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Production sharing agreements can be beneficial to governments of countries that lack the expertise and/or capital to develop their resources and wish to attract foreign companies to do so. They can be very profitable agreements for the oil companies involved, but often involve considerable risk.
The intention is to promote "the concept of participation in a transaction backed by real assets, utilizing the funds at risk on a profit-and-loss-sharing basis". [2] Profit and loss sharing is one of two categories of Islamic financing, [2] the other being debt like instruments [5] such as murabaha, istisna'a (a type of forward contract ...
An example of the concept of wakalah is in a mudarabah profit and loss sharing contract (above) where the mudarib (the party that receives the capital and manages the enterprise) serves as a wakil for the rabb-ul-mal (the silent party that provides the capital) (although the mudarib may have more freedom of action than a strict wakil). [166]
In April 2004, the extension area north of block 5 was included to the production sharing agreement. Inauguration of new offshore facilities took place on 23 February 2005. [5] In May 2008, Maersk Oil drilled the world record extended reach well BD-04A in the field with the GSF Rig 127 operated by Transocean. The well was drilled incident free ...
By Blake Brittain (Reuters) -GlobalFoundries and IBM said on Thursday they have settled dueling lawsuits in which GlobalFoundries was accused of breaching a contract with IBM and the computer ...
Both pages list Jennifer and Brandon's death dates as Dec. 27. Facebook. Related: Utah Mom Fled Ethnic Cleansing in Myanmar with Young Family. Then Husband Killed Them in Murder-Suicide.
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