The financial concept of real options has important consequences in areas of environmental and natural resources law where irreversible decisions are made in the face of uncertainty. This article argues that consideration of real options is necessary to maximize economic return from...

This contribution provides a composite overview of the continental shelf boundaries in the North Sea and the Atlantic Ocean from a historical perspective, dating back to the early days of the North Sea oil and gas industry, before considering live issues such as those surrounding the remote...

Normally, a coastal State has sovereign rights to explore and exploit the natural resources of the continental shelf appurtenant to its territory. In some situations, however, States have overlapping claims as to their continental shelves, which raises important issues as to how such States must...

This study employs financial simulation modelling, including use of the Monte Carlo technique, to project oil and gas activity levels in the UK Continental Shelf to 2050 with an oil price scenario gradually rising from 2019 onwards to reach $100 per barrel in real terms in 2050. The Monte Carlo...

The continental shelf was the first maritime zone to be proclaimed by Australia, in 1953. This chapter explores the development of the doctrine of the continental shelf in the law of the sea, the physical characteristics of Australia’s continental shelf, and Australia’s submission of its...

The Employment Relations Act 1999 (ERA) has provided trade unions in the UK with new opportunities for achieving recognition. After a long history of anti-unionism in the offshore oil and gas industry, employers have voluntarily ceded recognition to Trades Union Congress (TUC)-affiliated trade...

What are some of the possible futures for Barents Sea oil and gas? This chapter draws upon the key trends and issues covered by the book's thematic chapters and presents three scenarios on the prospects for Norwegian–Russian cooperation in the Barents Sea. Ultimately human interaction will...