Show Less
You do not have access to this content

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.
Show Summary Details
You do not have access to this content

Chapter 6: Economic recovery and good oilfield practice

John A.P. Chandler

Extract

This chapter looks at the concepts and tests, particularly economic tests, used to guide licensing systems and seeks to find if there is any common ground. The chapter starts by comparing the Australian, Norwegian and UK approaches. The Australian approach is based on following good oilfield practice and optimum long-term recovery, both of which are examined in this chapter. The Norwegian system is based on high-level principles including what this book calls the Prudent Production Principle, which is also examined – so too is the UK approach contained in MERUKS which relies on maximising economic recovery of UK petroleum, but subject to safeguards including one of protecting ‘satisfactory expected commercial return’. This chapter also examines ideas of efficient recovery and waste developed in the US.

You are not authenticated to view the full text of this chapter or article.

Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.

Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.

Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.


Further information

or login to access all content.