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First implemented in Malaysia, the risk sharing contracts (RSC) departs from the production sharing contract (PSC) first introduced in 1976 and most recently revised last year as the enhanced oil recovery (EOR) PSC which ramps up recovery rate from 26% to 40%. As a performance-based agreement, it is developed in Malaysia for the Malaysian ...
Production shares. The body of a production sharing contract layouts the production share between the contractor(s) and the state or its state-owned oil company. Typically, most of the early production will be set aside for recovering the costs incurred during development by the contractor (cost oil), while the state receive an increasing share ...
In case of a production sharing agreement, PSA, the licensee will take all development costs and have this capital recovered by "cost oil". "Profit oil" will be shared by licensee and the state. [12] The licensee may be one oil company, or often a group of companies sharing the risks, costs and profit in a partnership, consortium or joint venture.
* Indonesia's government signed on Monday a production sharing contract with units of ConocoPhillips, PT Pertamina and Repsol SA for the Corridor natural gas blocks, Energy and Mineral Resources ...
The oil and gas industry operates in countries throughout the world in accordance with a number of different types of agreements. These agreements generally fall into one of four categories (or a combination of the categories): risk agreements, concessions, production sharing agreements (PSAs, also known as production sharing contracts, PSCs) and service contracts.
A survey of factory managers in China released Wednesday shows manufacturing contracted in January for a fourth straight month, reflecting weak demand and a faltering recovery in the world’s ...
Energy Recovery's PX can reduce energy use in Sea Water Reverse Osmosis facilities by up to 60%. Price Action: ERII shares are trading higher by 2.31% at $21.03 on the last check Thursday. See ...
Production Sharing contract (PSA) A PSA is more complex than a Tax/Royalty system - The companies bid on the percentage of the production that the host government receives (this may be variable with the oil price), There is often also participation by the Government owned National Oil Company (NOC). There are also various bonuses to be paid.