Olufola Wusu

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Before the PIB…What to Look for in Oil & Gas Contracts

By Olufola Wusu
Possibly in anticipation of the PIB there has been a steady shift of the interest of Oil Majors from Nigeria’s shallow waters to deep offshore fields with higher risk and huge returns, Chevron being the latest oil major to indicate an interest in divesting its stakes in two shallow water oil blocks.
Old and new energy lawyers are probably going to have their hands full with the increase in transactional and regulatory compliance briefs that come with the sale and purchase of Oil and Gas assets. This article attempts to give a brief overview of some key issues in Oil and Gas Contracts.