Molotnikov A.E., Heli J., Chinenova A.A. Main Features of Model Contracts Used in Oil and Gas Exploration and Production Projects

Abstract: This article describes a typical service contracts and construction contracts for the implementation of projects for exploration and production of oil and gas on the Norwegian shelf. Since offshore fields are located in the sea, the ongoing projects are associated with high financial and technological risks. This paper analyzes the typical service contracts and construction contracts. Exploration and production of oil and gas fields in the North Sea was associated with a variety of technical and operational risks caused by the harsh climate and deep waters. The authors concluded that for the proper implementation of projects the performance of large amount of engineering works is required. In this regard, there is a need to develop a modernized system of submitting orders to make changes to the project work under the contract, and the system of allocation of risks between the parties.

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