Production-sharing agreements : an economic analysis

Working paper

Production-Sharing Agreements (PSAs) are among the most common types of contractual arrangements for petroleum exploration and development. Under a PSA the state as the owner of mineral resources engages a foreign oil company (FOC) as a contractor to provide technical and financial services for exploration and development operations. The state is traditionally represented by the government or one of its agencies such as the national oil company (NOC). The FOC acquires an entitlement to a stip...

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Authors: Bindemann, K

• Publication status: Published
• Peer review status: Reviewed (other)
• Publisher: Oxford Institute for Energy Studies Publisher's website
• Series: OIES paper
• Publication date: 1999-01-01
• Paper number: M25
• ISBN: 1901795152
• Language: English
• Keywords: FOC; risk; risk allocation; mineral development; principle-agent model; OIES; petroleum contract; NOC; reward; risk-reward analysis; oil production contracts; production sharing agreement; sharecropping