Current Issues on Assignment and Novation in the Oil and Gas Industry

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Abstract

The research focuses on Current Issues on Assignment and Novation in the Oil and Gas Industry. The study relate to a number of factors including the use of gas, and the importance of their prediction. Another way to predict future natural gas prices is through the use of a historical relationship between crude oil price and natural gas price (Mawdsley, Mikhareva & Tennison, 2005, p. 51). That relationship has been expressed as a ratio between GBP per barrel of light sweet crude oil and GBP per giga-Joule of natural gas. It is necessary to understand the author of commercial drivers and technical support for each measure individually and reflect the requirements of local jurisdiction. As local conditions can vary widely state to state, and local expertise must be involved in order to avoid costly forms are to some extent, the class of their own tailor-made as they services are situations in order to ship.

The United Nations Convention on the Law of the Sea 1989 (known universally among lawyers as UNCLOS) promulgated a more refined standard. It says "Any installations which are abandoned or disused shall be removed to ensure safety of navigation, taking into account any generally accepted international standards established in this regard by the competent international organization.... Appropriate publicity shall be given to the depth, position and dimensions of any installation or structures not entirely removed." Although the opening sentence sets a general standard of "removal", there is a clear recognition in the wording of the second sentence that not all installations will have to be removed in their entirety. Admiralty-centric eyes also discount Macondo's striking novelty.

The fact is that the courts have not had occasion to construe either OCSLA '78 or OCSLA 90 as sources of liability for the economic losses resulting from Macondo's unique setting. In consequence, issues as fundamental as the blowout's status as an admiralty tort cannot be predicted with the assurance or, at least, guidance that would have been available had the issues been the subject of prior judicial scrutiny. This paper advances a legal framework for the governance of Macondo's economic losses from a perspective that properly credits OCSLA's status both as a non-admiralty federal public lands and environmental measure, ...