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Comparing Service Contract and Petroleum Sharing Agreement in Nigeria

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Added on  2020-06-06

Comparing Service Contract and Petroleum Sharing Agreement in Nigeria

   Added on 2020-06-06

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Comparing servicecontract and petroleumsharing agreement inNigeria
Comparing Service Contract and Petroleum Sharing Agreement in Nigeria_1
TABLE OF CONTENTSTitle: "Comparing service contract and petroleum sharing agreement in Nigeria".........................1INTRODUCTION...........................................................................................................................11.1 Overview..........................................................................................................................11.2 Rationale of Study............................................................................................................1Research Aim.........................................................................................................................1Research Objectives...............................................................................................................2Research Question..................................................................................................................22. LITERATURE REVIEW............................................................................................................22.1 Current production sharing contract and service contract in the petroleum industry ofNigeria....................................................................................................................................22.2 The role of petroleum sharing agreements in Nigeria.....................................................32.3 Compare service contracts and petroleum sharing agreements in Nigeria......................33. RESEARCH METHODOLOGY.................................................................................................33.1 Type of Investigation........................................................................................................33.2 Data Collection Method...................................................................................................43.3 Sampling Method.............................................................................................................43.4 Accessibility Issues..........................................................................................................43.5 Ethics & Health & Safety issues......................................................................................43.5 Data Analysis Plan...........................................................................................................53.7 Research Limitations........................................................................................................5ANTICIPATED FINDINGS...........................................................................................................6TIME TABLE..................................................................................................................................6REFERENCES................................................................................................................................7
Comparing Service Contract and Petroleum Sharing Agreement in Nigeria_2
Title: "Comparing service contract and petroleum sharing agreement inNigeria"INTRODUCTION1.1 OverviewContracts are the written agreements based on laws by the two parties. There are varioustypes of contracts such as Concession, joint venture, service and production sharingcontract(PSC). There are different rights provided for the petroleum industry in order to extractand sell the oil/gas (Onoh, 2017). However, choosing appropriate contract is very necessary forthe company in order to earn profit. Under service contracts which is based under governmentmandate's and they pay to contractors which further pay for exploration, development and work.Through this government can maintain title of reserves, ownership and assets and for thecontractors there is no risk while in PSC state-companies along with contractor-company comesfor the specific period of time (Ovadia, 2014). Finance for exploration and development isprovided by contractor. Under service contract there is no risk to contractor and complete riskand reward goes to government while in production sharing contractor has risk in explorationand rewards are shared by both. Current report focus on the service contract and petroleumsharing agreement in Nigeria1.2 Rationale of StudyFor extracting the petroleum and other natural products there is requirement of the legalcontracts which helps to identify the contractor and government involvement. The research iscarried out so that comparison can be made on service contract and production sharingagreement (PSA). Hypothesis:PSA is most used in NigeriaPSA are advantageous than service contract. Research AimThe aim if the study "To assess the production sharing contract and service agreements inNigerian Petroleum industry". The is based on the two aspects that is service contracts and petroleum sharingagreements in context to the country Nigeria. 1
Comparing Service Contract and Petroleum Sharing Agreement in Nigeria_3

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