International exploration and production is challenging and exciting. Negotiating with governments and understanding the dynamics of their fiscal systems and/or production sharing contracts can mean the difference between success and failure. Long-time industry consultant, negotiator and lecturer, Daniel Johnston, provides an extremely clear and practical perspective on: International exploration economics and risk analysis Petroleum fiscal system analysis and design Contract negotiations Economic, financial and acounting aspects of production sharing contracts and royalty/tax systems. International Exploration Economics, Risk, and Contracts Analysis is an anthology of articles from Johnston's column in the Petroleum Accounting and Financial Management Journal (PAFM) - Institute of Petroleum Accounting, University of North Texas. While some chapters date back a number of years, the key chapters and concepts have been dramatically updated with detailed examples. Contents: International petroleum fiscal system analysis Thinking of going internatinal? Trends and issues in foreign PSCs Current Developments The international gas industry Alignment of interests The ideal system Economic modeling/auditing - art and science - part 1 Economic modeling/auditing - art and science - part 2 Finger-on-the-pulse Kashagan and Tengiz The bidding dilemma Government take not the perfect statistic The value of reserves in-the-ground, effective royalty rate (ERR), booking barrels, ROR systems and 'R factors', maximum efficient rate (MER) Example contracts and/or fiscal systems from around the world Glossary Appendices.