"I realise that some of my criticisms may be mistaken; but to refuse to criticize judgements for fear of being mistaken is to abandon criticism altogether... If any of my criticisms are found to be correct, the cause is served; and if any are found to be incorrect the very process of finding out my mistakes must lead to the discovery of the right reasons, or better reasons than I have been able to give, and the cause is served just as well." -Mr. HM Seervai, Preface to the 1st ed., Constitutional Law of India.

Sunday, July 20, 2014

PSC Awards: Selan Exploration v MoPNG

We bring to readers certain arbitral awards which have been rendered under the Production Sharing Contracts between the Ministry of Petroleum and Natural Gas and the Contractor(s). The purpose of doing so is to bring these awards to the public domain as it throw light on how Production Sharing Contracts are interpreted. It is expected that these awards would be useful to litigants as well as academicians.

The first of this series is the award pursuant to arbitration between Selan Exploration v. Ministry of Petroleum and Natural Gas. The dispute pertained to share of profit petroleum between the Contractor and the Government. The case also deals with the calculation of the Investment Multiple which forms an integral part of the Production Sharing Contract. The award can be accessed from here.

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