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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 9: Exploration

John A.P. Chandler

Extract

This chapter examines the way in which Australia, Norway and the UK issue licences to companies to explore for petroleum. It commences by comparing their exploration strategies and then how they market licences through licensing rounds (in Australia called an acreage release). It explores the choices they make about block size and licence conditions. It then compares the requirements for applications and how they are assessed in a competitive process. The chapter looks at the conditions of licences such as their term and work requirements and variations after the issue of a licence. It brings out points of difference in the treatment of mature areas, assessment criteria and the process of award.

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