Analysis on risks and countermeasures of abandonment and decommissioning of oil and gas product-sharing projects in less developed countries
Most of the overseas oil and gas projects of the three major Chinese oil companies are located in less developed countries and regions and covered by product sharing contracts(PSC).Laws,regulations,and contract terms for project abandonment and decommissioning in less developed countries are often too general to be instructive.Under the PSC model,there is uncertainty about the scope of abandonment and decommissioning business to be undertaken by oil companies,which would cause enormous financial pressure and the risk of non-recovery of abandonment and decommissioning fees in the middle and late stages of the contract.In order to cope with the uncertainties and risks,it is recommended that Chinese oil companies establish a business management system of abandonment and decommissioning to clarify the standards and norms for abandonment and decommissioning in resource countries,strengthen the management of preparation of abandonment and decommissioning programs and plans to improve the feasibility of the programs and the accuracy of the cost estimation.Establish a mechanism for preferential selection of abandonment and decommissioning guarantee and abandonment and decommissioning fund,optimize the starting point of the deposit of the fund and the calculation of the annual amount of deposit to reduce the risk of non-recovery and improve the profitability of the oil company;and optimize the calculation of the starting point of the annual deposit and the amount of non-recovery of abandonment and decommissioning fee,and strengthen the analysis and research of contract texts as well as revise and improve contract terms in due course to safeguard the legitimate rights and interests of oil companies.
risk analysisabandonment and decommissioning of oil and gas fieldsabandonment costsabandonment and decommissioning fundsproduction sharing contractscost recovery
国家科技期刊平台
NSTL
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