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 […]
This paper was presented at the OPEC International Seminar, Vienna on 17th September 2004, by Adrian Lajous, Chairman of the Oxford Institute for Energy Studies.
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