Table of Contents

Introduction 5
Dr Eduardo G Pereira
STR Holding

Part I: Petroleum title

Royalty and tax regime 7
Marc Hammerson
Anthony Martinez
Akin Gump Strauss Hauer & Feld LLP

Production sharing agreements 33
Anna Ovcharova
Rosneft

Service agreements 51
Anthony Patten
Shearman & Sterling

Hybrid agreements 63
Harry W Sullivan
ConocoPhillips

Part II: Consortium agreements

Joint bidding agreements 71
Marc Hammerson
Anthony Martinez
Akin Gump Strauss Hauer & Feld LLP

Joint study agreements 83
Dario Arias
Resources Energy Consulting

Joint venture agreements 93
Debra J Villarreal
Thompson & Knight LLP

Joint operating agreements 103
Dr Eduardo G Pereira
STR Holding

Lifting agreements 121
Tracey Greenaway
Kate Siopis
Allens

Joint sales and marketing agreements 133
Luis Pacheco
Veirano Advogados

Unitisation and unit operating agreements 147
Andrew B Derman
Thompson & Knight LLP
Danielle Ludwig
L.O. Baptista, Schmidt, Valois,
Miranda, Ferreira, Agel

Part III: Key stakeholders

Governmental authorities 163
Roman Opimakh
Economic Reforms Coordination Center

National oil companies 175
José Alberto Bucheb
Petrobras

International oil companies 187
Anna Ovcharova
Rosneft

Independent oil and gas companies 193
Winston Fritsch
Petra Energia

Service companies 203
Andrea Falcao
Schlumberger

Part IV: Regulatory framework

National constitution 209
Kim Talus
University of Eastern Finland

Petroleum law 213
Kim Talus
University of Eastern Finland

Health, safety and the environment 219
John Paterson
University of Aberdeen

Procurement 229
El-Tayeb Murkaz Ali
University of Khartoum

Surface rights 243
Luis Pacheco
Veirano Advogados

Applicable laws, part I 247
Andrew Melsheimer
Thompson & Knight LLP

Applicable laws, part II 253
Kim Talus
University of Eastern Finland

Part V: Finance

Equity participation 257

Anna Ovcharova
Rosneft

IPO 265
Victoria Younghusband
Speechly Bircham LLP

RBL 275
Nick Ross-McCall
Huw Thomas
Ashurst LLP

Part VI: Mergers and acquisitions

Direct acquisitions from the host government 297
Dario Arias
Resources Energy Consulting

Contracts for the sale, exchange or economic transfer of interests 307
Peter Roberts
Andrews Kurth LLP

Part VII: Governing law and dispute resolution

Petroleum title 325
Andrew Melsheimer
Thompson & Knight LLP

Applicable law 327
Paul Cohen
William M Katz
Thompson & Knight LLP

About the authors 333

Index 341