Read the attached case

Production sharing contracts in the Indian Oil and Gas Sector and answer the following two questions:

You have been approached as a Procurement & Commercial Contracts specialist to advise the committee set-up to analyse the performance of "petroleum sharing contracts" on possible remedial actions to address non-performance. In particular, you are expected to address the following questions:

Question 1 [50 marks] Discuss the factors to be considered in identifying a suitable procurement strategy, system, process and supplier selection criteria when identifying fit-for-purpose suppliers\partners for the Government of India within the petroleum sector through a "production sharing contracts" approach.

Question 2 [50 marks] Given the nature of the challenges highlighted in the case, and your analysis in Question 1, what considerations should be taken when approaching "production sharing contracts" especially given the observation that the current approach tendered to favour government at the expense of investors\partners\suppliers? Please elaborate.