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Most Helpful Customer Reviews
12 of 14 people found the following review helpful:
4.0 out of 5 stars
An excellent practical tool.,
By Elena Warburton (Cumming, GA United States) - See all my reviews
This review is from: International Petroleum Fiscal Systems and Production Sharing Contracts (Hardcover)
This book is an excellent practical tool to gain understanding on how the Production Sharing Contracts/ Agreements of the international oil industry work and how the negotiations on PSA normally flow. Johnston does not concentrate on cultural aspects of a particular country, but rather on the mechanics of the PSA and its major issues. The topics that Johnston covers are "Petroleum Fiscal Systems," "Concessionary Systems," "Production Sharing Contracts," "Risk Service Contracts," "Threshold Field Size Analysis," "Global Market for Exploration Acreage," "Production Sharing Contract Outline" "Accounting Principles," and "Double Taxation." This introductory comprehensive overview of PSA concepts is written in a clear and understandable manner so that even a person without a background in accounting, taxation, and oil engineering is able to understand the author's explanations and conclusions. This source will be most helpful to consult if one is interested in learning or simply clarifying the concepts of exploration economics, oil taxation, contract/fiscal terms, and PSA negotiations in the international context.
1 of 1 people found the following review helpful:
5.0 out of 5 stars
Essential reading for anyone interested in the oil industry and resource economics,
By Terrapolitan (New York, USA) - See all my reviews
This review is from: International Petroleum Fiscal Systems and Production Sharing Contracts (Hardcover)
I first read this book in 1996 and consider it to be the most useful book I have ever read on the oil industry. If you want to understand the basics of resource economics, risk sharing and rent sharing (taxes vs profits), no book will serve you better.Don't be put off by the fact that the book was published in 1994 (and as far as I can tell, has not been updated since). This is a book about core principcles that works as well in a $100/bbl as a $10/bbl world.
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Inside This Book
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First Sentence:
The international petroleum industry involves tremendous wealth and power. Read the first page Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
profit oil split, tangible capital costs, threshold field size, domestic market obligation, cost recovery limit, exploration obligations, petroleum fiscal systems, risk service contract, concessionary system, expected value theory, contractor entitlement, petroleum taxation, specific economic benefit, signature bonus, abandonment costs, production sharing contracts, contractor share, foreign losses, equity split, older contracts, fiscal terms, exploration costs, production bonuses, commercial discovery, recovery limits Key Phrases - Capitalized Phrases (CAPs): (learn more)
United States, Gulf of Mexico, Papua New Guinea, Soviet Union, Annual Cum, Depreciation of Tangible Capital Costs, North Sea, Timor Gap, Contractor After-tax Net Cash Flow, Effective Contractor, Moderate Discovery New!
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Front Cover | Table of Contents | First Pages | Index | Back Cover | Surprise Me!
The international petroleum industry involves tremendous wealth and power. Read the first page Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
profit oil split, tangible capital costs, threshold field size, domestic market obligation, cost recovery limit, exploration obligations, petroleum fiscal systems, risk service contract, concessionary system, expected value theory, contractor entitlement, petroleum taxation, specific economic benefit, signature bonus, abandonment costs, production sharing contracts, contractor share, foreign losses, equity split, older contracts, fiscal terms, exploration costs, production bonuses, commercial discovery, recovery limits Key Phrases - Capitalized Phrases (CAPs): (learn more)
United States, Gulf of Mexico, Papua New Guinea, Soviet Union, Annual Cum, Depreciation of Tangible Capital Costs, North Sea, Timor Gap, Contractor After-tax Net Cash Flow, Effective Contractor, Moderate Discovery New!
Books on Related Topics | Concordance | Text Stats Browse Sample Pages:
Front Cover | Table of Contents | First Pages | Index | Back Cover | Surprise Me!
Citations (learn more)
This book cites 11
books:
See all 11 books this book cites
4
books
cite this book:
- Petroleum Company Operations and Agreements in the Developing Countries (RFF Press) by Professor Raymond F. Mikesell in Back Matter (1), and Back Matter (2)
- The Principles of Political Economy (Everyman's Library) by Ricardo in Back Matter (1), and Back Matter (2)
- Principles of Political Economy and Taxation (Great Minds) by David Ricardo in Back Matter (1), and Back Matter (2)
- The International Politics of Natural Resources by Zuhayr M. Mikdashi in Back Matter (1), and Back Matter (2)
- The Mining Industry and the Developing Countries (World Bank Research Publications) by Rex Bosson in Back Matter
See all 11 books this book cites
- International Oil Company Financial Management in Nontechical Language (Pennwell Nontechnical Series) by James Bush in Back Matter
- Natural Resources and Violent Conflict: Options and Actions by Ian Bannon on page 94
- The Indonesian Production sharing Contract - An Investor's Perspective by Tengku Machmud in Back Matter
- The Gulf Oil and Gas Sector: Potential and Constraints by The Emirates Center for Strategic Studies and Research in Back Matter
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