340 pages
Authors: Dr. Zeyad A. Alqurashi

The exploration and development of oil and gas in developing countries have often been conducted by international oil companies rather than the countries themselves. International petroleum companies and host governments and/or governmental agencies conclude agreements for this purpose. Such agreements have over time retained certain fundamental characteristics. They involve large, complex and risky investments. They involve a relationship between a host government and/or governmental agency and a foreign private company. In addition, due to the strategic importance of petroleum to both consumers and producers, such agreements have always been politically charged. These characteristics help to understand why international petroleum agreements have almost always provided for arbitration as a method for the settlement of disputes.