Resource revenue sharing ministry of energy, northern. Production sharing contracts or agreements psc hereafter are ubiquitous in much of asia, africa and the middle east, with only a handful of countries in these regions adopting a royaltytax or concession rt regime or some hybrid. This free online tool allows to combine multiple pdf or image files into a single pdf document. We have millions of legal documents and clauses that you can search for free. Compared to this outcome nsa can be regarded as a more competition constraining way of increasing efficiency. Now youve also got an easy way to combine and organize them all into one pdf.
A this agreement between the department for communities and local government. Production sharing contract overview production sharing contracts. Merge or split pdfs with kofax pdf converter kofax. For example, companies in japan, korea and taiwan primarily coproduce in china, indonesia, malaysia, thailand, and the philippines with a focus on computer hardware, telecommunications equipment, electronic components and appliances. Renegotiation of nigerias production sharing contracts. The leak in july 2014 of an important addendum to a production sharing agreement psa between norwegian national oil company statoil and the government of tanzania has ignited a debate on whether tanzania got a good deal from granting these extraction rights for a block now expected to produce large amounts of commercial natural gas. If you save it to the existing file, now your edited pdf document is back on imanage continuing with the same lease agreement. How to access, merge, edit, and share imanagebased pdf files. Production sharing agreements concession and contract fiscal systems elements of production sharing contracts pscs, including cost oil and profit oil financial accounting for pscs nonrisked and risked service contracts group case studies for production sharing contracts register for this course now. The oil production sharing agreements are here for you to browse in full. Revenuesharing arrangements in production sharing agreements illustrate.
Production sharing is not unique to the united states. Although, competition policy was rather lenient towards sharing agreements, it also often use remedies in order to keep the wholesale market open, which can be regarded as unnecessary, if the general efficiency arguments are valid. Exploration opportunities production sharing contract overview. Production sharing agreement wells and allocation wells present workable alternatives to pooling the tracts needed to drill a horizontal well, but are not without risk, and will often create. How to merge pdfs and combine pdf files adobe acrobat dc. These production sharing agreements are actual legal documents drafted by top law firms for their clients. The only vote of the stockholders of the company required to adopt the agreement of merger as such term is used in section 251 of the corporation law contained in this agreement and approve the merger is the affirmative vote of the holders of not less than a majority of the outstanding shares in favor of the adoption of the agreement of. Whereas, the boards of directors of acquiror and the company have approved the merger of the company with and into merger sub, with merger sub being the survivor the merger, upon the terms and subject to the conditions set forth herein and in accordance with the laws of the state of delaware. The general trends of this industry indicate that network sharing is becoming important, however, since they are horizontal agreements, competition concerns can be raised.
Under a psa the state as the owner of mineral resources engages a foreign oil company foc as a contractor to provide technical and financial services for exploration and development operations. Production sharing agreements psas are among the most common types of contractual arrangements for petroleum exploration and development. The investors are to implement all specified works at their own account and risk. Commission sharing agreements the number of csa commission sharing agreementsccas client commission arrangements put into place by investment managers reflects a countrys regulatory evolution in the unbundling of research from execution. A guide to nondisclosure agreements for mergers and.
Terms and conditions for content network sharing agreements. Production sharing contract will be brought into discussion. An invaluable resource to practitioners and students of the craft of structuring, documenting and negotiating public company transactions, the model merger agreement for the acquisition of a public company will enlighten practitioners around the world regarding best practices in. Introduction the governments of hydrocarbonproducing countries have utilized a variety of different forms of contracts in their arrangements with domestic and foreign investors in the exploration and.
Bluff merger implementing agreement, it was agreed that trainmen at lllmo and poplar bluff would be given certain options to relocate to dexter rather than st. Effective date means the first day of the month next following the month in which this agreement is signed by sonangol and contractor group. Although it is not clear how the particular type of contract is selected for a particular project, it follows from other provisions of. An agreement to share the production or extraction costs between two governments, a government and a corporation, or a corporation and an individual. To provide participants with an indepth understanding of the concepts, mechanisms and articles of production sharing and joint operating agreement. From the fgns perspective, given that some of these pscs were negotiated and entered into over 20 years ago, there is a need to update them to reflect current realities and also to. Use them for competitive intelligence, drafting documents or to get information about transactions within a particular industry or sector. Documents such as medical records, contracts, legal briefs, and financial. By utilising a powerful economic model, participants will be able to carry out. Chapter 14 complexity and commercial disputes in production sharing contracts james lloyd loftis, robert reyes landicho and francesca fraser i. Direct care services means any eligible service that is. Resource revenue sharing it represents one of ontarios commitments to reconciliation and supports economic development opportunities to. These terms and conditions for content network sharing agreements set out the terms under which you, as a partner of gnms content networks, agree to share content with gnm.
At the end, this dissertation will compare both regimes from a contractual perspective in order to answer whether it is really necessary to adopt a new regulatory framework based on a production sharing contract for the subsalt area in brazil. The government of uganda has signed production sharing agreements with oil companies prospecting and showing interest in production of oil in uganda. Now therefore, in consideration of the undertakings and mutual covenants contained herein, the parties agree as follows. Create, convert, edit and share pdf files for individual use. Production sharing offers benefits, opportunities and. An example is the kenyanmodel9 which provides as follows at clause 2. Memorandum of understanding regarding data sharing. The specific details of such options are set forth in side letter no. Under a psa the state as the owner of mineral resources engages a foreign oil company foc as a contractor to provide technical and. Power pdf is flexible enough to serve any industry, yet powerful enough to edit any document. Uganda oil uganda production sharing agreements oil. Csas consist of a percentage of execution fees, that are directed to pay. Impact on commission sharing agreements csas6 as noted above, the delegated directive provides that the provision of investment research by third parties to investment firms shall not constitute an inducement if the research is received in return for any of the following. Our pdf merger allows you to quickly combine multiple pdf files into one single pdf document, in just a few clicks.
Why governments have succeeded in exploring more money from iocs. The fundamental distinction between psc and rt regimes lies in the. Production sharing agreements vs service contracts from. Psc is an agreement between the parties to a well and a host country regarding the percentage of oil and gas production each party will receive after the participating parties have recovered a specified amount of costs and expenses. Psc is the acronym of production sharing contract psa may also be used to refer to production sharing agreement.
In this chapter we will also address the opening of the new company petrosal. Model production sharing contract under the petroleum act. This can be accomplished when two countries agree to allow certain raw materials to be shipped tariff free from the first country to the second country where the materials are. Click continue editing to edit, sign or share the document youve just created.
An analysis of comparative practicein certain african jurisdictions. The psas have been a matter of public concern with many people calling upon the government to make them public. Chapter 4 presents the comparative analysis of both regulatory systems and presents the main differences between the concession. Production sharing agreements were first used in bolivia in the early 1950s, although their first implementation similar to todays was in indonesia in the 1960s. Today they are often used in the middle east and central asia in production sharing agreements the countrys government awards the execution of exploration and production activities to an oil company. 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. This profit sharing agreement template is written in a manner so that it can apply to a situation whereby a company has hired someone to market a product for them and offered a share of the profits on the sale of the product. Model psc under the petroleum act page 2 production sharing contract dated this agreement is a production sharing contract made under the petroleum act between the, acting on behalf of the democratic republic of timorleste the ministry. Contracts for large natural resource investments are usually very complex, raising challenges for negotiators, implementers, and scrutinisers. Fiscal challenges of tanzanias production sharing agreements psas zitto kabwe, mp and chairman pac dar es salaam, september 2014 introduction the recent leak of the natural gas terms agreed with statoil exxonmobil is an opportunity to examine.
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