Examples of Joint Venture Contracts in a sentence
It is strictly forbidden to celebrate Joint Venture Contracts between unauthorized companies to provide serviceson board Panamanian flagged vessels, including security personnel and weapons.
The Company has not in the last TWELVE (12) months received any notice of default in respect of any other party to the Joint Venture Contracts.
Oil producing Companies are liable to tax under the Petroleum Profit Tax Act CAP P13 LFN 2004 at the following rates: Joint Venture Contracts, Risks Service Contracts and Sales Risk Operations – First Five years 65.75 percent; subsequently 85 percent; production Sharing Contract (PSCs) – 50 percent of chargeable profit (mainly for deep off-shore exploration and prodcution).
It is strictly forbidden for approved PMSC to enter into Joint Venture Contracts with unauthorized companies to provide maritime security services on board Panamanian flagged vessels.
Therefore, production cost per barrel from PSCs could be reasoned as higher than production cost in JVs. Indeed, Ahmad (2014) found that non-Joint Venture Contracts spend twice as much as the Joint Venture Contracts to produce a barrel of crude oil in Nigeria.