THE OIL INDUSTRY CHAIN AND ITS LEGAL ASPECTS

The petroleum industry is a highly complex structure by its very nature requiring specialized and seasoned skills in a variety of fields for its implementation. This field calls on a wide range of technical expertise with geologists (with several specialties) and geophysicists at the forefront. It also involves economists whose role is to calculate the profitability of the project both upstream and downstream. In other words economists estimate in advance the profit that will be generated once the oilfields are in production. This is known as profitability analysis. The profit generated is called the return on investment and this economic calculation is used to assess the marketability of an oil discovery to determine whether or not it is a positive one.