Model Production Sharing Contract definition

Model Production Sharing Contract means the model contract as appears in Annex C, on the basis of which production sharing contracts for Area A should be concluded, as may be modified from time to time by the Ministerial Council in accordance with paragraph 1(c) of Article 6 of this Treaty;
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Model Production Sharing Contract means the model production sharing contract prepared by the National Petroleum Agency, and approved by the Government, to be used as the basis for negotiations between the National Petroleum Agency and Persons who have expressed an interest in becoming a Contractor;
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Model Production Sharing Contract means the model contract as appears in Annex C, on the basis of which production sharing
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Examples of Model Production Sharing Contract in a sentence

  • As a minimum requirement a draft contract based on the Model Production Sharing Contract shall be completed and lodged, and applications shall set out details of the work program and expenditure commitments, and the financial capability and technical knowledge and ability available to the applicant.

  • Such amendments or modifications shall have the same status as the Petroleum Mining Code and the Model Production Sharing Contract.

  • Instead, the requirements are set out in the Model Production Sharing Contract (2001) and the Model Exploration Study Agreement (2001).

  • Petroleum Sector Precedents: Model Production Sharing Contract, Section 12.10.

  • In addition to the Petroleum Fund Law, a Petroleum Law, Model Production Sharing Contract (PSC), and Petroleum Tax Law were adopted in 2005.

  • Contracts entered into between Contractors and the State shall be based on the Model Production Sharing Contract attached to this Law and will be an integral part of thesame.

  • The Petroleum Mining Code, in accordance with paragraph 1 (b) of Article 6 of this Treaty and the Model Production Sharing Contract, in accordance with paragraph 1 (c) of Article 6 of this Treaty, may also be amended or modified by decision of the Ministerial Council.

  • A Model Production Sharing Contract (MPSC) which is reviewed for every NELP round.

  • The company will commence petroleum operations not later than six months from the Effective Date of the contract, as defined in the Model Production Sharing Contract (MPSC).

  • Further, on reading of section 42 along with the Model Production Sharing Contract, it is not clear whether tax payer is eligible to claim deduction for exploration expenses (including survey expenditure) and drilling expense in the year of incurrence against other business income even though no commercial production has been started.

Related to Model Production Sharing Contract

  • Supply contract means a contract under which a lessor buys or leases goods to be leased.

  • Refined Products means gasoline, diesel fuel, jet fuel, asphalt and asphalt products, and other refined products of crude oil.

  • Clinical Supply Agreement shall have the meaning set forth in Section 7.2.

  • sales contract means a contract under which a trader transfers or agrees to transfer the ownership of goods to a consumer and the consumer pays or agrees to pay the price, including any contract that has both goods and services as its object. Conformity

  • Offtake Agreement means any refining, smelting, brokering, sale, marketing and/or processing agreement entered into by the Owner or its Affiliates with respect to Minerals produced from the Property;

  • Contract Quantity means the quantity of Gas to be delivered and taken as agreed to by the parties in a transaction.

  • Crude Oil means any liquid hydrocarbon mixture occurring naturally in the earth whether or not treated to render it suitable for transportation and includes:

  • Harvest batch means a specifically identified quantity of dried flower or trim, leaves, and other cannabis plant matter that is uniform in strain, harvested at the same time, and, if applicable, cultivated using the same pesticides and other agricultural chemicals, and harvested at the same time.

  • INTER-CONNECTION POINT/ DELIVERY/ METERING POINT means a single point at 220kV or above, where the power from the Project(s) is injected into the identified ISTS Substation (including the dedicated transmission line connecting the Projects with the substation system) as specified in the RfS document. Metering shall be done at this interconnection point where the power is injected into. For interconnection with grid and metering, the WPDs shall abide by the relevant CERC/ SERC Regulations, Grid Code and Central Electricity Authority (Installation and Operation of Meters) Regulations, 2006 as amended and revised from time to time.

  • Network Supply Point or "NSP" means any Point of Connection between:

  • Customer Contract means any written contract or agreement (other than trade contracts) between Seller and any of its customers (or under which Seller has rights) which has been entered into and signed by the parties thereto in connection with the publication of the Directories and corresponding provision of Directory Services.

  • fuel supplier means an entity supplying fuel to the market that is responsible for passing fuel through an excise duty point or, in the case of electricity or where no excise is due or where duly justified, any other relevant entity designated by a Member State;

  • Feedstock Gas means natural gas used as a raw material for its chemical properties in creating an end product.

  • Data Processing Equipment means any equipment, computer hardware, or computer software (and the lease or licensing agreements related thereto) other than Personal Computers, owned or leased by the Failed Bank at Bank Closing, which is, was, or could have been used by the Failed Bank in connection with data processing activities.

  • Product Group or “the Group” means a group of lotteries that has joined together to offer a product pursuant to the terms of the Multi-State Lottery Agreement and the Product Group’s own rules.

  • Distillery manufacturing license means a license issued in accordance with

  • Development Location Point means a single point selected by the Applicant on the proposed Development site that is located within 100 feet of a residential building existing or to be constructed as part of the proposed Development. For a Development which consists of Scattered Sites, this means a single point on the site with the most units that is located within 100 feet of a residential building existing or to be constructed as part of the proposed Development.

  • House dust mite product means a product whose label, packaging, or accompanying literature states that the product is suitable for use against house dust mites, but does not indicate that the product is suitable for use against ants, cockroaches, or other household crawling arthropods.

  • licensed water supplier means a company which is the holder for the time being of a water supply licence under Section 17A(1) of the 1991 Act(f);

  • Generation Interconnection Feasibility Study means a study conducted by the Transmission Provider (in coordination with the affected Transmission Owner(s)) in accordance with Tariff, Part IV, section 36.2.

  • Daily Contract Quantity or “DCQ” means the quantity of Gas as set out in Clause 4.1 herein.

  • Generation Interconnection Customer means an entity that submits an Interconnection Request to interconnect a new generation facility or to increase the capacity of an existing generation facility interconnected with the Transmission System in the PJM Region. Generation Interconnection Request:

  • Petroleum product means gasoline, gasoline−alcohol fuel blends, kerosene, fuel oil, burner oil, diesel fuel oil or used motor oil.

  • Mineral Products means the commercial end products derived from operating the Property as a mine:

  • mixed supply means two or more individual supplies of goods or services, or any combination thereof, made in conjunction with each other by a taxable person for a single price where such supply does not constitute a composite supply.

  • Feedstock means a solid waste that will readily decompose during the composting process including but not limited to yard waste, agricultural waste, animal waste, food scraps, animal carcasses, raw rendering material, and mixed solid waste.