Swings and roundabouts

In some ways, Libya's new model exploration and production-sharing agreement compares favourably with many other production-sharing regimes. But stipulations in some areas, such as those covering local-content requirements and the methodology for determining elements of the profit split, may worry private investors. Nabil Khodadad, Shane DeBeer and Dan Rogers, Chadbourne & Parke, analyse a draft of Epsa-4