The Adaptation of Rural Residents to the Offshore Oil and Gas (Exploration Phase) Labour Force, Newfoundland and Labrador, 1981

1983 ◽  
Vol 2 (S1) ◽  
pp. 133-139
Author(s):  
Richard Fuchs

In response to interest and concerns about the effect which oil industry development would have in the province of Newfoundland, a number of studies were initiated, including attempts to assess the impacts on rural residents. An analysis of the offshore labour force indicated that Newfoundland residents represented 60% of the offshore force; however, their participation was predominantly in the junior drilling, junior marine and junior service positions. The provincial workers differed from the non-resident workers on a number of factors. Also of interest, the 35% of the Newfoundland workers interviewed had come from water transport occupations and were attracted by the perceived advantages of work in the oil industry, while the 34% who had come from the fishing industry, cited financial insecurity and poor working conditions of the fishery as their reasons for changing jobs.

1973 ◽  
Vol 11 (3) ◽  
pp. 480
Author(s):  
J. M. Killey

As onshore oil and gas deposits are becoming more difficult to locate, and as the world demands for energy continue to increase at an alarming rate, oil companies are channeling much of their exploration activities towards offshore operations, and in particular, towards operations centered off Canada's coast lines. Because of the environment, offshore drilling presents problems which are novel to the onshore-geared oil industry. J. M. Killey discusses in detail many of the considerations involved in drafting the offshore drilling contract, concentrating on problems such as the liability of the various parties; costs; scheduling; pollution; conflict of laws; etc. Similarly, he discusses service contracts (such as supply boat charters; towing services; helicopter services; etc.^ which are necessity to the operation of an offshore drilling rig. To complement his paper, the author has included number of appendices which list the various considerations lawyer must keep in mind when drafting contracts for offshore operations.


2018 ◽  
Vol 7 (1) ◽  
pp. 32
Author(s):  
Ghasem Nikjou ◽  
Hamed Najafi ◽  
Kamran Salmani

Nowadays energy has an important role as a driving sector of economy. Forecasting 150 billion dollars investment in energy sector during the fifth development program in Iran, the banking and financial system require a dynamic and modern economy and financial instruments. Obviously, this approach needs to remove legal barriers and modification of contracts. Financing in the oil industry has faced with serious challenges in recent years. In addition, investing in common offshore oil and gas resources is indispensable. Accordingly we are going to design a new contract which is called Oil SPFO (Standard Parallel Forward security with two Options under betting condition), in order to raise funds needed. In this article we would investigate the SPFO for Iran Ministry of Petroleum (MOP)’s finance and present a model for pricing the oil SPFO based on Black and Scholes option pricing model. Finally, we have some recommendations to develop the oil SPFO and suggest that other researchers work on pricing the oil parallel forward securities according to this model.


1989 ◽  
Vol 29 (1) ◽  
pp. 84
Author(s):  
R.P. Warren

A proposal to undertake exploration in the coastal waters adjacent to Sydney/Newcastle/Wollongong has brought strong protests on environmental grounds. This opposition is committed and the basis for it should be considered in the wider context of offshore exploration around Australia. Of the various activities involved in oil and gas exploration the potential impacts of marine seismic surveys and the likelihood of a blowout- related oil spill are those of greatest concern to the media and public.A review of the available literature shows the environmental effects of seismic surveys to be of little consequence provided non- explosive energy sources are used. The effects of an oil spill are heavily dependent on site conditions and the type of oil spilled.The literature shows that direct exposure to spilled oil is fatal to many marine species. However, the potential lethal effects are largely dependent on direct exposure and this declines with the weathering and degradation of the spill. Moreover, the risks of an oil spill occurring as a result of current transportation and handling of oil in coastal waters and points around Australia are much greater than would be presented by drilling an exploratory well.In considering the role of exploration as an assessment procedure rather than a land use it is possible to draw parallels between the conservation status of Australian coastal waters today and the onshore situation some 20 years ago. The offshore oil and gas exploration industry needs to take several measures if it is to avoid denial of access for exploration. These include clearly identifying the environmental effects of exploration as opposed to production, adopting industry- wide codes for environmental practice, and recording and disseminating the industry's environmental performance.


Sign in / Sign up

Export Citation Format

Share Document