Indian Oil & Gas companies have gone international by picking oil equity in Vietnam, Russia, Sudan, Myanmar, Iraq, Libya, Syria, Yemen, among others, leading to a demand of specialised legal professionals adept in handling international agreements in the Energy space. Operations in Romania, Venezuela, Russia, Kazakhstan, UK, etc. are on the anvil. They have also kick-started international marketing operations in Sri Lanka and Mauritius. Professional experts would be required to draft specific marketing arrangements and to ensure compliance for the period of contract.
Under the New Exploration Licensing Policy (NELP) launched in 1999, private and foreign companies along with the NOCs committed about US$ 5 billion for exploration in more than 100 Production Sharing Contracts (PSCs). The periodic rounds of award of upstream blocks are continuing and the exploration investments are projected to rise considerably. The complete process including bidding, drafting of the contracts, etc. would require legal expertise in the Oil & Gas domain.
There is immense opportunity for such dually specialised professionals in the following types of companies:
- Indian & Foreign legal firms
- Legal cells of Private & Public sector Energy companies
- Legal departments of Foreign Energy companies
- Global Audit & Compliance firms
- Tertiary Sector (Insurance, Information Technology, Banking, Business Advisory & Consulting)
- Associated Industries – Petrochemical, Paints & Dyes
- Overseas (Middle East, SEA, China, Russia, CIS Countries)
College of Engineering Studies
College of Legal Studies