Winner — Mondaq Thought Leadership Award (2024, 2025 & 2026)
Production Sharing Contracts (PSCs) Practice
Cost Oil & Profit Oil Calculations, Joint Operating Agreements (JOAs), Stabilization Clauses & Petroleum Arbitration
A Production Sharing Contract (PSC) is an agreement where an energy company carries exploration risks and costs in exchange for a share of oil production. At Nomos Legal Practice, our petroleum transaction attorneys assist host governments, national oil companies, and international oil companies (IOCs) in structuring PSCs under the Petroleum Industry Act (PIA). We negotiate Cost Oil caps, Profit Oil splits, Joint Operating Agreements (JOAs), and stabilization clauses.
Deal Structuring, Cost Oil & Profit Sharing
Defining cost recovery limits, calculating Cost Oil allocations, and negotiating Profit Oil percentage splits between contractors and national authorities
Joint Operating Agreements (JOAs) & Cost Audits
rafting JOA frameworks to govern partner operations, establishing accounting procedures, and managing cost-control audits to verify expenses.
Stabilization Clauses & International Dispute Resolution
Drafting economic balancing clauses to shield investors from adverse legislative shifts, while representing clients in international petroleum arbitration.
Structuring A Production Sharing Contract Or Calculating Cost Recovery Oil?
Consult with our upstream petroleum legal practitioners at Tafawa Balewa Square (TBS), Lagos Island