In April 2004, the extension area north of block 5 was included to the production sharing agreement.

The production sharing agreement was signed by the parties on 20 September 1994 for development of the field for 30 years.

That gives the government a bigger take without formally renegotiating the production sharing agreement.

The international oil companies could also be offered some of the most corporate-friendly contracts in the world, including what are called production sharing agreements.

In production sharing agreements the country's government awards the execution of exploration and production activities to an oil company.

Determined to avoid these sorts of problems, Western oil giants and other big investors have insisted on a different arrangement: production sharing agreements.

The first ever Russian production sharing agreement was signed in the framework of the Sakhalin-2 project in 1994.

In some production sharing agreements, changes in international oil prices or production rate can affect the company's share of production.

It also concludes production sharing agreements with international oil companies for exploration and development of oil and gas resources in Bangladesh.

In need of patience One of the problems is that the constitution in Iran does not allow normal production sharing agreements.

The state revenue from oil sector had increased as the result of the rising of a number of production sharing agreements with foreign oil companies.

In 2001, the company became Russia's official representative on projects with production sharing agreements (PSA).

The field is developed by international consortium under the North Caspian Sea Production Sharing Agreement.

A production sharing agreement (PSA) for exploration and development of the Karabakh field was signed on 10 November 1995.

Conoco has run into similar problems trying to develop the Yuzhnoeye Khyichuyu field in the Nenets region under a similar production sharing agreement.

Chevron Corporation, ExxonMobil, and Rosneft got the licence to operate Sakhalin-3 under a production sharing agreement granted in 1993.

In January 1989, another production sharing agreement was signed between Qatar and the France State owned oil company Elf Aquitaine.

Production sharing agreements can be beneficial to governments of countries that lack the expertise and/or capital to develop their resources and wish to attract foreign companies to do so.

-- Production sharing agreements were first used in Bolivia in the early 1950s, although their first implementation similar to today's was in Indonesia in the 1960s.

The project is a Production Sharing Agreement (PSA) between Qatar Petroleum and Shell.

In 1997, Texaco (now Chevron Corporation) and Lukoil signed a production sharing agreement with the original two companies and the Kazakhstan Government.

Madagascar Oil's projects are governed by production sharing agreements signed with OMNIS, the relevant Malagasy government agency, in 2004.

In 1996, the Russian Federation completed two production sharing agreements (PSA) for oil and gas exploration off the northeast coast of the Sakhalin Islands.

The first production sharing agreement on the Absheron field was signed between SOCAR and ChevronTexaco on August 1, 1997.

Production sharing agreement head, Abedin outright rejected the notion, saying it was just a visit to the National Energy Sector, adding that they did not have a specific proposal.