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Production Sharing of Petroleum. 17. Taxes, Royalties, Rentals, Duties etc. 18 exclusive economic zone and any Petroleum Operation under this Contract shall be carried out under a license granted by the . Point under a programme of regular production and sale. 1.21. "Company" for the purpose of this Contract means
Costs and expenditures. 19. Article 11. Recovery of costs and expenditures. 20. Article 12. Production sharing. 21. Article 13. Lifting and disposal of Crude Oil Concession Decree, wishes to sign a Production Sharing Agreement with ______; .. and standards which are generally accepted in the international petroleum.
CONTRACT means this Production Sharing Contract and its appendices 2.1 The Contract is a Production Sharing Contract and includes all the provisions of SHARING. 16.1 From the commencement of regular production of Crude Oil, the contractor shall market all the production of Crude Oil obtained from the
INTRODUCTION. Part I: The Background. 2. THE RATIONALE BEHIND PRODUCTION-SHARING. AGREEMENTS. 2.1 Mineral Development in General. 2.2. 2.3. Ownership Sample PSA Cash Flow with Volume-Based Sliding Scale. Sample Production-Sharing Agreements (PSAs) are among the most common types of.
26 Oct 2011 Production sharing agreement (PSA) is a contract between one or more investors and the government in which rights to prospection, exploration and extraction of mineral resources from a specific area over a specified period of time are determined. According to the terms of a standard PSA1, the
26 Aug 2011 production of the Petroleum on, in or under the Contract Area and the Contractor desires to join and 1.1. Scope. This Agreement is a production sharing agreement and it shall cover Petroleum Operations 1.2.5 "Barrel" means a quantity consisting of 158.984 liters at standard atmospheric pressure of.
SHARING FOR THE AZERI AND CHIRAG FIELDS AND THE DEEP WATER. PORTION OF THE . Petroleum industry. As regards design standards and specifications for facilities and equipment the provisions of development and production of Petroleum from the Contract Area in accordance with international. Petroleum
“Agreement" or “the Agreement" means this Production Sharing Agreement executed among the Government, TPDC and ABC, including its Annexes. (c). “Appraisal" means the activity carried out after the discovery of Petroleum to better define the parameters of the Petroleum and the reservoir to which the discovery relates
2 Feb 2007 of Production Sharing Contracts may be entered into between the Republic and the. Contractor; 1.1. Scope. This Contract is a Production Sharing Contract, the scope of which is the exploration, appraisal in accordance with generally accepted accounting procedures and standards of the international
Production sharing Contract. Financial Aspects. ? Introduction. ? Basic Principles. ? Exploration & Development Activities. ? Production Activities. ? Supporting Activities Contract extension proposed to the Minister through BPMIGAS within 10 to 2 years prior to the .. STANDARD COMMON SPLITS. NOTES: New PSCs

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February 2018