Dispute Resolution in the Oil and Gas Industry

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Disputes in the oil and gas industry can range from quantity and quality disputes, jurisdiction disputes, disputes involving equipment, gas contracts, oil trading contracts, subcontracting and a host of them. In the oil and gas industry, you tend to find different contractors from different parts of the World coming together in a joint venture, or some sort of arrangements for commercial purposes. Generally, dispute is inevitable, so also in the oil industry. Therefore it is advisable and necessary to anticipate likely disputes in advance and provide a suitable means to resolve such disputes. The need for processes that are fast, effective and cause minimum or no disruptions to working activities and relationships are always appropriate. Processes that are both private and flexible are most preferred by the oil industry. This is because the nature of the oil industry is a peculiar one in the sense that it makes or loses money per second of production or non-production. This work summarises and discusses why resort to court is inevitable in the Oil and gas industry.