Jurisdiction

This is incorrect. Environmental regulations are heavily influenced by jurisdiction.

This is incorrect. Royalty rates vary based on the jurisdiction.

This is the correct answer. While jurisdiction influences some aspects of the industry, it doesn't directly determine marketing strategies.

This is incorrect. Permitting procedures are heavily influenced by jurisdiction.

This is incorrect. Local governments usually have limited jurisdiction over federal lands.

This is incorrect. While states may have some involvement, the federal government usually has primary jurisdiction over federal lands.

This is the correct answer. Federal governments typically have primary jurisdiction over resources on federal lands.

This is incorrect. While international organizations may have agreements, they don't typically have primary jurisdiction over specific lands.

This is partially correct, but international agreements also cover wider aspects beyond just local regulations.

This is partially correct, but international agreements cover more than just avoiding conflicts.

This is the correct answer. International agreements define rights and responsibilities for transboundary operations.

This is incorrect. While tax structures are important, international agreements focus on broader legal frameworks.

This is incorrect. This is a clear example of state jurisdiction influencing the oil and gas industry.

This is incorrect. Contractual agreements are influenced by the jurisdiction where they are executed.

This is the correct answer. While global production quotas can influence the industry, they are not directly a result of jurisdiction.

This is incorrect. This is a clear example of jurisdiction determining the court's authority.

This is incorrect. While social media is important, it doesn't directly address navigating the legal landscape.

This is the correct answer. Compliance programs are essential to ensure adherence to laws and regulations.

This is incorrect. While cost-cutting is important, it doesn't directly address legal compliance.

This is incorrect. While technology is important, it doesn't directly address navigating the legal landscape.

Here are three key areas the company should investigate:

1. Resource Ownership and Rights: The company needs to determine which country has jurisdiction over the potential oil resources. This includes understanding any existing treaties or agreements between the two countries regarding shared resources.
2. Environmental Regulations: The company must identify and understand the environmental laws and regulations of both countries regarding oil exploration and extraction. This could involve different standards for waste disposal, emissions, and water management.
3. Permitting and Approvals: The company needs to know the specific permitting processes and requirements in both countries to initiate exploration activities. This could involve obtaining licenses, environmental impact assessments, and community consultations.