Dear Editor,
It is a standard practice in some parts of the world like many fiscal regimes in the Middle East and African oil-producing countries to divide the periods of the Production Sharing Agreement (PSA) into stages: (1) Exploration phase that is most likely divided by two periods; first being exploration period of prospecting and, a second exploration period with each having specific minimum exploration obligations and expenditures which must be conducted within a specified timeframe.
The article Our Production Sharing Agreement should have been in two parts: exploration and development appeared first on Stabroek News.
