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DANMARKS STØRSTE INVESTORSITE MED DEBAT, CHAT OG NYHEDER

Kurdistan Oil and Gas Law


14990 JCBN 9/7 2009 16:00
Oversigt

Besluttede mig for at grave lidt, istedet for at kigge på falske quotes på Hegnar.

Så har fundet nogle facts direkte fra KRG dem selv.

* Royalty, at a rate of ten percent (10%), and paid in accordance with Article 41 of this Law

** (Article 41:) The Minister, after obtaining the approval of the Regional Council, may require from time to time that the Royalty be paid in kind or in cash, and the Royalty shall be paid quarterly or monthly as provided for in the Petroleum Contract.

* Cost recovery from a portion of production after deduction of the Royalty, to a maximum not exceeding forty-five percent (45%) for Crude Oil; and not exceeding sixty percent (60%) for Natural Gas.

* Production sharing from remaining production after Royalty and allowable cost recovery according to a formula which takes into account cumulative revenues and cumulative petroleum costs and provides the Contractor with reasonable returns.

* A commitment to the payment of an agreed amount into an Environment Fund, to be administered by the Regional Government for the exclusive benefit of the natural environment of the Region.

Og her er så link, hvor der står en masse andet:
http://www.krg.org/uploads/documents/Kurdistan%20Oil%20and%20Gas%20Law%20English__2007_09_06_h14m0s42.pdf

Og så for lige at skrive lidt mere om Royalty:

ARTICLE 24 – ROYALTY
24.1 The CONTRACTOR shall pay to the GOVERNMENT a portion of Petroleum produced and saved from the Contract Area, as provided in this Article 24 (the "Royalty”).

24.2 The Royalty shall be applied on all Petroleum produced and saved from the Contract Area which is Crude Oil or Non-Associated Natural Gas, except for Petroleum used in Petroleum Operations, re-injected in a Petroleum Field, lost, flared or for Petroleum 55/115
that cannot be used or sold and such Crude Oil and Non-Associated Natural Gas (excluding the excepted Petroleum) shall be referred to collectively as “Export Petroleum” and separately and respectively as “Export Crude Oil” and “Export Non-Associated Natural Gas”.

24.3 If payable in cash, the amount of the Royalty calculated by applying the Royalty rates provided under Article 24.4 shall be paid by the CONTRACTOR as directed by the GOVERNMENT, in accordance with Article 24.7. If payable in kind, the quantity of Export Petroleum corresponding to the Royalty and calculated by applying the Royalty rates provided under Article 24.4 shall be delivered in kind by the CONTRACTOR to the GOVERNMENT at the Delivery Point. Title and risk of loss of the Royalty paid in kind shall be transferred at the
Delivery Point. Unless the GOVERNMENT requires the Royalty to be paid in kind, by giving the CONTRACTOR not less than ninety (90) days prior written notice prior to the commencement of the relevant Quarter, the GOVERNMENT shall be deemed to have elected to receive the Royalty in full and in cash for the relevant Quarter.

24.4 The Royalty due on any Export Petroleum produced and saved in the Contract Area shall be determined daily by applying the following relevant Royalty rate, to the Export Crude Oil or to the Export Non-Associated Natural Gas (as the case may be) produced and saved on that day:

(a) For Export Crude Oil:
the Royalty rate for Export Crude Oil shall be ten per cent (10%), which, for the avoidance of doubt, shall apply regardless of the gravity of the oil;

Den quote er taget fra KRG's "Production Sharing Contract".

http://www.krg.org/uploads/documents/KRG_Model_PSC_20071112__2008_07_17_h15m59s45.pdf



9/7 2009 16:09 014991



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