Definition Concession is a form of contract in the oil and gas industry between a State and a company to explore and develop these resources. Comments Oil and gas concessions are very similar to mining concessions considering that in all countries, except USA, and few others the underground belongs to (more…)
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Concession
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Technical Service Contracts
Definition Technical Service Contract, or TSC, refers to an oil and gas exploration and production contract awarded by a producing country to the International Oil Company (IOC) bidding with the lowest remuneration fees per barrel (RFB) produced as reward of its capital and operational expenditures. Comments Most of the exploration (more…)
Read moreTags: capital expenditure, crude oil, Exploration & Production, ExxonMobil, ExxonMobil West Qurna1, gas, gas pipeline, International oil company (IOC), Iraq, Iraq Government, joint venture, natural gas, ogp projects, OGP projects pursuit, Oil & Gas, Oil & Gas and Petrochemical, Oil & Gas and Petrochemical capital expenditures, Oil & Gas and Petrochemical Contract, Oil & Gas and Petrochemical glossary, Oil & Gas and Petrochemical Project, oil and gas, Oil and gas Concessions, Oil news, Oil&Gas, operating costs, Producing country, Production Sharing Contract (PSC), Remuneration Fee per Barrel (RFB), Shell, Technical Services Contrcat (TSC), upstream, West Qurna Phase 1
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