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Protection against Default in Long Term Petroleum Joint Ventures

Subtitle:
OIES paper: WPM 47
Abstract:

Sharing costs and risks are the basic foundation of any the joint venture. However, the required financial commitments might be jeopardized either by a co-venturer who cannot afford the payment of the related costs or a co-venturer who simply chooses not to pay its share. The petroleum industry tends to rely on the forfeiture of interests as a threat to deter such behaviour but as a remedy this is often uncertain in times of its enforceability and could operate to the benefit of the defaultin...

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Publication status:
Published
Peer review status:
Reviewed (other)
Version:
Publisher's version

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Institution:
University of Oxford
Research group:
Oxford Institute for Energy Studies
Publisher:
Oxford Institute for Energy Studies Publisher's website
Publication date:
2012
URN:
uuid:6d7b8660-22be-4985-83e5-378c94e2e9d5
Local pid:
ora:10331
ISBN:
978-1-907555-47-3

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