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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.
* 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.
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.
The Company has a 50 percent working interest (66.67 percent paying interest) in the Atrush Block production sharing contract. The Atrush field was first discovered in 2011, and oil production started in 2017. Gross production in 2022 averaged 35,885 barrels of oil per day.
CCC’s core business is delivered under the 1956 Canada-U.S. Defence Production Sharing Agreement (DPSA), which governs procurement of Canadian products and services by the U.S. Department of Defense (U.S. DoD). CCC administers U.S. defence purchases above US$250,000 [5] and has a similar agreement with NASA. [6]
Limitations on packaging fees and agency ownership of production entities got most of the press coverage during […] Information Sharing Required By WGA’s Historic Agency Franchise Deal To Play ...
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