Key Findings of the CMS oil & gas disputes survey - CMS UK
The three geographic locations identified as highest risk in terms of the prospects of a dispute arising were: Africa (28% of respondents, and 60% of those who operate in that region); the United Kingdom Continental Shelf (UKCS) (37% of all respondents, and 50% of those who operate in the UKCS); and Latin America (17% of total respondents and 40% of those who operate in the region).
Nearly half of all participants see the greatest risk of disputes arising from Projects and Joint Ventures. However, Projects, Supply Chain, Joint Ventures and relationships with Host States and Regulators are all identified as activities where a high risk of disputes arises.
Protestor, shareholder or investor activism was identified by nearly 50% of respondents as a real risk to their company or company group – that would include activities by those focused on climate change issues but also broader corporate governance issues and special interest groups seeking to influence a company’s ‘direction of travel’.
With regard to disputes arising with co-venturers, more than a quarter of respondents believe that better managing relationships with co-venturers is key to minimising the risk of disputes in that context.
Oil and Gas Disputes Survey: Managing disputes risk – the in-house perspective
- Key Findings of the CMS oil & gas disputes survey
- Geography: Complex environments deliver financial rewards but higher risks
- Where do the disputes come from?
- Interview with Johanna Coelho, Legal Manager, PetroRio
- Operational problems: activities and relationships that can lead to disputes
- Elevated risks: newer dangers for oil and gas players
- Interview with Duncan Holland, Head of Legal, Cairn Energy
- Risk mitigation: limiting the fallout
- Interview with Sandra Redding, General Counsel, Seadrill
- Riding out the storm
