Arbitration and dispute resolution
Contractual disputes between the parties that cannot be settled amicably shall be settled by arbitration. Either party shall appoint their...
Assignment or transfer
The contractors may assign their rights in this contract, subject to the prior approval of the Office of Energy Affairs...
Audit mechanisms - financial obligations
The meters and measuring equipment as well as the exploration and production sites and operations shall be open to inspection...
Cancellation or termination
This contract shall be terminated under the following: (1) per Sec. 3.1; (2) the term and its extension ends...
Governing law
This contract was executed pursuant to Section 2, Article XII of the 1987 Constitution, and Presidential Decree No. 87, entitled...
Hardship clause or force majeure
Failures and delays caused by force majeure shall be excused to the extent attributable to such. The deadline to perform...
Infrastructure
The contractor shall acquire only such assets that it needs for petroleum operations. All movable units shall remain the...
Local employment
The contractor shall prioritize qualified personnel in the municipality or province where the exploration or production operations are located. -...
Name of company executing document
Occidental, Philippines, Inc. and Shell Exploration B.V.
Other - financial/fiscal
The contractor shall pay rental fees at Php49.00 per hectare per year on the 12.5% retained area. Exploration costs on...
Production Share - "Profit Oil features (triggers for variations in split - IRR, factor, production, etc .)
The contractor shall get 40% share from the net proceeds of the petroleum operations. - Sec. 7.4
Renewal or extension of term
The exploration period may be extended for 3 years if: (a) the contractor has not been in default of its...
Signatories, company
Carlos A. Contreras, Vice President and Resident Manager, Occidental Philippines, Inc.
W.A. Loader, Chief Executive, Shell Companies in the Philippines, Shell Exploration B.V.
Signatories, State
Corazon C. Aquino, President, Republic of the Philippines
State agency, national company or ministry executing the document
Training
The contractor shall adopt and implement a training program for Filipino personnel for technical and specialized positions occupied by foreign...
Type of contract
This is a service contract under Sec. 7 of P.D. 87, entitled, Oil Exploration and Development Act of 1972. - Sec. 1.1
Work and investment commitments
The contractor shall start the first exploratory well within 365 days from effective date of this contract. It commits to...
Country
Philippines
Signature Year
1990
Resource
Hydrocarbons
Type of Contract
Service Contract
Open Contracting Identifier
ocds-591adf-6297501032
Disclosure Mode
Government
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