The specifics of contractual relations in the oil and gas complex
The key aspects of contractual relations in the oil and gas complex, which plays a crucial role in Russian economy, have been analyzed. The specifics of contractual relations in the oil and gas complex have been considered, due to the high level of capital intensity, long duration of project impleme...
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| Main Authors: | , |
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| Format: | Article |
| Language: | English |
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Publishing House of the State University of Management
2025-06-01
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| Series: | Вестник университета |
| Subjects: | |
| Online Access: | https://vestnik.guu.ru/jour/article/view/6143 |
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| _version_ | 1839646628974166016 |
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| author | O. V. Baykova M. R. Tolstov |
| author_facet | O. V. Baykova M. R. Tolstov |
| author_sort | O. V. Baykova |
| collection | DOAJ |
| description | The key aspects of contractual relations in the oil and gas complex, which plays a crucial role in Russian economy, have been analyzed. The specifics of contractual relations in the oil and gas complex have been considered, due to the high level of capital intensity, long duration of project implementation, and a significant degree of government regulation. Special attention has been paid to the contracts classification (from contracts for exploration and production to agreements for transportation, infrastructure construction, and purchase and sale of oil and gas). Legal aspects of regulating contractual relations in the oil and gas sector, including state licensing, international law influence, as well as environmental and antitrust restrictions, have been examined. No less important issue related to the risk distribution mechanisms and parties’ responsibility, including the main risks in contractual relations and contract enforcement mechanisms, has been touched upon. The main types of risks have been given, including geological, technical, financial, economic, legal, and political, and practical recommendations for their minimization have been offered. Multistage dispute resolution mechanisms, including pre-trial regulation, mediation, and arbitration, which ensures stability and predictability of relations among market participants, have been studied. |
| format | Article |
| id | doaj-art-a541c4f16d114122beae7573b0c9766a |
| institution | Matheson Library |
| issn | 1816-4277 2686-8415 |
| language | English |
| publishDate | 2025-06-01 |
| publisher | Publishing House of the State University of Management |
| record_format | Article |
| series | Вестник университета |
| spelling | doaj-art-a541c4f16d114122beae7573b0c9766a2025-06-30T09:06:33ZengPublishing House of the State University of ManagementВестник университета1816-42772686-84152025-06-0104849310.26425/1816-4277-2025-4-84-933390The specifics of contractual relations in the oil and gas complexO. V. Baykova0M. R. Tolstov1State University of ManagementState University of ManagementThe key aspects of contractual relations in the oil and gas complex, which plays a crucial role in Russian economy, have been analyzed. The specifics of contractual relations in the oil and gas complex have been considered, due to the high level of capital intensity, long duration of project implementation, and a significant degree of government regulation. Special attention has been paid to the contracts classification (from contracts for exploration and production to agreements for transportation, infrastructure construction, and purchase and sale of oil and gas). Legal aspects of regulating contractual relations in the oil and gas sector, including state licensing, international law influence, as well as environmental and antitrust restrictions, have been examined. No less important issue related to the risk distribution mechanisms and parties’ responsibility, including the main risks in contractual relations and contract enforcement mechanisms, has been touched upon. The main types of risks have been given, including geological, technical, financial, economic, legal, and political, and practical recommendations for their minimization have been offered. Multistage dispute resolution mechanisms, including pre-trial regulation, mediation, and arbitration, which ensures stability and predictability of relations among market participants, have been studied.https://vestnik.guu.ru/jour/article/view/6143oil and gas complexcontractual relationshipsstate regulationnational legislationinternational legal normsrisksdispute resolution |
| spellingShingle | O. V. Baykova M. R. Tolstov The specifics of contractual relations in the oil and gas complex Вестник университета oil and gas complex contractual relationships state regulation national legislation international legal norms risks dispute resolution |
| title | The specifics of contractual relations in the oil and gas complex |
| title_full | The specifics of contractual relations in the oil and gas complex |
| title_fullStr | The specifics of contractual relations in the oil and gas complex |
| title_full_unstemmed | The specifics of contractual relations in the oil and gas complex |
| title_short | The specifics of contractual relations in the oil and gas complex |
| title_sort | specifics of contractual relations in the oil and gas complex |
| topic | oil and gas complex contractual relationships state regulation national legislation international legal norms risks dispute resolution |
| url | https://vestnik.guu.ru/jour/article/view/6143 |
| work_keys_str_mv | AT ovbaykova thespecificsofcontractualrelationsintheoilandgascomplex AT mrtolstov thespecificsofcontractualrelationsintheoilandgascomplex AT ovbaykova specificsofcontractualrelationsintheoilandgascomplex AT mrtolstov specificsofcontractualrelationsintheoilandgascomplex |