Category Archives: Contracts

Real Time Cost Monitoring and Audit Under The Production Sharing Agreement (PSA) In Uganda’s Petroleum Sector

A number of fiscal regimes are applied in the Petroleum industry by different countries. It is difficult to evaluate one system over another as countries have specific conditions within them that favor one over another. Uganda as a country employs Production Sharing Agreements. Under these agreements, a company is licensed to undertake all risks involved...
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Norwegian Audit Office conducts training in fiscal regimes

At the end of May, a group of colleagues at the Office of the Auditor General of Norway gathered for a 2-day workshop in fiscal regimes. The course drew on experience from Norway as well as Sierra Leone, Uganda, Zambia and Myanmar, and covered different models for calculating revenue from the extractives sector. Through interactive...
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A new contractual model is used in the Ecuadorian oil & gas industry for the development of crude fields through private investment

With the ongoing oil crisis, the Ecuadorian State has develop new ways to get financing from exploration and exploitation of crude blocks in the Amazon; resulting in a new type of contract which has raised criticism for its legality. However, with the General State Budget depending mainly of that resource,...

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Fiscal Regimes in the Petroleum Sector

Countries that are blessed with petroleum resources must try to manage their wealth in the best way possible. Doing so often means allowing international oil companies (IOCs) to explore, develop and operate oil fields, because they have the technical know-how to extract the resource more efficiently and effectively than the government can do...

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