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Far East Energy (Bermuda), Ltd., Enhong and Laochang Area, Amendment, PSA, 2011
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  • ocds-591adf-3670075937
  • November 03, 2015
  • English
  • China
  • China United Coalbed Methane Corporation Ltd
  • December 31, 2011
  • Company-State Contract
  • Contract Amendment Production or Profit Sharing Agreement
  • Hydrocarbons
Key Clauses
  • Arbitration and dispute resolution
  • Country
  • Date of ratification
  • Environmental protections
  • Local employment
View all Key Clauses
Company
  • Far East Energy (Bermuda), Ltd.
  • Bermuda
  • https://opencorporates.co...
  • -
  • -
  • -
  • -
  • -
  • No
Associated Documents
Far East Energy (Bermuda), Ltd., Enhong and Laochang Area, Amendment, PSA, 2007   (Main Contract)
Far East Energy (Bermuda), Ltd., Enhong and Laochang Area, Amendment, PSA, 2009
CONCESSION / LICENSE AND PROJECT
  • Enhong Area; Laochang Area
  • -
  • Enhong and Laochang Area
  • -
Source
  • https://www.sec.gov/Archives/edgar/data/1124024/00...
  • Security exchange
13 Key Clauses
  • General
  • Environment
  • Social
  • Operations
  • Legal Rules
General
Country
The People's Republic of China
Page 1 ( Preamble )
Date of ratification
31/12/2011
Page 1 ( Preamble )
Location
Map of Enhong contract area
Page 15 ( Annex 1 ) , Page 16 ( Annex 1 )
Name of company executing document
Far East Energy (Bermuda), Ltd
Page 1 ( Preamble )
Name of field, block, deposit or site
Enhong and Laochang Area, Yannan Pronvince
Page 1 ( Front page )
Resource(s)
Coalbed Methane
Page 1 ( Front page )
State agency, national company or ministry executing the document
China United Coalbed Methane Corporation Ltd
Page 1 ( Preamble )
Type of contract
Modification Agreement for Production Sharing Agreement
Page 1 ( Front page )
Environment
Environmental protections
The operator shall conduct regular environmental, health and safety audits of systems, facilities, seismic, drilling, and production operations as determined by the joint management committee to ensure compliance with operator’s and industry standards. All costs for such regular audits shall be charged to the joint account.
Page 6 ( Art. 14 )
Social
Local employment
The contractor may give preference to the employment of Chinese personnel in the performance of the coalbed methane (CBM) operations in accordance with relevant regulations. For this purpose, the contractor may submit in advance to China united coalbed methane corporation ltd (CUCBM) and the joint management committee (JMC) respectively a plan for the employment of Chinese personnel listing all the posts and number of the persons involved. CUCBM shall, at the request of the contractor and in accordance with the plan, provide or assist in recruiting Chinese employee candidates for such employment. The contractor shall, as the CBM Operations require, with the approval of CUCBM and JMC, revise the training and employment plan to make the plan the most efficient and economical for CBM operations. For the performance of CBM operations, the contractor may have the obligation to employ competent Chinese personnel and to employ those who have become qualified after having being trained in accordance with the training program. The contractor may give preference in employing the Chinese Personnel who have participated in the training program provided by the contractor.
Page 10 ( Art. 24 )
Local procurement
Chinese goods, equipment and service, provided that they are competitive in terms of price quality and terms of delivery.
Page 10 ( Art. 23 )
Operations
Work and investment commitments
During the second phase of the exploration period, Far East Energy shall drill 8 well, and expend at least the U.S. dollar equivalent to 4.85 million.
Page 5 ( Art. 6.2.2 )
Legal Rules
Arbitration and dispute resolution
Any dispute mentioned, including without limitation disputes arising under Art. 27.2, that has not been settled through such consultation within 60 days after the dispute arises shall be settled through arbitration. If agreed upon by the parties, such dispute shall be referred to arbitration conducted by the China International Economic and Trade Arbitration Commission (“CIETAC”) in accordance with the arbitration proceeding rules. If the parties fail to reach an agreement on CIETAC arbitration within 60 days after a Party has requested in writing that a dispute be referred to arbitration, at the election of either Party, the dispute shall be finally settled by arbitration in accordance with the rules of the Hong Kong International Arbitration Centre (“HKIAC”). There shall be 3 arbitrators and the location of the arbitration shall be at HKIAC in Hong Kong.
Page 12 ( Art. 32 )

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