An evaluation of contractual clauses used to mitigate risks in long term oil and gas agreements

Taiwo, Tolulope Olufisayo (2020). An evaluation of contractual clauses used to mitigate risks in long term oil and gas agreements. University of Birmingham. Ph.D.

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Abstract

Long term contracting features prominently in the increasingly volatile and uncertain oil and gas industry. The extensive duration of oil and gas agreements makes them vulnerable to an array of risks. These risks are generally mitigated through contractual clauses. Despite the widespread use of these clauses, it is argued that the literature fails to engage in a holistic examination of some of these contractual clauses. This thesis examines the legal and functional effectiveness of six selected clauses. It examines whether each of the selected clauses is fit for purpose and the challenges to its effectiveness. It offers recommendations on how its effectiveness may be enhanced.

This research is the first piece of work that examines the legal and practical effectiveness of commonly used risk mitigation clauses throughout the lifecycle of long term oil and gas agreements. It makes a contribution to knowledge by distinguishing the differences and overlaps in the different types of clause, so as to sharpen analysis of their precise functions and the challenges that may defeat their operation.

In assessing effectiveness, the thesis focuses on the approach in English law, although it also considers the position in some other jurisdictions.

Type of Work:

Thesis (Doctorates > Ph.D.)

Award Type:

Doctorates > Ph.D.

Supervisor(s):