Production Sharing Agreement Meaning In Illinois
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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.
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 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 Agreements (PSAs) are among the most common types of contractual arrangements for petroleum exploration and development.
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.
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.
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.
