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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 7: Resource management policy

John A.P. Chandler

Extract

This chapter examines offshore petroleum policy from the 1960s through to the present. Australia is characterised by its federal system and broad policy to maximise national prosperity by creating a framework for companies to explore and produce with limited state intervention. In contrast the Norwegian state’s policy has set objectives to benefit Norwegian society and uses a greater degree of state intervention. UK policy was similar to Australia’s and was based on attracting companies to become energy suppliers. The Wood Review in 2014 identified a need to evolve the licensing system to deal with the maturity of the UKCS. This saw the introduction of MERUKS and a new independent regulator, the OGA. The chapter compares the different approaches and discusses how they perform against those of the State Petroleum Governance Criteria dealing with stewardship.

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