In recent years, a great deal has changed in the oil and gas industry, from legal and regulatory change to falling oil prices. The contemporary oil and gas industry is now intensely focussed on cost-saving and the UK has radical redrawn its revenue-raising expectations. This updated third edition of UK Oil and Gas Law has been published in two volumes: this volume focuses on commercial and contract law issues, while the other deals with resource management and regulatory law. The twin volumes bring together academic and practising lawyers, mainly based in Aberdeen, Europe's Energy Capital, to consider the key regulatory and commercial dimensions of an ever-changing hydrocarbon province.