What is Concession used in Oil & Gas Specific Terms?
سئل 3 أشهر، 3 أسابيع منذ | شوهد 153مرة
   اطرح سؤالك
0

How does the concept of "concession" in the oil and gas industry differ from its general usage in other sectors, particularly in terms of its legal framework, ownership rights, and the interplay between the government and private entities involved in resource extraction?

 concession
سئل يوليو 28, 2024, 9:40 ص
20
drolend
0 0 شارات ذهبية 0 شارات فضية 0 شارات برونزية
إنشاء تعليق على سؤال
1 إجابة (اجابات)
0

In the Oil & Gas industry, "concession" refers to a contractual agreement between a government and an oil and gas company, granting the company the right to explore for, develop, and produce oil and gas within a specific geographical area.

Here's a breakdown:

  • Government: The granting authority, typically a national or regional government, holds the rights to the oil and gas resources within its territory.
  • Oil and Gas Company: The entity granted the rights to explore, develop, and produce.
  • Geographical Area: A specific area defined by the concession agreement, often with defined boundaries and geological characteristics.
  • Rights: The concession typically grants the company various rights, including:
    • Exploration: Conducting seismic surveys, drilling exploratory wells, and gathering geological data.
    • Development: Building infrastructure (pipelines, processing facilities, etc.) and preparing for production.
    • Production: Extracting and selling oil and gas from the designated area.
  • Terms and Conditions: The concession agreement outlines specific terms and conditions, including:
    • Duration: The length of time the concession agreement is valid.
    • Royalty: A percentage of the oil and gas produced that must be paid to the government.
    • Taxes: Other taxes and fees that may be levied.
    • Environmental Regulations: Standards for environmental protection and responsible operations.

Important Notes:

  • Concessions are a primary legal framework for oil and gas exploration and production worldwide.
  • Terms and conditions vary significantly between countries and regions.
  • Concessions can be controversial, with concerns regarding environmental impacts, revenue sharing, and national sovereignty.

Example:

A company receives a concession to explore for oil and gas in a specific area of a country. The concession agreement grants the company the right to explore for 10 years, develop for 5 years, and produce for 25 years. The company must pay a 10% royalty to the government on all oil and gas produced.

By understanding the concept of "concession" in the Oil & Gas industry, you gain insight into the complex legal and regulatory framework governing oil and gas exploration and production activities worldwide.

اجب يوليو 28, 2024, 9:40 ص
35
valdout39
0 0 شارات ذهبية 0 شارات فضية 0 {% trans "bronze badges" }
إنشاء تعليق على إجابة

Top viewed

How to calculate piping diameter and thikness according to ASME B31.3 Process Piping Design ?
What is Conductivity (fracture flow) used in Reservoir Engineering?
What is the scientific classification of an atom?
How to use Monte Carlo similation using python to similate Project Risks?
What is a neutron?

سحابة الكلمات الدلالية

neutron electron proton atome three-phase electrical 220V Conductivity flow fracture reservoir Commitment Agreement planning Technical Guide scheduling bailer drilling Storage Quality Control QA/QC Regulatory Audit Compliance Drilling Completion logging Heading Well Offsite Fabrication Éthique Probabilité erreur intégrité Gestion actifs indexation Outil Zinc Sulfide/Sulfate Gas Oil Triple Project Planning Task Scheduling Force RWO PDP annulus Hydrophobic General Plan Testing Functional Test Density Mobilize Subcontract Penetration Digital Simulation tubular Processing goods Sponsor Network Path, Racking ("LSD") Start Medium Microorganisms Backward Engineering Reservoir V-door Water Brackish pumping Scheduled ("SSD") Safety Drill Valve Status Schedule Resource Level Chart Gantt Training Formaldehyde Awareness elevators Estimation Control Pre-Tender Estimate Current budget (QA/QC) Quality Assurance Inspection In-Process Concession (subsea) Plateau Impeller retriever Appraisal Activity (processing) Neutralization Source Potential Personal Rewards Ground Packing Element Liner Slotted Conformance Hanger Instrument Production (injector) Tracer Facilities (mud) Pressure Lift-Off Communication Nonverbal Carrier Concurrent Delays slick Valuation Leaders Manpower Industry Risks Management Incident Spending Investigation Limit Reporting test) (well Identification Phase Programme Vapor World Threshold Velocity lift) Particle Benefits Compressor Painting Insulation Float ("FF") Statistics element Temperature Detailed Motivating Policy Manual Emergency Requirements Response Specific ("KPI") Terms Performance Indicators Qualifications Contractor Optimistic Discontinuous Barite Clintoptolite Dispute Fines Migration Pitot Materials Procurement Evaluation Vendor Contract Award Assets Computer Modeling Procedures Configuration Verification Leader Phased clamp safety (facilities) Considerations Organization Development Competency Trade-off Tetrad Off-the-Shelf Items hazard consequence probability project Python Monte-Carlo risks simulation visualize analyze pipeline ferrites black-powder SRBC Baseline Risk tubing Diameter coiled Emulsifier Emulsion Invert Responsibility Casing Electrical Submersible Phasing Finish Known-Unknown Curvature (seismic) Pre-Qualifications Exchange Capacity Cation MIT-IA Depth Vertical Pulse Triplex Brainstorming Log-Inject-Log Managed GERT Nipple Cased Perforated Fault Software Staff System Vibroseis radioactivity Product Review Acceptance Capability Immature Net-Back Lapse Factor Specification Culture Matrix Staffing Effort Cement Micro Letter Fanning Equation factor) friction ECC WIMS Bar-Vent perforating meter displacement FLC Information Flow connection Junk Static service In-House OWC BATNA Curve Bridging depth control perforation Doghouse Scope Description D&A E&A Effect Belt Architecture wet DFIT Magnitude Order LPG Contractual Legal Electric Logging CL Drawing Logic Semi-Time-Scaled IAxOA CMIT Expenditures Actual opening Skirt access (corrosion) Passivation Blanking Performing Uplift Underbalance Communicating Groups SDV Fluid Shoot Qualification Spacing Hydrofluoric Shearing basket Construction Systems Programmer Individual Activation Layout organophosphates Deox Fourier A2/O botanical pesticide EAP colloidal Displacement process GPR Relationship SOC Constraint Prime Gathering Tap CM Subproject Oil-In-Place Percentage time-lag accumulator compounds aliphatic vapor evaporation compression echo فنى # psvs

Tags

-->-->
إلى