This work contains a detailed analysis and description of international and regional conventions, multilateral and bilateral agreements, national laws and regulations, official statements and policy documents, licences, contracts and commercial co-operation agreements concerning the search for and exploitation of petroleum reservoirs. It analyzes regulatory activity aimed at providing rules for the orderly conduct of these operations, at maximizing the economic, strategic and fiscal benefits and at satisfying legitimate environmental concerns. This text offers a detailed and accessible analysis of these complex issues and provides essential reading for international consultants and legal professionals negotiating and devising regulatory and co-operative aspects of petroleum operations and for geologists, petroleum engineers and others in charge of petroleum ventures and joint ventures.