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International Petroleum Transactions (LAWS70161)
Graduate coursework level 7Points: 12.5Not available in 2024
Overview
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This subject considers the legal issues and structure of transactions relating to the exploration, production, and marketing of petroleum that, owing to its economic and strategic importance, is the most important commodity traded worldwide, but this subject also addresses the affect that exploitation and consumption of petroleum resources has on the climate. This subject will give students a detailed understanding of how crude oil and gas are exploited worldwide. It will cover how countries establish sovereignty over petroleum resources and how host governments or their national (state-owned) oil companies contract with private companies to explore and develop oil and gas resources. This subject also reviews and analyses key risk-allocation contracts among petroleum companies, and contracts between petroleum companies and petroleum-services contractors that facilitate petroleum operations. As petroleum is one of the most politically charged commodities, this subject will consider extra-territorial anti-corruption law and political risk. This subject will address to extent to which carbon capture, utilisation, and storage can address the problem of emissions that are accelerating climate change. In a broader sense, this subject will help students develop better analytical skills—especially the ability to critically evaluate policy choices and contracts.
Principal topics include:
- Sovereignty over natural resources and extra-territorial legal issues
- Host government contracts covering exploration and exploitation of petroleum and carbon capture, utilization, and sequestration
- Host government policies to manage or avoid the resource curse
- Government policies and programs to ameliorate climate change
- Risk-allocation and services contracts amongst co-investors and between operators and services contractors
- Managing and contracting to avoid corruption risk
Intended learning outcomes
A student who has successfully completed this subject will be able to:
- evaluate the legal and regulatory framework governing international petroleum transactions and apply this understanding to assess the legal risks and challenges associated with petroleum investment,
- examine, analyse, and interpret effective strategies for negotiating and drafting petroleum-related contracts—taking into account the associated important legal and commercial provisions and principles, including recent developments in carbon capture, utilisation and storage,
- assess the role of different stakeholders in international petroleum transactions, including host governments, investors, operators,providers of petroleum services, international and non-governmental organisations, and the public,
- analyse the ethical and social responsibility implications of international petroleum transactions, including their impact on the vexing problem of providing secure, reliable, affordable, and sustainable energy supply,
- apply legal and analytical skills to address complex extra-territorial legal issues which can adversely affect the legality and success of an investment, such as boundary disputes, anti-bribery law, and dispute resolution,
- conduct independent research and analysis on emerging legal and regulatory issues in international petroleum transactions, and present findings in a clear and persuasive manner.
Last updated: 31 January 2024
Eligibility and requirements
Prerequisites
Students must meet one of the following prerequisite options:
Option 1
Admission into a relevant Melbourne Law Masters program
Option 2
Admission into the MC-JURISD Juris Doctor
AND
Code | Name | Teaching period | Credit Points |
---|---|---|---|
LAWS50029 | Contracts | Semester 2 (On Campus - Parkville) |
12.5 |
Corequisites
None
Non-allowed subjects
None
Recommended background knowledge
Applicants without legal qualifications should note that subjects are offered in the discipline of law at an advanced graduate level. While every effort will be made to meet the needs of students trained in other fields, concessions will not be made in the general level of instruction or assessment. Most subjects assume the knowledge usually acquired in a degree in law (LLB, JD or equivalent). Applicants should note that admission to some subjects in the Melbourne Law Masters will be dependent upon the individual applicant’s educational background and professional experience.
Inherent requirements (core participation requirements)
The University of Melbourne is committed to providing students with reasonable adjustments to assessment and participation under the Disability Standards for Education (2005), and the Assessment and Results Policy (MPF1326). Students are expected to meet the core participation requirements for their course. These can be viewed under Entry and Participation Requirements for the course outlines in the Handbook.
Further details on how to seek academic adjustments can be found on the Student Equity and Disability Support website: http://services.unimelb.edu.au/student-equity/home
Last updated: 31 January 2024
Assessment
Description | Timing | Percentage |
---|---|---|
Participation | Throughout the teaching period | 10% |
Research paper on a topic to be approved by the subject coordinator
| 17 January 2024 | 90% |
Hurdle requirement: A minimum of 75% attendance is required. | Throughout the teaching period | N/A |
Last updated: 31 January 2024
Quotas apply to this subject
Dates & times
Not available in 2024
What do these dates mean
Visit this webpage to find out about these key dates, including how they impact on:
- Your tuition fees, academic transcript and statements.
- And for Commonwealth Supported students, your:
- Student Learning Entitlement. This applies to all students enrolled in a Commonwealth Supported Place (CSP).
Subjects withdrawn after the census date (including up to the ‘last day to withdraw without fail’) count toward the Student Learning Entitlement.
Additional delivery details
This subject has a quota of 30 students.
Enrolment is on a 'first in' basis. Waitlists are maintained for subjects that are fully subscribed.
Students should note priority of waitlisted places in subjects will be given as follows:
- To currently enrolled Graduate Diploma and Masters students with a satisfactory record in their degree
- To other students enrolling on a single subject basis, eg Community Access Program (CAP) students, cross-institutional study and cross-faculty study.
Please refer to the Melbourne Law Masters website for further information about the management of subject quotas and waitlists.
Melbourne Law School may reserve places in a subject for incoming international cohorts or where a subject is core to a specialisation with limited alternate options.
Last updated: 31 January 2024
Further information
- Texts
Prescribed texts
Specialist materials will be made available via the LMS in the pre-teaching period.
- Related Handbook entries
This subject contributes to the following:
- Links to additional information
- Available through the Community Access Program
About the Community Access Program (CAP)
This subject is available through the Community Access Program (also called Single Subject Studies) which allows you to enrol in single subjects offered by the University of Melbourne, without the commitment required to complete a whole degree.
Entry requirements including prerequisites may apply. Please refer to the CAP applications page for further information.
Additional information for this subject
If required, please contact law-masters@unimelb.edu.au for subject coordinator approval.
- Available to Study Abroad and/or Study Exchange Students
This subject is available to students studying at the University from eligible overseas institutions on exchange and study abroad. Students are required to satisfy any listed requirements, such as pre- and co-requisites, for enrolment in the subject.
Last updated: 31 January 2024