IDEAS home Printed from https://ideas.repec.org/a/ids/ijtrgm/v11y2018i1-2p127-137.html
   My bibliography  Save this article

Perception of contractual risk allocation in the oil and gas contracts in Malaysia

Author

Listed:
  • Wan M. Zulhafiz

Abstract

Oil and gas projects are risky undertakings, which may cause severe damages to property and the environment, not to mention, personal injury and death to personnel. Contractual provision such as an indemnity and mutual hold harmless clause is used as a tool in allocating the risks. However, as a consequence of the private and government litigation arising from the Macondo oil spill in the Gulf of Mexico in 2010, evidence suggests that operators generally are seeking to modify the established approach to liability allocation through individual contract negotiations with contractors. This scenario has significant and potentially adverse financial implications for the contractors and for the long-term sustainability of the industry. An empirical study was conducted to investigate the issues and problems with regard to contractual risk allocation in oilfield service contracts in Malaysia. The methodology employed in this paper will essentially be a combination of literature review and qualitative study.

Suggested Citation

  • Wan M. Zulhafiz, 2018. "Perception of contractual risk allocation in the oil and gas contracts in Malaysia," International Journal of Trade and Global Markets, Inderscience Enterprises Ltd, vol. 11(1/2), pages 127-137.
    • Handle: RePEc:ids:ijtrgm:v:11:y:2018:i:1/2:p:127-137
    as

    Download full text from publisher

    File URL: http://www.inderscience.com/link.php?id=92483
    Download Restriction: Access to full text is restricted to subscribers.
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ids:ijtrgm:v:11:y:2018:i:1/2:p:127-137. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sarah Parker (email available below). General contact details of provider: http://www.inderscience.com/browse/index.php?journalID=130 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.