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COURSEWORK
Assignment Introduction
The purpose of this assignment is to have you assess the attractiveness of the oil and gas industry from a variety of perspectives. Assignment Instructions
Your submission‟s word count must not exceed 4000 words. There is no lower limit. Please note that submissions that are too long will be penalised, at the markers discretion, by having up to 10% deducted from the final score. Word count is to be the body of the report, including tables, figures and graphs and excludes index and appendices. However, appendices are only to be used to support report conclusions and not to include new material or arguments not made in the report itself. Excessive use of Appendices and inclusion of pdf images of tables, etc (to avoid MS Word scrutiny) will be judged as a form of word count avoidance and, at the markers discretion, dealt with accordingly
An executive summary is not required.
Do not repeat the question as part of the answer
Please use 12pt Arial font.
The assignment submission must include A Title page including the Module title, Module reference number, word count of the main body of the finished report and the Turnitin summary statistics A Contents page – setting out the structure of the report by producing appropriate headings and subheadings which reflect the different sections. Page numbers.
Specific guidance on report structure, quality and referencing standards is as per OSCOLA (Oxford Standard for Legal). You are encouraged to use this as your first point of call when sourcing information, or seeking guidance for a specific aspect of constructing your coursework.
Your report should apply theory, models, frameworks, and issues which should be drawn from the whole of the module. It should also include your own research from relevant sources. Your submission will be marked according to the assignment tasks noted below with 10% of marks reserved for presentation, communication clarity, style, use of English and responding to assignment instructions.
Please ensure that:
All material that has been identified as originally from previously published sources has been properly attributed by the inclusion of an appropriate reference in the text.
Direct quotations are marked as such (using “quotation marks” at the beginning and end of the selected text), and
Your work should be supported with examples from relevant current journal articles and texts.
The submission must include responses to all of the items set out in the Assignment Tasks below. The assignment section headings in bold identify the learning outcomes being tested. Your response is to be specifically to the question that follows it and not to the learning outcome in general.
COURSEWORK
Assignment
1. The role of the various organisations involved in the oil & gas industry (30%)
You are an advisor to a West African nation where substantial quantities of oil have been discovered in a remote, environmentally sensitive onshore area. Once production commences this will be the first ever oil production in the country. Several oil companies, turnkey contractors and major equipment vendors have expressed individual interest in developing the find. The Government is uncertain how best to control these interests and is looking to you for advice.
If the Government decides to appoint an Oil Major as the Project Manager for an EPIC contract then what are your recommendations for :-
a) The key features of contractual arrangements – between the oil company (as the customer), the primary contractors, sub-contractors and vendors. (15%)
b) The performance measurements and controls that the Government should require to be in place in the licence terms with the oil company to meet the Government‟s development objectives of rapid development, local content and environmental protection (15%)
2. Petroleum economics and taxation regimes, legal arrangements and contractual relationships (40%)
a) What are the key considerations for a host country when negotiating – and then managing a – PSA contract with an oil major to maximise the country‟s revenues throughout a project‟s life. What would be the risks that the host country might see to the countries revenues (30%)
b) Use the spreadsheet provided to assess the relative significance to the country‟s revenue of variations in the rate of production, the level of capital spend and the rates of operating cost throughout the fields life (10%)
3. Review the risks faced by the industry and means of identifying and managing them. (10%)
Review how the management of technical risk may change during the design, construction and operation periods of an offshore platforms life (10%)
4. Awareness of future oil and gas sources, climate change and social responsibility (10%)
How might a developing country with new large oil and gas discoveries best avoid the „curse of oil‟ and ensure that the exploitation of the natural resources enhance the quality of life of the population as a whole?
