A Practical Guide to Upstream Petroleum Granting Instruments reviews the content and the effect of the various forms of granting instrument which are used worldwide for petroleum exploration and production. The guide begins with a general review of the use of granting instruments for the regulation of petroleum exploration and production activities (including consideration of the various forms of granting instrument and how they are awarded), and then goes into a clause-by-clause analysis of the terms of a production sharing contract (as the most widely used granting instrument worldwide, although the content of this analysis will also be relevant to the terms of other forms of granting instrument). The analysis of the production sharing contract's terms also identifies and references a number of publicly-accessible production sharing contract examples for further illustration of the provisions which are discussed.