Arbitration and dispute resolution
[FIRST PAGE OF ARBITRATION CLAUSE IS MISSING - PG 74]Any arbitration procedure initiated in reference to the agreement will be...
Audit mechanisms - financial obligations
The Minister of Energy and GNPC may access all sites and offices of Contractor to inspect all buildings and installations...
Confidentiality
Information disclosed by Contractor to the Ministry of Energy and GNPC, including reports, studies and analysis, will be treated as...
Date of issue of title/permit
The agreement was executed on 22/07/2004, but only becomes effective with the approval of the Parliament of Ghana. The date of approval is not set out in the agreement.
Environmental impact assessment and management plan
Once a field with commercialy relevant resources is discovered and identified, Contractor will submit to the Ministry of Energy a...
Environmental protections
Contractor will provide a system for disposal of water and waste oil, oil base mud and cuttings in accordance with...
Income tax: exemptions
Contractor will not pay any taxes for petroleum exports. No taxes will be due for imports of plant, equipments and...
Income tax: other
GNPC will make the sufficient arrangements to ensure that the Contractor has the option to fully depreciate in 5 years...
Income tax: rate
35%, calculated in accordance with the Petroleum Income Tax Law of 1987, or at such lower rate as may be applicable under any amended Petroleum Income Tax Law
Infrastructure
GNPC must procure access for the Contractor to infrastructure for transporting or processing petroleum, owned by the State or GNPC...
Local employment
Ghanaian nationals will be engaged, as soon as reasonably possible, in employment at all levels in the petroleum industry, including...
Local procurement
Contractor shall give preference to materials, goods and services produced in Ghana, including shipping services, if such materials, services and...
Location
Offshore blocks comprising an area of 1957.05 square kilometers (or 481,9598,926 acres) based on a WGS-84 spheriod and UTM projection...
Name of company executing document
Kosmos Energy Ghana HC and E.O. Group
Other - financial/fiscal
Contractor is to pay to the State an additional oil entitlement (AOE) in accordance with the Petroleum Law and the...
Other - operational
In case the shares of crude oil which the State and GNPC are entitled to receive are not sufficient to...
Parent company or affiliates outside of country
Kosmos Energy Ghana HC, a Cayman Islands company with offices at 8401 N. Central Expressway, suite 280, Dallas, Texas 75225, USA.
Resource(s)
Crude oil (hydrocarbons which are liquid at 14.65 psia pressure and sixty degrees Farenheint, and includes condensates and distillates obtained...
Restrictions on transactions with affiliated parties
"Arms length commercial transactions" mean sales to parties independent of the seller, which do not involve exchange or barter of...
Royalties
Seven and one half percent (7.5%) of the gross production of crude oil will be delivered to the State as...
Stabilization
No other taxes, fees or duties will be imposed to Contractor aside from those expressly listed in Article 12 of...
State agency, national company or ministry executing the document
Government of the Republic of Ghana, represented by the Minister of Energy, and Ghana National Petroleum Corporation (public corporation)
State participation
The State has no equity participation in the Contractor companies, but GNPC has a 10% participating interest in all operations....
Surface fees or rent
Contractor will also be responsible for the payment of surface rental fees to the State, per square kilometre of the...
Term
The agreement shall be in force and effect for a term of 30 years, counted as from its effective date....
Work and investment commitments
Exploration operations will start no later than 75 days after the date the agreement is considered to be in force...
Year of issue of title/permit
The agreement was executed on 22/07/2004, but only becomes effective with the approval of the Parliament of Ghana. The date of approval is not set out in the agreement.
Country
Ghana
Signature Year
2004
Resource
Hydrocarbons
Type of Contract
Concession Agreement
Open Contracting Identifier
ocds-591adf-1774464193
Disclosure Mode
Security exchange
Kosmos Energy Ghana HC, E.O. Group, West Cape Three Points ...
More from
More for