Production Sharing Agreement Meaning In Fulton
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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.
In a production sharing contract (“PSC”), the host country's government awards to an oil company (or group of companies, typically called the Contractor) the rights to explore in a specified area and, following discovery of hydrocarbons in the area, the right to produce the discovered resources.
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.
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.
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.
Production-Sharing Agreements (PSAs) are among the most common types of contractual arrangements for petroleum exploration and development.
A production services agreement is a contract between an investor, distributor, or lead-producer who wants to hire a production company to execute on different aspects of producing a film, television program, commercial, or other media production.
Types of agreements under Indian Contract Act, 1872 Valid agreement. Section 11 of the Indian Contract Act, 1872. Void agreement. Section 24 of the Indian Contract Act, 1872. Wagering Agreements. Contingent Agreement. Voidable agreement. Express and implied agreements. Illegal Agreements.
Production sharing agreement (hereinafter referred to as Agreement) shall be an agreement under which the Russian Federation shall grant the participant of business activities (hereinafter referred to as Investor) an exclusive right for exploration, development and production of mineral raw materials on the subsoil ...
