Arbitration and dispute resolution
Any dispute arising between the parties relating to the construction, meaning or effect of this contract or the rights or...
Audit mechanisms - financial obligations
The company shall be responsible for maintaining at an address within Namibia accounting records of all expenditure and receipts of...
Confidentiality
All petroleum data, information and reports obtained or prepared by the company in terms of this contract shall, so long...
Environmental impact assessment and management plan
The company shall cause a person or persons, approved by the government on account of their special knowledge of environmental...
Environmental monitoring
The company shall ensure: that petroleum operations are carried out in an environmentally acceptable and safe manner consistent with good...
Environmental protections
The company shall:
(a) conduct its petroleum operations in a manner likely to conserve the natural resources of Namibia and protect...
Governing law
This contract, the interpretation of same and any dispute arising under it shall be governed by and determined in accordance with the laws of the Republic of Namibia
Income tax: other
The company shall pay annually, for the benefit of the state revenue fund, a petroleum income tax referred to in...
Income tax: rate
The rate at which additional profits tax shall be levied on the company under section 21(b)(ii) of the Taxation Act...
Infrastructure
The company shall ensure that all equipment, materials, supplies, plant and installations used by the company, its contractors and subcontractors...
Local employment
In carrying out petroleum operations the company shall, to the maximum extent possible, employ Namibian citizens having appropriate qualifications.
The company...
Local procurement
The company shall:
(a) use and purchase goods supplied, produced and manufactured in Namibia whenever such goods can be obtained at...
Location
Contract area is located in the area described in Annexure 1 and in the map in Annexure 2
Other - operational
The company may, at the government's choice, be required to sell crude oil in Namibia in order to satisfy Namibia's...
Restrictions on transactions with affiliated parties
Material purchased from or sold to affiliated companies of the company or transferred to or from activities of the company...
Royalties
Subject to the provisions of the Petroleum Act, the company shall pay quarterly on or before the last day of...
Social/human rights impact assessment and management plan
The company shall cause a person or persons, approved by the government on account of their special knowledge of environmental...
State agency, national company or ministry executing the document
State participation
In the event that the parties agree on participation by National Petroleum Corporation of Namibia in the petroleum operations, the terms of such participation shall be set out here.
Surface fees or rent
Subject to the provisions of the petroleum act, the company shall pay on the date of the issue of the...
Term
Subject to the provisions of the Petroleum Act, the exploration license granted to the company shall be for an initial...
Training
During each year of the exploration license or any renewal of same, the company shall spend a sum which is...
Work and investment commitments
The company shall, during each of the periods referred to in paragraphs (a), (b) and (c) below into which its...
Country
Namibia
Signature Year
1998
Resource
Hydrocarbons
Type of Contract
Concession Agreement
Open Contracting Identifier
ocds-591adf-0557496060
Disclosure Mode
El Source Book
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