Arbitration and dispute resolution
In the event of a dispute between Kosmos and the government concerning the interpretation or the application of the...
Audit mechanisms - financial obligations
The Minister in Charge of Crude Hydrocarbons, after having informed Kosmos in writing, may have the records and books of...
Bonuses
Kosmos shall pay to the government a signature bonus in the amount of $1,000,000 within 30 days following the effective...
Confidentiality
Kosmos and the government undertake to consider as confidential and to not communicate to third parties or to publish data...
Environmental protections
- Kosmos must take all necessary measures for the protection of the environment during the course of petroleum operations.
- For...
Governing law
This contract is governed by the laws and regulations of Mauritania, supplemented by general principles of the laws of international commerce.
Income tax: rate
Kosmos shall be subject to the Industrial and Commercial Income Tax levied on the net profits earned in relation to...
Local employment
From the beginning of operations, Kosmos undertakes to ensure the employment on a priority basis, with equal qualification, of Mauritanian...
Local procurement
Kosmos commits to granting preference to Mauritanian enterprises and products, on equivalent conditions in terms of price, quantity, quality, terms...
Production Share - Cost Oil features (basis of calculation, limits on cost recovery - e.g. as % of revenue or production, capex uplift, etc.)
For the recovery of petroleum costs, Kosmos shall freely for each exploitation authorization each quarter a share of total production...
Production Share - "Profit Oil features (triggers for variations in split - IRR, factor, production, etc .)
The volume of hydrocarbons remaining for each quarter after Kosmos has taken from total production the share necessary to the...
Stabilization
No legislative or regulatory provision occurring after the effective date may be applied to Kosmos which would as a direct...
State participation
On the effective date, Mauritania shall acquire through the National Enterprise (Société Mauritanienne des Hydrocarbures) a carried interest of 10%...
Surface fees or rent
Kosmos shall pay to the government the following surface rentals:
a) $2 per square kilometer and per year during the first...
Work and investment commitments
- During the first phase of the exploration period of 4 years, Kosmos undertakes to acquire 2,000 km 2D seismic....
Country
Mauritania
Signature Year
2012
Resource
Hydrocarbons
Type of Contract
Production or Profit Sharing Agreement
Open Contracting Identifier
ocds-591adf-3970511656
Disclosure Mode
Security exchange
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