Description:

This Section 5 ("Minimum Exploration Commitments") of the Government Petroleum Contract Handbook - Volume No. 2 ("GPC Handbook") is further to Sections 1-4 of the Host Government Contract Handbook (For the International Petroleum Industry) - Volume No. 1 (“HGC Handbook”) (also authored by Frank Alexander and also available on the AIPN website). The HGC Handbook has been renamed the GPC Handbook, the term "Host Government Contract" ("HGC") having been replaced by the more descriptive term "Government Petroleum Contract" ("GPC"). Three more Sections of the GPC Handbook, by different contributing authors, with Frank Alexander serving as Editor in Chief, are under way. The GPC Handbook (and its predecessor, the HGC Handbook) provides an analysis of selected articles found in government petroleum contracts (“GPCs” - the full range of contracts between a petroleum company and a host country, inclusive of production sharing agreements, royalty/tax contracts [“concessions”] and service contracts). The purpose of the GPC Handbook is to provide an academic review of selected articles found in GPCs. There is no intent whatsoever to put forward “model provisions” for use in the negotiation of GPCs, or to suggest the content of provisions to be contained in any given GPC (those matters necessarily depend upon the individual circumstances of each negotiation).