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Tag Archives: oil drilling
Contracts for Petroleum Development – Part 3
The flows of oil revenues are quite complex. This note presents the results of two hypothetical simulations — one a progressive production sharing regime and the other regressive – to illustrate qualitatively how they affect the amount and timing of government revenue and investors’ profits. Briefing Notes 7 and 8 [1,2] gave an overview of … Continue reading
Contracts for Petroleum Development – Part 2
Petroleum contracts are long and complex. Production sharing agreements, the type of contracts being signed in Cambodia, are no exception. However, they are important to the country’s future economic and development options and hence it would be helpful if the public had a basic understanding of how these contracts work and, in particular, how government … Continue reading
Country Experience with EITI – Part 2
TA dedicated website, appointment of a former Minister of Finance as the overall coordinator, a petroleum law requiring revenue disclosure, and a decree establishing a multi-stakeholder committee are some of the ways that the countries that have endorsed the Extractive Industries Transparency Initiative (EITI) principles are implementing EITI. This briefing note, the second in a … Continue reading
Country Experience with EITI – Part 1
Twenty-seven countries are at various stages of implementing the Extractive Industries Transparency Initiative (EITI). One of the earliest implementers, Nigeria, estimates that EITI helped increase petroleum revenues to the government by US$ 1 billion in 2004 and 2005. This note reviews the EITI implementation and related experience of some countries, focusing primarily on actions taken … Continue reading
Avoiding the Resource Curse
Many resource-rich countries have fallen prey to the natural resource curse [1]. But a handful of developing countries have managed to escape it. This note examines four resource-rich countries and the policies they have followed since the beginning of the 1970s. One, Nigeria, is a well-publicized case of oil wealth impoverishing rather than enriching the … Continue reading
Oil Resource Holds Hope for Cambodia’s Future Wealth
The impending development of off shore oil fields discovered in Cambodia’s territorial waters, and continuing onshore exploration, may herald big changes to the country’s economy. A joint ADB and World Bank Oil and Gas Mission visited Cambodia recently. During their visit the World Bank Newsletter had the opportunity to interview Ms Masami Kojima, Lead Energy … Continue reading
