Introduction
In an effort to provide clarity and boost comprehension of the listed column title in this series, last week’s column introduced my re-visit of Government Take under Production Sharing Agreements, PSAs, with a summary re-statement of the intellectual origins of PSAs in legal theory, behavioral economics, and institutional theory. Based on these fields of research and analysis, PSAs have been, from the time of their earliest introduction to the oil and gas sector, subjected to generic critical dissections, from economic, legal, and institutional perspectives.
Indeed I had advised readers five years ago that, among the most rigorous and perceptive of these evaluations are: 1) K. Bindemann, Production-Sharing Agreements: An Economic Analysis, (Oxford Institute for Energy Studies, October 1999); 2) T.A. Ogunleye, A Legal Analysis of Production Sharing Contract Arrangements in the Nigerian Petroleum Industry, (Journal of Energy Studies and Policy, 2015); and 3) Y. Omorogbe, Contractual Forms in the Oil Industry: The Nigerian Experience with Production Sharing Contracts, 1986.