It added that the settlement of the territorial dispute through the signing of the 2009 Exchange of Letters has allowed it to enter into new production sharing contracts for the two blocks.
Under the eighth round of New Exploration Licensing Policy (NELP-VIII), Government has offered 31 production sharing contracts on 30 June 2010.
In Trinidad exploration licenses are issued as production sharing contracts (PSC's).
The company also signed a total of five new production sharing contracts (PSCs) in 1998 and 1999, and began oil production in the Sirri field in Iran.
Many approaches and models exist including sharing contracts, establishing joint ventures or special purpose vehicles.
The company owns rights in six production sharing contracts, including interests in the Taq Taq, Tawke, and Chia Surkh fields.
They were followed by chief operating officer Joe Darby who reviewed the geology of the Sanga Sanga and Runtu production sharing contracts, and the prospects for adding reserves.
As former officials describe it, some officers regarded her as a stickler for cumbersome rules on things like sharing contracts with small businesses and ensuring open competition for bids.
Malaysia encourages foreign oil company participation through production sharing contracts, in which significant amount of oil will be given away to the foreign oil company until it reaches a production milestone.
He was appointed head of the senate services committee, which reportedly agreed to share certain contracts among principal officers and committee members.
