Arbitration and dispute resolution
Any disputes, differences, or claims arising out of this contract or relating to same, or relating to the breach, termination...
Audit mechanisms - financial obligations
Subject to any other provisions of this contract, company shall permit Sonangol's duly authorized representatives and employees to have full...
Bonuses
Company shall pay to Sonangol, as a signature bonus, the sum of US$ [X] on the effective date.
Such signature bonus shall neither be recovered nor amortized by company.
Confidentiality
The government and company agree to maintain the confidentiality of this contract; provided, however, either party may, without the approval...
Environmental protections
In the course of activities provided for under this agreement, flaring of associated and/or non-associated gas, except short-term flaring necessary...
Governing law
This contract shall be governed by and construed in accordance with Angolan law.
Language
This contract has been prepared and signed in the Portuguese language which shall be the only official version for the...
Local procurement
Company and its subcontractor shall contract local contractors as long as their services are similar to those available on the...
Location
The location of the contract area is located in the description in Annex A and the map in Annex B
Other - financial/fiscal
The minimum exploration work obligations shall be secured by a financial guarantee. Such guarantee shall be given by the company...
Other - operational
Sonangol and the company group may sign a petroleum operations procedure document which will regulate and interpret the contents of...
Production Share - Cost Oil features (basis of calculation, limits on cost recovery - e.g. as % of revenue or production, capex uplift, etc.)
Company shall recover all exploration, development, production and administration and services expenditures incurred under this agreement by taking and freely...
Production Share - "Profit Oil features (triggers for variations in split - IRR, factor, production, etc .)
The total crude oil produced and saved in a quarter from each commercial discovery and its development area and not...
Stabilization
Without prejudice to other rights and obligations of the parties under the contract, in the event that any change in...
State agency, national company or ministry executing the document
Sociedade Nacional de Combustiveis de Angola - Unidade Económica Estatal (Sonangol, U.E.E)
Term
There shall be a production period for each development area which shall be 25 years from the date of commercial...
Training
Company shall be subject to the provisions of Decree No. 20/82 of 17 April 1982, and ancillary regulations regarding the...
Work and investment commitments
Within the initial exploration phase, company will conduct a seismic program covering [X] of seismic profiles.
Such seismic program will begin...
Country
Angola
Signature Year
1999
Resource
Hydrocarbons
Type of Contract
Concession Agreement
Open Contracting Identifier
ocds-591adf-2786162362
Disclosure Mode
Barrows Company
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