Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/246515 
Year of Publication: 
2012
Series/Report no.: 
OIES Paper: WPM No. 47
Publisher: 
The Oxford Institute for Energy Studies, Oxford
Abstract: 
Sharing costs and risks are the basic foundation of any the joint venture. However, the required financial commitments might be jeopardized either by a co-venturer who cannot afford the payment of the related costs or a co-venturer who simply chooses not to pay its share. The petroleum industry tends to rely on the forfeiture of interests as a threat to deter such behaviour but as a remedy this is often uncertain in times of its enforceability and could operate to the benefit of the defaulting party. The options to consider are collateral support provision, secured interests and cross-default options structured over wider asset interests. The recommendations which should arise out of this research intend to provide safer guidance for a long term relationship in a joint venture in the petroleum industry.
Persistent Identifier of the first edition: 
ISBN: 
978-1-907555-47-3
Document Type: 
Working Paper

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.