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In the oil and gas industry, a farmout agreement is an agreement entered into by the owner of one or more mineral leases, called the "farmor", and another company who wishes to obtain a percentage of ownership of that lease or leases in exchange for providing services, called the "farmee." The typical service described in farmout agreements is ...
The lease can be extended in 2018 if the first stage from 2015 to 2018 was successful. Russia needed the Chinese funds to replace a shortfall caused by international sanctions . [ 12 ] [ 13 ] The Transbaikal region borders with China, and the lease agreement stirred up a maelstrom of controversy and anxiety in Russia. [ 14 ]
R = The royalty assigned to the mineral rights owner by the oil and gas lease covering the minerals; P = Participation factor assigned to the tracts owned by the mineral owner as described in a unit agreement; Y = Additional ownership factor assigned to the owner's mineral rights by any other arrangement or agreement; D = Deductions
Other forms of contracts between public and private entities, namely lease contract and management contract (in the water sector often called by the French term affermage), are closely related but differ from a concession in the rights of the operator and its remuneration. A lease gives a company the right to operate and maintain a public ...
A profit (short for profit-à-prendre in Middle French for "advantage or benefit for the taking"), in the law of real property, is a nonpossessory interest in land similar to the better-known easement, which gives the holder the right to take natural resources such as petroleum, minerals, timber, and wild game from the land of another. [1]
New Delhi had signed a 10-year, $500 billion agreement with Tehran to run and operate the port, which India sees as a vital trade route to Central Asia and Afghanistan bypassing its archrival ...