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Oil and gas companies are constantly in search of opportunities to expand their resource base and create value. Emerging markets can provide companies with opportunities for significant rewards, especially in regions where oil and gas resources may be underdeveloped and where new technologies have not yet been exploited. However, emerging markets also pose numerous challenges and risks, which can potentially lead to significant legal and reputational damage. This article explores key legal risk areas for oil and gas companies in emerging markets and best practices for managing those risks and operating in a socially responsible way, recognizing that risk management centers around controlled and reasoned decision-making, not eliminating risk. The article is intended to provide a high-level overview of the key legal risk areas and mitigation strategies to serve as a guide for directors and management teams operating in these challenging regions as opposed to providing a comprehensive discussion on any particular risk area. [ABSTRACT FROM AUTHOR]

This article explores the risks associated with energy transition projects and provides strategies for mitigating those risks. The risks identified include permitting and regulatory challenges, social impacts, operational difficulties, and geopolitical risks. Permitting delays and regulatory uncertainty can hinder the deployment of renewable energy projects, while the construction of large-scale projects can have negative effects on economic inequalities and Indigenous communities. Operational risks arise from operating in remote areas with inadequate infrastructure. Geopolitical risks can manifest through trade controls and the weaponization of regulations. The article also discusses the challenges of environmental, social, and governance (ESG) risks and provides best practices for mitigating them, emphasizing the importance of ESG due diligence. The article concludes by highlighting the need to address these risks in order to attract investment and effectively advance energy transition projects. [Extracted from the article]