The amount of foreign personnel, material and services that an oil and gas company working in a foreign host country is permitted to employ and import when drilling for and operating a well with the relevant tax regime per product, as defined under the terms of each country’s concession agreement.
The financing of projects that is done by banks and other financial institutions rather than the equity owners
Force Majeure literally means “greater force”. FM clauses in contracts excuse a party from liability if some unforeseen event beyond the control of that party prevents it from performing its obligations under the contract.
In natural gas contracts, Force Majeure can be defined as events beyond the reasonable control of a party acting as a Reasonable and Prudent Operator. Occurrence of Force Majeure will suspend the obligations of the Party affected by the event. Events of political FM affecting a GSA contract can include, but are not limited to war (declared or not), civil strife, riot, expropriation etc., strikes, go slows etc., changes of law, embargoes, blockades etc.; any danger to life or property; failure to receive any consent; withdrawal of any consent; attachment of additional conditions to any consent. Excuses non performance and suspends performance under a contract where the failure to perform is due to circumstances out of the control of the defaulting party.
An event or circumstances which are beyond the buyer’s or the seller’s control, and which a reasonable and prudent person could not have prevented or overcome, and which resulted from him being unable to consume the natural gas that he bought within the framework of the nomination which can include, but is not limited to war, military action, act of terrorism, earthquake, strikes, a failure or problem with any of the facilities or systems required to realize the consumption of the gas.
Calcareous remains of zooplankton
A carbon footprint is a measure of the impact human activities have on the environment in terms of the amount of greenhouse gases produced, measured in units of carbon dioxide. Carbon footprint is made up of the sum of two parts, the direct / primary footprint and the indirect / secondary footprint. The primary footprint is a measure of our direct emissions of CO2 from the burning of fossil fuels including domestic energy consumption and transportation (e.g. car and plane). The secondary footprint is a measure of the indirect CO2 emissions from the whole lifecycle of products we use – those associated with their manufacture and eventual breakdown >
Drilling contracts dollar amounts are usually quoted on a daily rate or a footage rate. Under a daily rate contract the agreed upon dollar amount is paid regardless of the footage drilled. Under a footage rate contract an agreed upon dollar amount is paid based upon each foot drilled, with payment usually contingent upon a specific drilling depth being reached. A drilling contract can also be on a turnkey basis, under which condition the drilling contractor takes upon himself the full responsibility and is totally in charge of drilling and completion operations
