PETROCELTIC (PCI):CHART AND DISCUSSION THREAD (moderated)

For future reference, here are the important bits:

Clause 8.4

For contracts containing a production sharing formula of the type Pi = (a - b) or Pi = (k*a-b) as defined in the association contracts:

When the average monthly production of liquid hydrocarbons and gas of the foreign associate is lower or equal to 20,000 bpd the rate of tax on exceptional profits is five percent.

When the production is 20,001 bpd to 40,000 bpd, the rate is 15 percent.
When the production is 40,001 to 60,000 bpd the rate is 25 percent.
When the production is 60,001 to 80,000 the rate is 35 percent.
When the production is 80,001 to 100,000 the rate is 45 percent.
When the production is above 100,000 the rate is 50 percent.

Art. 32.

The contract of research and exploitation and the contract of’ exploitation are concluded following a call for tender in accordance with the procedures established by lawful way. This lawful way defines, in particular: — criteria and rules of pre-qualification; — procedures of selection of the perimeters to be offered in competition; — procedures of tender of the offers; — procedures of evaluation of the offers and of contract signature.

Contracts of research and exploitation and the contracts of exploitation provided for each call for tender are approved by decision of the minister in charge of hydrocarbons. The minister in charge of hydrocarbons can, on report/ratio justified and given full details, and after approval of the Council of Ministers, to derogate from the provisions above for reasons of interest general within the framework of the policy as regards hydrocarbons. Contracts of research and exploitation and the contracts of exploitation contain obligatorily a clause of participation of the undertaken national SONATRACH - SPA.

In both cases, the rate of participation of the undertaken national SONATRACH - SPA is fixed at a minimum of 51%, before each call to competition, in the aforementioned contracts.