No 41


NOC-IOC Relations And Their Impact On Investment In The Upstream Sector

By Vahan Zanoyan

The following report by Vahan Zanoyan, President and CEO, the Petroleum Finance Company (PFC), was presented as one of the experts papers to the 8th International Energy Forum, held in Osaka, Japan on 21-23 September. Reprinted with permission.

Investment in the global upstream oil and gas sector is determined by the balance (or perceived balance) between opportunity and risk....