Arbitration and dispute resolution
Any dispute, controversy or claim arising out of or relating to this contract, or breach, termination or invalidity thereof between...
Audit mechanisms - financial obligations
Books of account and other books and records shall be available at all reasonable times for inspection by duly authorized representatives of the government.
Bonuses
Quadra shall pay to Ganoub El-Wadi:
- The sum of USD $2,500,000 as a production bonus when the daily production...
Income tax: other
Ganoub El-Wadi shall assume, pay and discharge, in the name and on behalf of Quadra, Quadra’s Egyptian income tax out...
Language
The Arabic version of this contract shall be referred to in construing or interpreting this contract in the courts of...
Local employment
Quadra Egypt or the operating company created by the parties to this contract (“the operating company”) shall each select their...
Local procurement
Quadra shall:
- Give priority to local contractors and sub-contractors, as long as their performance is comparable with international performance and the...
Name and/or composition of the company created
On commercial discovery, Ganoub El-Wadi and Quadra Egypt may form in Egypt an operating company pursuant to this article and...
Name of company executing document
Ganoub El-Wadi Holding Petroleum and Quadra Egypt Limited
Other - financial/fiscal
Except for income taxes, Ganoub El-Wadi and Quadra shall be exempted from all taxes and duties, whether imposed by the...
Production Share - Cost Oil features (basis of calculation, limits on cost recovery - e.g. as % of revenue or production, capex uplift, etc.)
Quadra shall recover quarterly all costs, expenses and expenditures in respect of all the exploration, development and related operations up...
Production Share - "Profit Oil features (triggers for variations in split - IRR, factor, production, etc .)
The remaining 60% of the petroleum shall be divided between Ganoub El-Wadi and the Quadra according to the following shares:...
Stabilization
In case of changes in existing legislation or regulations which take place after the effective date, and which significantly affect...
Work and investment commitments
Quadra shall commence exploration operations not later than 6 months after the effective date. Quadra shall spend a rninimum...
Country
Egypt
Signature Year
2004
Resource
Hydrocarbons
Type of Contract
Concession Agreement
Open Contracting Identifier
ocds-591adf-6662917447
Disclosure Mode
Security exchange
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