The Prevalence of Production Sharing Contracts in Oil and Gas

Abstract IntroductionBackgroundThe nature of the environment in which a business operates controls how it engages other players in the sector. This, therefore, determines the types of contracts that businesses get into. The anele and drift industry relies on contracts to carry out its activities just like other business entities do. The fossil oil colour and feature industry mainly engages occupation sacramental manduction contracts, driven by the numerous stakeholder interests the sector has.Research TopicThe Prevalence of proceeds manduction Contracts in oil and Gas (Case Study of Sonangol, an Angolan Oil Company)AimThe consider of the study is to establish the preponderance of production share contracts in the oil and brag industry, with particular interest in Sonangol, an oil company in Angola.ObjectivesThe objectives of the study areTo determine the nature of the oil and gas business in Africa To determine the types of contracts administered in the oil and gas se ctor To determine the share of production overlap contracts relative to other types of contracts To establish the reasons for sufferance of production communion contracts at SonangolResearch questionsWhat types of contracts does Sonangol engage Are production sharing contracts prevalent at Sonangol Why does Sonangol adopt production sharing contracts What benefits and challenges do Sonangol get by using production sharing contracts Literature ReviewKey WordsContracts, Production communion Contracts, Effects, Prevalence, Economics, International Oil Companies, National Oil Companies, AngolaKey LiteratureBindemann, K., 1999. Production Sharing Agreements An Economic AnalysisThis source touches on the economics of production sharing agreements with reference to oil and gas in Angola and the midriff East.Bindemann, K. 2000. The Response of Oil Contracts to Extreme Price Movements. Discussion Paper. Department of Economics (University of Oxford). Fattouh, B. and Darbouche, H., 2010. North African oil and foreign investment in changing market conditions. brawn Policy, 38(2), pp.119-1129.Gaps in literatureMost literature refers to situations in North Africa and the Middle East and non Angola or Sonangol. Most available literature is more than five days old. Chances are that the conditions have changed, rendering them irrelevant to current circumstancesThis arm presents an analysis of existing literature on Oil and Gas in Africa and Angola in particular, while studying the types of contracts that oil and gas companies utilize. This is broken dump into subtopics as followsOil and gas in AfricaThis section provides a oecumenic overview of the oil and gas industry, set off the major players companies, countries, communities, and other stakeholders. History of the oil and gas industry in Africa Challenges in the African oil and gas industryOil and gas in AngolaThis section provides an overview of the Angolan oil and gas industry, highlighting the major players companies, communities, and other stakeholders. History of the oil and gas industry in Angola Challenges in the Angolan oil and gas industry Merits of oil and gas to the Angolan EconomyContracting in the oil and gas industryTypes of contracts administered in the global oil and gas industry Comparison between contracting in Africa and the Middle EastProduction Sharing ContractsIdentify the parties involved equipment casualty and conditions Benefits/demeritsContracting at Sonangol (Types of contracts)Encompasses all types of contractual agreements Sonangol engagesCriteria Sonangol uses to divide the type of contractual agreements it usesRatio of contracts based on typeProduction sharing contracts at SonangolThe nature of production sharing contracts at Sonangol Parties involved Responsibility Terms and conditions Research MethodologyThe study will follow the constructivist approach and affirm on the analysis of secondary data that will be obtained twain from the private and publi c domain. Of particular interest will be records from Sonangol and researches print in journals. The research will use catalogues to prove relevant books and indexes to locate appropriate periodicals. In addition, the study will use the Internet to make relevant electronic resources and databases. An analysis of the books, periodicals, and databases would follow to ascertain the authority and eccentric of information. Data analysis will be quantitative.Findings i.Reasons for the adoption of production sharing contracts at Sonangolii.Advantages of production sharing contracts at Sonangol iii.Disadvantages of production sharing contracts at Sonangol iv.Comparison between production sharing contracts and other types of contracts at SonangolDiscussionDiscuss the reasons for the prevalence of production sharing contracts at Sonangol, their merits, demerits, and challenges.ConclusionSummary of the suitability of production sharing contracts at Sonangol. Are they the best for the oil a nd gas industryShould they be upheld?ReferencesList of all works cited in the studyAppendicesRelevant documents, tables, and graphs