Production Sharing Agreement Meaning In Pima
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Production-Sharing Agreements (PSAs) are among the most common types of contractual arrangements for petroleum exploration and development.
An agreement to share the production or extraction costs between two governments, a government and a corporation, or a corporation and an individual.
Production sharing agreement (PSA) is a contract between one or more investors and the government in which rights to prospection, exploration and extraction of mineral resources from a specific area over a specified period of time are determined.
The contractual form changes between and within countries but the most common contracts are concession contracts and production sharing agreement (PSA). The concession contract is simplified to a royalty rate while the PSA is based to the share of the extraction allocated to the costs reimbursement.
Production agreement is a legally binding contract setting out the terms and conditions for the production of goods or services between two parties at a place.
Production sharing agreement (PSA) is a contract between one or more investors and the government in which rights to prospection, exploration and extraction of mineral resources from a specific area over a specified period of time are determined.
The Production Sharing Agreement is a commercial and regulatory instrument and allows the host country to regulate operations without the need for adopting specific regulations within its national legislation.
A production sharing contract (PSC) is a contractual relationship between a host government and a private sector participant ('investor') whereby the government contracts with the investor to carry out oil and gas exploration and production activities (E&P activities) in a defined area for a defined period of time.
