Here is a brief description of major projects carried out by Van Meurs, Van Meurs
Corporation (VMC) and until 2001, its Canadian company, Van Meurs & Associates Limited
ALASKA - Van Meurs was the main consultant involved with the Government of
the State of Alaska for the restructuring of fiscal terms for North Slope oil. The
consultant was main economic advisor for the State of Alaska on the $ 20 billion
gas export pipeline project under Governor Frank Murkowski. He was lead consultant
on the recent introduction of the new PPT law, the new Alaska fiscal system.
NEWFOUNDLAND - VMAL provided extensive assistance to the Government of the
Province of Newfoundland between 1974 - 1980. Assistance was provided in drafting
the provincial petroleum legislation and development the provincial fiscal system.
VMAL analyzed and reviewed possible arrangements for revenue sharing and joint administration
between the Government of Canada and the Province of Newfoundland. Assistance was
provided in the negotiations of the first round of licensing in the offshore areas.
A petroleum economics department was set up and extensive training was provided.
Recently, the consultant was assisting in developing new fiscal terms for gas.
CANADIAN WESTERN ARCTIC - Assistance was provided between 1976 and 1984 in
the negotiation of a land claims settlement covering the entire Beaufort-Mackenzie
Region in order to protect the interests of the local aboriginal people, the Inuvialuit.
The negotiations resulted setting up a special land regime, very significant cash
transfers and the establishment of preferential and exclusive hunting and trapping
rights. Also a special environmental review process for the Arctic areas was created.
The land claims settlement was concluded in 1984. Subsequently, important concessions
with Esso and Shell were negotiated on aboriginal lands. These concessions brought
significant benefits in terms of local employment and local business opportunities
and income to the aboriginal people. Dr. van Meurs was President of IPC, a successful
Alberta oil and company owned by the Inuvialuit. VMAL assisted in the creation of
unique programs for the improvement in education of aboriginal people.
TRINIDAD AND TOBAGO - VMAL assisted in the reorganization of the fiscal system
and petroleum legislation in Trinidad and Tobago (1991 - 1993), which resulted in
the adoption of a new version of the Supplementary Petroleum Tax, adjustments in
the corporate income tax, and other fiscal provisions. The adjustments resulted
in significant new interest by foreign petroleum companies in the country. Comprehensive
training programs for the Government of Trinidad and Tobago were provided. The PARCA
Model was delivered and used to analyze the adjustments in taxation and for forecasting
the petroleum revenues of the country. VMAL assisted evaluating bid results for
the new offshore blocks and recently reviewed the SPT legislation.
BOLIVIA - VMAL assisted Bolivia during 1985 - 86 with respect to the evaluation
of the petroleum contracts and fiscal system. A review of the feasibility of an
export gas pipeline to Brazil and a survey of the potential Brazilian market for
Bolivian gas were carried out. During 1993 an in depth economic analysis of the
petroleum fiscal system of Bolivia was completed and a number of fundamental changes
to the fiscal provisions were recommended.
During the period 1994 - 1996 VMAL was the main consulting firm with respect to
the introduction of a new Hydrocarbon Law and the associated regulations. In 1997
VMAL organized the nominations for new areas which resulted in a highly successful
bidding round of 34 blocks.
VMAL was one of the key advisors in the capitalization of YPFB, resulting in investment
commitments of $ 800 million as well as the negotiation of export gas sales contracts
and the negotiation of the Bolivia-Brazil pipeline.
GUATEMALA - VMAL assisted in the complete review and overhaul of the petroleum legislation
and administration in Guatemala (1975 - 1980). A new petroleum law was introduced
and adopted. A highly successful bidding round resulted in the granting of five
blocks and the drilling of more than 15 new exploration wells, resulting in the
discovery of several new oil fields. The Guatemalan petroleum administration was
developed and trained. VMAL organized the supervision and cost control of the construction
of the main export oil pipeline, which turned Guatemala into and exporter of oil.
HUNGARY - VMAL carried out an economic assessment of the oil and gas fields of Hungary
and assisted in the development of terms and conditions for possible production
sharing contracts with the national oil company OKGT (1990 - 1992). VMAL assisted
in the drafting of these contracts and the subsequent licenses. Extensive training
was provided to the management of OKGT in petroleum economics and decision making
techniques, including the delivery of the PARCA software.
RUSSIA - VMAL was one of the foreign firms providing advice to the Government of
Russia with respect to the drafting of the Law on Concessions and Production Sharing
Contracts, currently under review. Petroleum software was provided to the tax committee.
GABON - VMAL carried out several projects in Gabon. During 1984 - 87, assistance
was provided for the development of production sharing contracts in Gabon. The PARCA
Model and associated training was provided. Various other training programs were
carried out. During 1991 - 1992, VMAL participated in the petroleum diagnostic study
which consisted of an in-depth review of the petroleum industry in Gabon and particularly
the payments to government. The review resulted in the recommendation of various
changes in administration, which were implemented. Forecasts of government petroleum
income for the next five years were provided and assistance was given in the review
of oil price determination procedures and accounting procedures.
BANGLADESH - VMAL participated at various times in projects in Bangladesh (1984
through 1993) involving a variety of activities. Assistance was provided in the
development of a new model production sharing contract, which resulted in attracting
new interest in exploration in the country. The contract needed to be developed
for the specific environment of a "gas prone" area, which required new and innovative
clauses. Significant training programs were carried out and software was delivered.
The economics of the oil discovery in the country and the related contract were
evaluated. VMAL also investigated the economics of an ammonia project and provided
advice on the negotiation of the related gas price formulae.
CHINA - VMAL delivered extensive petroleum services to CNOOC, the Chinese National
Offshore Oil Corporation (1980 - 1984). Assistance was provided in the development
of the petroleum law, the model production sharing contract and the accounting procedures
which were used for the first offshore bidding round. The first offshore bidding
round was prepared and the development of bid evaluation criteria and bid evaluation
procedures established. This first bidding round resulted in very considerable interest
from the petroleum industry.
KUWAIT - Van Meurs is currently chief advisor on a project for KOC with respect
to the determination of fiscal terms for the North Kuwait oil fields for a possible
ALGERIA - VMC was senior economic advisor to the Minister of Mines and Energy in
Algeria for the implementation of the new hydrocarbon law including the Petroleum
Revenue Tax as well as with respect to the MEDGAZ gas export pipeline to Spain and
the GTL project.
PAKISTAN - VMAL assisted in a number of projects in Pakistan. This included the
reorganization of the petroleum legislation and reorientation of the petroleum agreements
in Pakistan. As a result of the changes, Pakistan, has seen a rather active petroleum
development in the country. Extensive training programs and seminars were provided
on petroleum issues for government officials as well as the national oil company
OGDC. Economic evaluations were carried of the Toot oil field and the Pirkoh gas
field. VMAL was involved in the restructuring of the fiscal terms for the offshore
THAILAND - VMAL provided major assistance with respect to the revision of the petroleum
law and the related fiscal system. The Thai system was changed drastically with
the key objective of making smaller oil and gas fields more economically attractive.
An innovative new system was developed that provided a direct incentive to drilling
new wells. As a result of the changes, there has been a strong increase in drilling
activity in the country. The PARCA Model was provided and used extensively to determine
the details of the new fiscal system. Intensive training was provided to a wide
variety of government officials. VMAL also provided advice on gas pricing formulae
for gas development. An in-depth economic evaluation of the remaining petroleum
potential in Thailand was carried out.
MEXICO - VMC was the lead economic advisor of the Multiple Services Contract Project
of PEMEX, related to the 2003 bidding round in the Burgos non-associated gas area.
VMC was also the main contractor for the new draft fiscal law for PEMEX.