HCOCAs AND SECURITY OF INVESTMENTS IN OIL AND GAS INDUSTRY

The Oil and Gas Industry has been facing some challenges with respect to host community expectations and needs particularly in emerging economies. The Industry also seems to grapple with issues such as the exact nature of its role towards meeting community expectations/needs and the strategy which may be adopted towards managing those needs and expectations. In some countries, the absence of consensus ad idem between the oil and gas industry operators and host communities have generated tensions which have, in many cases increased the risk portfolio of investments in the oil and gas industry. Using Nigeria's oil and gas sector as case study, this book examines Host Community/Oil Company Agreements as a tool available to the Industry to structure or restructure the Industry's community engagement policy for purposes of cultivating or enhancing strategic relationships and partnerships, community development as well as risk management for the International Oil Companies.