Settlement of Oil and Gas Disputes: Domestic and International Perspectives
SETTLEMENT OF OIL AND GAS DISPUTES: DOMESTIC AND INTERNATIONAL PERSPECTIVES
PAPER DELIVERED BY:
OLABISI O. SOYEBO, SAN, MCIArb.
AT
THE MINISTRY OF JUSTICE MAITAMA, ABUJA
29th NOVEMEBER, 2011.
SETTLEMENT OF OIL AND GAS DISPUTES: DOMESTIC AND INTERNATIONAL PERSPECTIVES BEING A PAPER DELIVERED BY OLABISI O. SOYEBO. SAN. MCIArb., AT THE MINISTRY OF JUSTICE MAITAMA ABUJA ON 29TH NOVEMEBER, 2011.
INTRODUCTION
Oil and gas are considered among the world's most important resources and the oil and gas industry plays a critical role in driving the global economy. They are used for numerous products, in addition to serving as the world's primary fuel source. The processes and systems involved in producing and distributing oil and gas are highly complex, capital-intensive and require state-of-the-art technology. Though efforts are being made to develop alternative sources of energy the world over, Oil and Gas will no doubt remain the largest fuel in the international energy market for some time and demand for the resources will continually create transactions and the attendant disputes. We all know that big business means big problems!
The focus of this paper is to highlight the types of disputes which arise in the Oil and Gas industry, the type of Dispute Settlement/Resolution mechanisms available for resolving such disputes, issues of jurisdiction vis a vis private international law, consideration of the enabling instruments and laws and a practice guide to commencing/defending oil and gas related suits and finally a consideration of the Petroleum Industry Bill.
1. TYPES OF DISPUTES IN THE OIL AND GAS INDUSTRY.
Disputes in the oil and gas sector the world over can span a range of subject matter, involving diverse parties. Some of these areas of disputes are outlined as follows: | * International and Local Maritime Boundary Disputes:
With the increased demand for oil and gas and the uncertainty enshrouding oil prices in recent
PAPER DELIVERED BY:
OLABISI O. SOYEBO, SAN, MCIArb.
AT
THE MINISTRY OF JUSTICE MAITAMA, ABUJA
29th NOVEMEBER, 2011.
SETTLEMENT OF OIL AND GAS DISPUTES: DOMESTIC AND INTERNATIONAL PERSPECTIVES BEING A PAPER DELIVERED BY OLABISI O. SOYEBO. SAN. MCIArb., AT THE MINISTRY OF JUSTICE MAITAMA ABUJA ON 29TH NOVEMEBER, 2011.
INTRODUCTION
Oil and gas are considered among the world's most important resources and the oil and gas industry plays a critical role in driving the global economy. They are used for numerous products, in addition to serving as the world's primary fuel source. The processes and systems involved in producing and distributing oil and gas are highly complex, capital-intensive and require state-of-the-art technology. Though efforts are being made to develop alternative sources of energy the world over, Oil and Gas will no doubt remain the largest fuel in the international energy market for some time and demand for the resources will continually create transactions and the attendant disputes. We all know that big business means big problems!
The focus of this paper is to highlight the types of disputes which arise in the Oil and Gas industry, the type of Dispute Settlement/Resolution mechanisms available for resolving such disputes, issues of jurisdiction vis a vis private international law, consideration of the enabling instruments and laws and a practice guide to commencing/defending oil and gas related suits and finally a consideration of the Petroleum Industry Bill.
1. TYPES OF DISPUTES IN THE OIL AND GAS INDUSTRY.
Disputes in the oil and gas sector the world over can span a range of subject matter, involving diverse parties. Some of these areas of disputes are outlined as follows: | * International and Local Maritime Boundary Disputes:
With the increased demand for oil and gas and the uncertainty enshrouding oil prices in recent