Common Contracts
1 similar Qualified Enhanced Oil Recovery Project Agreement contracts
ContractQualified Enhanced Oil Recovery Project Agreement • January 18th, 2020
qualified enhanced oil recovery project is im- plemented. In 1992, P and Q jointly purchase a nitrogen plant to supply the tertiary injectant used in the project. P and Q claim the credit for their respective costs for the plant. In 1994, X, a corporation unrelated to P or Q, purchases the nitrogen plant and en- ters into an agreement to sell nitrogen to P and Q. Because this transaction duplicates or otherwise unreasonably increases the credit, the credit is not allowable for the amounts incurred by P and Q for the nitrogen pur- chased from X.
