Arbitration and dispute resolution
If the parties are unable to resolve a dispute amicably after 60 days, they may submit the dispute to arbitration...
Audit mechanisms - financial obligations
ONHYM has the right to control and audit expenditures relating to the Contractor Group's Exploration Works during the Initial Validity Period and any Extension Periods.
Bonuses
Subsequent to the declaration of a hydrocarbon deposit in the designated Area of Interest and within 30 days of the...
Confidentiality
All information gathered as a result of Agreement operations is treated as confidential and neither party may divulge such information...
Date of issue of title/permit
The agreement is effective on the date it is approved by joint order issued by the Ministers in charge of Energy and Finance respectively.
Environmental impact assessment and management plan
In conducting Exploration and for Development and Expliotation, the parties must comply with rules regulating environmental safety and protection in...
Governing law
The Agreement shall be governed and interpreted in conformity with Moroccan law.
Income tax: exemptions
The parties are exempt from corporate income tax for 10 consecutive years for each Exploitation Concession starting from the respective commencement date of production.
Income tax: rate
Corporate income tax shall be calculated according to Market Prices determined in article 6 of the Code General des Impots.
Language
The Agreement is signed in both French and English with the French version prevailing in the case of difference of interpretation.
Location
Essaouira Offshore as mapped out in Appendix 2. The Contract Area totals 11, 730.8 km2. All regions bounded by coordinates in Appendix 2.
Map of location area.
Name of company executing document
Kosmos Energy Deepwater Morocco and Canamens Energy Morocco SARL
Name of field, block, deposit or site
Essaouira Offshore I, Essaouira Offshore II, Essaouira Offshore III, Essaouira Offshore IV, Essaouira Offshore V, Essaouira Offshore VII, Essaouira Offshore VII (collectively "Essaouira Offshore")
Other - operational
The parties must sign a Lifting Agreement outlining, among other terms, the parties' production share in the Crude oil. The...
Resource(s)
Naturally occurring liquid, gaseous or solid hydrocarbons including crude oil and natural gas (but not including bituminous shale)
Royalties
For exploitation concessions located onshore or offshore at a water depth less than or equal to 200 metres (i) production...
Stabilization
Where regulatory changes adversely affect agreed economic terms and conditions, the terms of the Agreement will be adjusted to compensate...
State agency, national company or ministry executing the document
The Office National des Hydrocarbures et des mines ("ONHYM") acting on behalf of the Kingdom of Morocco
State participation
The State retains a 25% indivisible percentage interest while Kosmos retains a 37.5% indivisible percentage interest and Canamens retains a...
Term
25 year maximum term and, where the parties jointly apply for renewal, the term may be renewed once - for a period not exceeding 10 years.
Training
The Contractor Group must make a $50,000 annual contribution for ONHYM staff training. The contribution amount shall increase by $25,000...
Work and investment commitments
The overall duration of the Exploration period will be 8 years divided into 3 phases of: an Initial Period of...
Country
Morocco
Signature Year
2011
Resource
Hydrocarbons
Type of Contract
Concession Agreement
Open Contracting Identifier
ocds-591adf-9352687684
Disclosure Mode
Company
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