GOM Leasing and Taxation
This presentation discusses the evolution and performance of the institutional framework underlying oil activities in the GOM region. It characterises the two systems that have defined the rules for offering and assigning GOM acreage: Tract Nomination (TN) from 1953 to 1982 inclusive,and Area Wide Leasing (AWL) from 1983 to the present. Finally, it discussesthe effects that AWL has had on the structure of the offshore oil industry.
Area-wide leasing , Competition , Government Revenues , Hydrocarbons , Industry Structure , Petroleum leasing , Petroleum Supply , Production , The Gulf of Mexico