Natural Gas. The production of the first 300 million cubic meters from an Exploitation Concession is exempt from the payment of royalty. Any production in excess of 300 million cubic meters from an Exploitation Concession shall be subject to royalty at the rate of five percent (5%).
Appears in 6 contracts
Samples: Petroleum Agreement, Petroleum Agreement (Kosmos Energy Ltd.), Petroleum Agreement (Kosmos Energy Ltd.)