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Annual Production of Total Liquid Petroleum and Impact on Future Trend

The annual production of all petroleum producing countries had been growing steadily year-on-year with Brazil showing the steepest climb in the last five years. The production rates were kept on full steam ahead to meet the actual consumption demand, stock requirements, strategic reserves and speculators indulgence in market economy. This led to the price increase [...]

June 7th, 2016|Categories: Blog, FPS Conversion and Rig Building Projects|0 Comments

Potential of Hong Kong as a Business Centre for Offshore Oil & Gas Industry Segments

Hong Kong can become an ideal location for the OSV Operators and Offshore Oil & Gas Exploration Companies, in the near to long term future, provided concerted efforts by the government and a favorable eco-system is put in place soonest. This proposition is based on four key drivers of strategic importance: In context of the [...]

Opportunities for Offshore Supply Bases in Supporting OSVs with Loss of Charters!

How to benefit from the stagnant demand for oil & gas sector, with oil price hanging below psychological benchmark of US$50/barrel? It has made some dents on offshore E & P support service providers. There are two most loyal and closest service providers as almost like partners of oil majors, field operators and E & [...]

Mediation – a Virtue or an ADR Forum in Continuous Evolution!

Evidence of Mediation in Scriptures and History Between God and Abraham (Genesis 18:23-33) Dispute: God wanted to destroy Sodom because of their wickedness but Abraham interceded Abraham asked if there were 50 righteous men in Sodom will You destroy the righteous with the wicked? God said no, if there were 50 righteous He will not [...]

Loss-Time Schedule Management in EPCIC Contracts

Time, Time and Time Again! How many time you hear this: Time is of the essence! Time is critical! Delivery Time is important! Liquidated damages for delay in delivery time will be enforced! Right for Termination and or Rescinding of a contract for delays in delivery! The above phrases and similar sounding clauses are heard, [...]

January 21st, 2016|Categories: Blog|Tags: , , , , |0 Comments

Role of International Private Law in Jurisdictions Without Jurisprudence of Oil & Gas Exploration Contracts

The series of commercial and legally enforceable agreements lays the foundation of exploitation of an offshore Oil & Gas field. The legislation for exploitation of natural reserves, specifically oil and gas from the sea bed, began in the 1950s in North America. The trend continued to grow through mostly domestic resources. In the 1970s with [...]