Offshore Oil and Gas Projects: Regulatory & Contractual Issues

Production sharing contracts or Licences

• A government has to grant a private party the right to explore and produce petroleum.

– origin

– nature

– sources

• This is done either though a production sharing agreement or a licence (and sometimes confusingly both)

• In August 2010, the Lebanese Parliament ratified a law providing for production sharing contracts

• Another possibility is the service agreements (“buy-back”)

– where there is a fixed return

• The government gets, for the grant of the right, royalty and other taxes

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#الاتفاقات #العقود #التراخيص #اللوائح #contracts #conventions #agreements #licensing #regulations