management or services agreement because it sets forth the expectations of the parties as to how the contract should be...

The amendment gives government powers to ensure that Ugandans benefit from the oil revenues.

Russian oil giant, Lukoil, has filed a preliminary development proposal with Iraq’s Oil Ministry for the Eridu oilfield, which is estimated to contain up to 12 billion barrels of crude oil

As Western oil companies leave Iraq, Russia is taking the opportunity to advance its own interests in the fossil fuel-rich country

Ismaila Shittu To build virile, sustainable national institutions, uphold due process in diverse arenas and grow the nation’s economy, the sanctity of contracts must be respected. This is the pathway through which Nigeria can be taken seriously by international investors the country cherishes, as well as by other nations. An awareness of this necessity clearly must have informed President Muhammadu Buhari’s enlightened intervention to reverse the misapplication of authority and miscarriage ...

On December 17, 2020, the National Hydrocarbons Commission (" CNH") published in the Federal Official Gazette (" DOF") the Resolution CNH.E.50.002/2020 (the " Resolution"), by means of which the Administrative Provisions regarding Bidding for Exploration and Production Contracts of Hydrocarbons were amended (the " Provisions"). The Provisions regulates the acts and stages of the bidding process carried out by CNH to award the Exploration and Production Contracts (Contratos de Exploración y Ext...