Risk service contract

In a risk service contract, the [international oil company (IOC)] is responsible for the capital expenditure and management of exploration and development and all exploration is undertaken at the IOC’s own risk, which means that, unless hydrocarbons are found in sufficient quantities, the IOC will not be compensated. If oil can be produced in commercial quantities, the capital expenditure and operating costs incurred are treated as a loan by the IOC to the state, which may be recovered (plus interests) from the state …

– Geoffrey Picton-Turbervill (ed), Oil and gas: a practical handbook (Globe Law and Business, 2009), p38.

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ผู้เขียน: Chacrit Sitdhiwej | ชาคริต สิทธิเวช

ผมเป็นอาจารย์ประจำคณะนิติศาสตร์ มหาวิทยาลัยธรรมศาสตร์ ผมสนใจกฎหมายทรัพยากรธรรมชาติและสิ่งแวดล้อม กฎหมายพลังงาน กฎหมายปกครองและการร่างกฎหมาย I am law lecturer at Thammasat Law School, Bangkok, Thailand. My research interests include natural resources and environmental law, energy law, administrative law and law drafting.