OIL AND GAS LAW


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Petroleum liquid (crude oil) that is recovered from some depth within the earth through boreholes is a liquid and in its liquid and gaseous forms, petroleum is the most important of the primary fossil fuels that supply the bulk of the world’s energy requirement. The laws of many countries define oil or crude oil as mineral oil in its natural state before it is refined or otherwise treated. Natural gas, like crude oil, consists of hydrocarbons, but as its name suggests it exists in the gaseous state. Oil is a raw material, as well as a convenient and effective source of energy. The upstream activity segment is related to exploration, discovery and extraction of oil and gas and their treatment, transportation and delivery to designated export terminals or otherwise to processing plants e.g. refineries; this provide opportunities to business enterprises to engage in upstream activities and ancillary services such as surveying, civil works, seismic data acquisition and interpretation, geological activities, drilling operations, exploration and actual crude oil production. The downstream activity segment comprises the delivery to the processing plants, which include refining and subsequent conversion to petrochemical products, transportation and marketing of the finished product and ancillary related services, which provides opportunities for investment in refineries, chemical industries, product marketing and distribution services and manufacturing of petroleum by-products such as insecticides, cosmetics and water/dam-proof building materials such as floor tics and tarpaulins. However, the Cameroonian Petroleum and Gas Law is substantially statutory in nature including signed treaties of rules of international economic law, law of international organisation (OPEC) and international contract of laws. We of the Ekontang Elad Chambers are ready to give investors in this area of business their advice and opinion as well as being represented where necessary in order to facilitate a smooth functioning of business investments protected by the laws of the country doing business with the government.