Government Petroleum Policy • Petroleum Taxation • Licensing Advisory and Management

With few exceptions outside of the United States, and even then not so on federal and state lands, the management and ownership of petroleum resources is vested in the State (nation) and, ultimately, the people.

Petroleum resource management is concerned with ensuring the greatest value for that ownership.  While such a concept is straightforward, achieving the goal is anything but simple.  Capturing value reflects maintaining a competitive position in the global market.  There is no unique solution and every State’s contractual, regulatory and fiscal system must be sensitive to the forever changing dynamics of risk and reward.

The experience in Ulysses Petroleum Management brings with it many years of advising Sovereigns on exactly these issues.  That experience is matched with a similar level of experience in advising oil and gas companies, large and small, on transactions and negotiations.  Successful petroleum regimes are ones that are balanced, predicable, responsive and fair.  A contract that is “too good to be true” for one side is just that; it will not last and value is lost through delays and disputes while the situation is normalized.  Having this experience on both sides of the negotiating table is key to driving a successful outcome.

Specific experience in Sovereign Advisory includes

  • Structuring, drafting, promotion and offering of petroleum leases to the industry. Clients have included

    • PDVSA

    • ANP (Brazil)

    • Ecopetrol

    • KPC/KOC

    • Saudi Aramco

    • Pemex

    • Iraq’s Ministry of Oil (PCLD)

  • Design and drafting of petroleum law, exploration and production license agreements, petroleum taxation in conjunction with licensing rounds above, and countries including for the Republic of Palau (in conjunction with the World Bank), Saudi Arabia, State of Alaska

  • Preparation for privatization and restructuring within the domestic petroleum environment