It will be of value to newcomers to the upstream who want an introduction to the subject and will also be of interest to more experienced practitioners.
“Reading this book makes buying a Mars bar quite a different
experience....”
Andrew Wright, Managing Director, Noble Energy United Kingdom
"Lucid and extremely practical guide to contracts”
"I highly recommend this book, not only to people in (or going into) business, but also to anyone who makes deals on a regular basis. It may well change the way you approach constructing a fair and viable transaction”.
“Fundamentals of Upstream Petroleum Agreements” (Paperback)
by CP Thorpe
ISBN 978-0-9561127-0-5
Chris Thorpe’s latest book is essential reading for those in the international oil and gas industry who are involved in negotiating or implementing Upstream Petroleum Agreements. The book gives the reader an overview of upstream agreements, focusing on the technical and commercial realities and using real deals done by real people, as examples.
Chris shares his 25 years experience as a leading lawyer in the oil and gas industry to introduce the most common and important upstream agreements, looking at the various types of grants of rights, joint venture agreements, supply and construction contracts, and agreements for the transportation and sale of production. Never before has a book been published for the international oil and gas sector by a practitioner covering the fundamentals of upstream agreements.
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COMMERCIAL CONTRACTS - A Practical guide to Deals, Contracts, Agreements and Promises
ISBN-13: 9781855732506
I bought this book as I am starting up in business on my own. So I can't comment on the technical accuracy of the book, only how it has helped me. The most striking thing about the book is the incredibly clear way legal contract principles are explained, and how they have practical significance. For example, the requirement that each party in a contract must make some commitment in it means that an agreement to write off debt in return for an immediate part payment may be invalid (as his previous obligation to pay the full amount cannot be counted as a commitment in the new agreement). The fact that all contracts are formed as the acceptance of on offer means that contracts may be formed before anything is signed, if one party has already agreed to all the terms.
The authors constantly emphasize the personal and political nature of contracts, such how market strength affects the terms companies can impose on those they deal with. (For example, liability, indemnity, demands of performance.) There are also many points where the authors stress the importance of the personal nature of doing business, and how litigation should be a last resort (something that can be taken as a sign of honesty, given their vested interest in legal proceedings).
A wide range of issues and applicable laws are discussed, with references to things due to change shortly after publication. These are supported with historical background, and insightful case studies, many of which came from deceptively simple situations. There are a lot of consumer-related issues too, which are of benefit even outside of business deals.
Depending on your opinion of law, you may think this is a dry topic (I happen to enjoy it from a logical problem-solving perspective, although I wouldn't fancy it as a career). But the balanced structure of the book, clarity of the writing and practical nature of the contents make it an easy read. The authors also have a subtle but extremely wry sense of humour, which lightens the tone.