Revenue sharing oil contract

Production-Sharing Agreements (PSAs) are among the most common types of contractual arrangements for petroleum exploration and development. 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

In the oil and gas sector, there are several revenue sharing models in operation around the world. These range from those that favour the derivation principle i.e. each subnational government’s share is related to the oil revenue originating in its territory, to those that are more like intergovernmental transfers (Ahmad and Mottu, 2002, pp. 15-16). Accepting the suggestion in-principle, the Ministry, on Thursday, shared a model revenue sharing contract (MRSC) that the government would enter into with companies with exploration acreage and Other times, revenue sharing is used to distribute profits that result from a business alliance. Revenue sharing is also used in reference to Employee Retirement Income Security Act (ERISA) budget accounts between 401 (k) providers and mutual funds. "The Government's revenue share of crude oil and/or natural gas shall be determined based on a two dimensional production-price matrix, where Government's revenue share with the contractor (s)

cases, production-sharing contracts between the government and petroleum Nigeria's oil and gas sector represents about 65% of government revenues.

27 Jun 2019 The country's new petroleum Revenue Sharing Agreement, or RSA, relates to Somalia's petroleum law, which was approved last month in an  Tullow supports disclosure of Production Sharing Agreements, but will only publish Our Petroleum Agreements for the Deep Water Tano Contract Area and the at which capital is invested and revenues are received by host governments,  2 Apr 2018 Contract (PSC) Cost Recovery into PSC Gross Split in the oil and gas calculates revenue sharing based on oil and gas gross (gross)  Revenue Sharing Contract (RSC) Revenue Sharing Contract (RSC) is a term used in the Hydro carbon industry and refers to an agreement between Contractor and Government whereby Contractor bears all exploration risks, production and development costs in return for its stipulated share of revenue resulting from this effort. The contractor's share of revenue from petroleum produced and saved, shall be the amount of revenue for the relevant month remaining after deducting the government's revenue share (“contractor’s revenue share”), the contract said.

oil or gas (PSA based revenues) and with the latter we have corporation tax, withholding Table1: Production Sharing Agreement on onshore gas fie. Tranches 

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1 Jul 2019 The petroleum ownership management and revenue sharing agreement, passed by the federal parliament on 20 May, details the revenue splits 

A Brief History of Petroleum Contracts. 3 Production-Sharing Agreement Production-Sharing Agreements (PSAs) are among the most common types of this basic form the government has three sources of revenue: royalty, tax, and its. 10 Sep 2019 Cost Recovery Revenue Sharing Contracts are demonstrated by the return of costs that are the responsibility of the Government based on the  production sharing contract that may be agreed in writing by the Parties in accordance with Costs incurred under this Contract against all Petroleum revenues. In a production sharing contract (“PSC”) the host country's government awards to The calculation of the oil revenue flow can be quite complicated – things to  1 Jul 2019 The petroleum ownership management and revenue sharing agreement, passed by the federal parliament on 20 May, details the revenue splits  Petroleum Profits Tax. PRML. Petroleum Revenues Management Law. PSC. Production Sharing Contract. SNGs. Sub National Governments. SPLA/M. exclusive economic zone and any Petroleum Operation under this Contract shall revenue expenditures, incurred in respect of Exploration Operations and 

The asymmetrical revenue sharing arrangement means that the special autonomy regions receive a larger share of the oil and gas revenues generated within their jurisdiction. Thus, Aceh will receive 70 per cent of oil and gas revenues for the first nine years, and Papua and West Papua will each receive 70 per cent of

28 Feb 2013 Under the existing production sharing contract (PSC), the contractor first recovers his expenditure before sharing profit. What is under  Oil and Gas exploration requires substantial investment and the chances of not hitting the reserves are always there. Government/PSUs cannot always put in 

In the oil and gas sector, there are several revenue sharing models in operation around the world. These range from those that favour the derivation principle i.e. each subnational government’s share is related to the oil revenue originating in its territory, to those that are more like intergovernmental transfers (Ahmad and Mottu, 2002, pp. 15-16). Under the existing production sharing contract (PSC), the contractor first recovers his expenditure before sharing profit. What is under consideration is production-linked payment, which is said to IOCs share of revenue generally is calculated on the same basis as the IOC’s share of production calculated under the Production Sharing Contracts. Under the RSC, once the production is made by the contractor, it receives payment in cash only for the services it provides for the HC. Revenue Sharing. (a) The Parties hereby agree that in exchange for the contribution by Affiliate of the Investment Amount to DBNY, and subject to the terms of this Agreement, Affiliate is Production-Sharing Agreements (PSAs) are among the most common types of contractual arrangements for petroleum exploration and development. 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 Production sharing agreements (PSAs) or production sharing contracts (PSCs) are a common type of contract signed between a government and a resource extraction company (or group of companies) concerning how much of the resource (usually oil) extracted from the country each will receive. In the oil and gas sector, there are several revenue sharing models in operation around the world. These range from those that favour the derivation principle i.e. each subnational government’s share is related to the oil revenue originating in its territory, to those that are more like intergovernmental transfers (Ahmad and Mottu, 2002, pp. 15-16).