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Petroleum Resource Management

How Governments Manage Their Offshore Petroleum Resources

John A.P. Chandler

This thought-provoking book examines how countries manage their offshore petroleum resources by comparing the different approaches to licensing and regulation taken by Australia, Norway and the UK. It is based on extensive research into their policies and management practices, including interviews with government regulators and companies. These countries all face similar challenges as their offshore petroleum basins mature which means smaller discoveries, marginal production and ageing infrastructure. John Chandler analyses how their petroleum policy, systems of regulation, and regulators developed up to the present, and how they are responding to these challenges, as well as how they deal with exploration, development, infrastructure sharing and production.
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Chapter 4: The companies

John A.P. Chandler

Extract

This chapter first classifies the companies involved in offshore petroleum by dividing them between international oil companies from the super majors down and national oil companies. It then looks at the challenges they are facing, including climate change, the ‘Grand Transition’ from fossil fuels to alternative energy and growing social responsibility, reflecting on scenarios prepared by those companies and organisations like the World Energy Council and the International Energy Agency. It examines the published strategies of the eight largest IOCs to see how they plan to deal with those challenges and how they report on sustainability and corporate social responsibility. It considers how the use of unincorporated joint ventures can affect resource management.

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