An evaluation of production sharing contracts and service contracts laws in the petroleum industry in Nigeria

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Periodical article

Title:	An evaluation of production sharing contracts and service contracts laws in the petroleum industry in Nigeria
Author:	Edu, O.K.
Year:	2006
Periodical:	Lesotho Law Journal: A Journal of Law and Development
Volume:	16
Issue:	2
Pages:	293-327
Language:	English
Geographic term:	Nigeria
Subjects:	law of contract petroleum industry multinational enterprises
Abstract:	This article evaluates production and service contracts in the petroleum industry in Nigeria. It defines the concepts of production sharing contracts and services contracts, discusses the basic features of both contracts and assesses the impacts of both contracts in Nigeria. It is the view of the author that, although production sharing contracts and service contracts contain terms that are favourable to Nigeria, in matters of ownership over the country's hydrocarbons and the provision of risk capital by multinational oil companies, they are in the main not different from other types of petroleum arrangements in the sense that multinational oil companies are still the sole operators under these contracts and their efforts to transfer technological capability to Nigeria leave much to be desired. Notes, ref., sum. [Journal abstract]