--> Abstract: The Future of E&P and Trends in Cooperation Between Private and National Oil Companies, by J. W. Simpson; #90937 (1998).

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Abstract: The Future of E&P and Trends in Cooperation Between Private and National Oil Companies

SIMPSON, JAMES W., Chevron Overseas Petroleum Inc.

Major political changes over the last decade have altered the way national oil companies are organized and have transformed their roles. Glastnost and Peristroika in Russia, the Apertura in Venezuela and similar transitions in other countries, notably China, are a few examples of structural change.

Without concluding whether these are good or bad changes for our industry, the paper seeks to define what has happened, what trends have emerged and where they will take both national and private oil companies in the future.

One clear trend is that national oil companies are turning toward exploration and development outside their home country. Private companies are increasingly being asked to swap assets as a mechanism to gain access to an emerging country. Both groups will need to understand how they can create new value by pooling financial, technical and operational competencies beyond simply swapping assets of similar value.

In this changing landscape, it is crucial to recognize what is happening and how organizational entities can adapt to working together in creative and effective new relationships.

AAPG Search and Discovery Article #90937©1998 AAPG Annual Convention and Exhibition, Salt Lake City, Utah