| Abstract: | The exploration of offshore areas for hydrocarbons has involved new technical and economic considerations and has posed new problems, not the least of which has been the changing relationship between companies and governments. In this article, the authors present an analysis of the different perspectives and policies which emanate from national governments on the one hand and from transnational oil companies on the other. The issues examined include the considerations involved in establishing exploration legislation, post-discovery problems, the impact on revenues of increased production, the interests of companies in developing fields and the overall economic environment within which decisions have to be agreed. |
