This paper suggests that an optimal local content policy in the context of flawed institutions is a more minimal one than those typically pursued by developing countries with recently discovered petroleum reserves. We argue that local content requirements need to be seen as a public expenditure...

Although oil and gas exploration has been going on in East Africa for decades, until recently exploration activities grew more slowly compared to other regions in Africa. Today, there has been a series of oil and gas discoveries in several East African countries, including Kenya, Madagascar,...

Cover -- Contents -- List of Figures -- List of Tables -- Foreword -- Preface -- Acknowledgments -- About the Contributors -- 1 Introduction -- Part I Turning Oil and Gas Wealth into Sustainable and Equitable Development -- 2 Managing the Extractive Resource -- 3 Revenue Management in the Oil...