Gulf Oil and Gas accountACCOUNT

PA Resources’ Improved Fiscal Terms Formally Approved

Source: www.gulfoilandgas.com 3/9/2011, Location: Africa

Improved fiscal terms for the production sharing contract for the Azurite Field and the Mer Profonde Sud licence in the Republic of Congo has been formally approved.

The amendment gives PA Resources a larger net entitlement share of Azurite field revenues and applies retroactively from 1 October 2010.

The amendment on improved fiscal terms was signed between the authorities in the Republic of Congo and all the partners in the production sharing contract for the Mer Profonde Sud license (MPS) and the Azurite field; Murphy West Africa Ltd (working interest 50%), PA Resources (W.I. 35%) and Société Nationale Petroles du Congo (W.I. 15%). The amendment has now received the final formal approval by the Parliament in the Republic of Congo and has been sanctioned by a Presidential decree.

The amendment is valid for the Azurite field and the MPS-license. The improved fiscal terms give PA Resources a larger net entitlement share of the Azurite field’s production and revenues. ListenRead phonetically

· Net entitlement production refers to barrels of oil attributable to PA Resources under the terms of the production sharing contract and which can be equated to ‘post tax’ barrels.

Acquisitions and Divestitures News in Congo >>

United Kingdom >>  6/5/2020 - Highlights
- Amended terms for the acquisition of the Andrew Area and Shearwater assets (together, the “BP Acquisitions”) agreed in principle
Brazil >>  6/4/2020 - Petrobras informs that it has started the opportunity disclosure stage (teaser), regarding the sale of its stakes in five power generation companies: ...

Nigeria >>  6/4/2020 - Canadian Overseas Petroleum Limited, an international oil and gas exploration and development company focused on offshore Africa is pleased to announc...
Australia >>  6/3/2020 - Shell plc is considering a sale of a 26.25% interest in the Queensland Curtis LNG (QCLNG) Common Facilities – a multibillion dollar investment opportu...

Australia >>  6/1/2020 - Oilex Ltd and Armour Energy Limited have agreed that the date for the satisfaction of the conditions precedent for the proposed sale of all of its int...
Brazil >>  6/1/2020 - Petrobras, following up on the release disclosed on 05/04/2020, announces the beginning of the non-binding phase regarding the sale of its stake (35...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Congo Oil & Gas 1 >>  2 | 3 |

Oil & Gas Projects in Congo >>

More News

Related Links

AO BJ BW CD CG CI CM DZ EG EH ET GA GH GM GN GQ GW KE LR LY MA MG ML MR MZ NA NE NG RW SC SD SL SN SO ST SZ TD TN TZ UG ZA ZM
Gulf Oil and Gas
Copyright © 2020 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.