Malcy (pronounced 'Malky') is a former banker (I believe) who writes a blog about the oil industry shares: https://www.malcysblog.com/ He is a well-known figure among private investors in the oilies.
From paragraph 7 of the article: "BPC’s original agreement with the Government effectively gives this nation a 50/50 profit split if it discovers commercial quantities of oil, with the company paying a sliding scale of royalties between 12.5-25 per cent, depending on how much volume is recovered daily."
I seem to remember there were blockades by truckers when the oil was that high in the early year 2000s. There was pressure on PM Tony Blair to ease the fuel duty.
With inflation, a $200 price in the next few years won;t even be as high as that $160 price was back 15 years ago.