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Production Sharing Agreement
Production sharing agreements (PSAs) or production sharing contracts (PSCs) are a common type of contract signed between a government and a resource extraction company (or group of companies) concerning how much of the resource (usually oil) extracted from the country each will receive. Description 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. Today they are often used in the Middle East and Central Asia, overall 40 countries worldwide. In production sharing agreements the country's government awards the execution of exploration and production activities to an oil company. The oil company bears the mineral and financial risk of the initiative and explores, develops and ultimately produces the field as required. When successful, the company is permitted to use the money from produced oil to recover capital and operational expenditures, known as "cost oil". The rema ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Company
A company, abbreviated as co., is a Legal personality, legal entity representing an association of legal people, whether Natural person, natural, Juridical person, juridical or a mixture of both, with a specific objective. Company members share a common purpose and unite to achieve specific, declared goals. Over time, companies have evolved to have the following features: "separate legal personality, limited liability, transferable shares, investor ownership, and a managerial hierarchy". The company, as an entity, was created by the State (polity), state which granted the privilege of incorporation. Companies take various forms, such as: * voluntary associations, which may include nonprofit organizations * List of legal entity types by country, business entities, whose aim is to generate sales, revenue, and For-profit, profit * financial entities and banks * programs or educational institutions A company can be created as a legal person so that the company itself has limi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Natural Resource
Natural resources are resources that are drawn from nature and used with few modifications. This includes the sources of valued characteristics such as commercial and industrial use, aesthetic value, scientific interest, and cultural value. On Earth, it includes sunlight, atmosphere, water, land, all minerals along with all vegetation, and wildlife. Natural resources are part of humanity's natural heritage or protected in nature reserves. Particular areas (such as the rainforest in Fatu-Hiva) often feature biodiversity and geodiversity in their ecosystems. Natural resources may be classified in different ways. Natural resources are materials and components (something that can be used) found within the environment. Every man-made product is composed of natural resources (at its fundamental level). A natural resource may exist as a separate entity such as freshwater, air, or any living organism such as a fish, or it may be transformed by extractivist industries into an e ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Petroleum
Petroleum, also known as crude oil or simply oil, is a naturally occurring, yellowish-black liquid chemical mixture found in geological formations, consisting mainly of hydrocarbons. The term ''petroleum'' refers both to naturally occurring unprocessed crude oil, as well as to petroleum products that consist of refining, refined crude oil. Petroleum is a fossil fuel formed over millions of years from anaerobic decay of organic materials from buried prehistoric life, prehistoric organisms, particularly planktons and algae, and 70% of the world's oil deposits were formed during the Mesozoic. Conventional reserves of petroleum are primarily recovered by oil drilling, drilling, which is done after a study of the relevant structural geology, sedimentary basin analysis, analysis of the sedimentary basin, and reservoir characterization, characterization of the petroleum reservoir. There are also unconventional (oil & gas) reservoir, unconventional reserves such as oil sands and oil sh ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Middle East
The Middle East (term originally coined in English language) is a geopolitical region encompassing the Arabian Peninsula, the Levant, Turkey, Egypt, Iran, and Iraq. The term came into widespread usage by the United Kingdom and western European nations in the early 20th century as a replacement of the term Near East (both were in contrast to the Far East). The term "Middle East" has led to some confusion over its changing definitions. Since the late 20th century, it has been criticized as being too Eurocentrism, Eurocentric. The region includes the vast majority of the territories included in the closely associated definition of West Asia, but without the South Caucasus. It also includes all of Egypt (not just the Sinai Peninsula, Sinai) and all of Turkey (including East Thrace). Most Middle Eastern countries (13 out of 18) are part of the Arab world. The list of Middle Eastern countries by population, most populous countries in the region are Egypt, Turkey, and Iran, whil ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Central Asia
Central Asia is a region of Asia consisting of Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan. The countries as a group are also colloquially referred to as the "-stans" as all have names ending with the Persian language, Persian suffix "-stan" (meaning ) in both respective native languages and most other languages. The region is bounded by the Caspian Sea to the southwest, European Russia to the northwest, China and Mongolia to the east, Afghanistan and Iran to the south, and Siberia to the north. Together, the five Central Asian countries have a total population of around million. In the pre-Islamic and early Islamic eras ( and earlier) Central Asia was inhabited predominantly by Iranian peoples, populated by Eastern Iranian-speaking Bactrians, Sogdians, Khwarezmian language, Chorasmians, and the semi-nomadic Scythians and Dahae. As the result of Turkic migration, Central Asia also became the homeland for the Kazakhs, Kyrgyzs, Volga Tatars, Tatars, Turkmens, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Risk
Financial risk is any of various types of risk associated with financing, including financial transactions that include company loans in risk of default. Often it is understood to include only downside risk, meaning the potential for financial loss and uncertainty about its extent. Modern portfolio theory initiated by Harry Markowitz in 1952 under his thesis titled "Portfolio Selection" is the discipline and study which pertains to managing market and financial risk. In modern portfolio theory, the variance (or standard deviation In statistics, the standard deviation is a measure of the amount of variation of the values of a variable about its Expected value, mean. A low standard Deviation (statistics), deviation indicates that the values tend to be close to the mean ( ...) of a portfolio is used as the definition of risk. Types According to Bender and Panz (2021), financial risks can be sorted into five different categories. In their study, they apply an algorith ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Risk Sharing Contracts
In simple terms, risk is the possibility of something bad happening. Risk involves uncertainty about the effects/implications of an activity with respect to something that humans value (such as health, well-being, wealth, property or the environment), often focusing on negative, undesirable consequences. Many different definitions have been proposed. One international standard definition of risk is the "effect of uncertainty on objectives". The understanding of risk, the methods of assessment and management, the descriptions of risk and even the definitions of risk differ in different practice areas (business, economics, environment, finance, information technology, health, insurance, safety, security, privacy, etc). This article provides links to more detailed articles on these areas. The international standard for risk management, ISO 31000, provides principles and general guidelines on managing risks faced by organizations. Definitions of risk Oxford English Dictionary ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Enhanced Oil Recovery
Enhanced oil recovery (abbreviated EOR), also called tertiary recovery, is the extraction of crude oil from an oil field that cannot be extracted after primary and secondary recovery methods have been completely exhausted. Whereas primary and secondary recovery techniques rely on the pressure differential between the surface and the underground well, enhanced oil recovery functions by altering the physical or chemical properties of the oil itself in order to make it easier to extract. When EOR is used, 30% to 60% or more of a reservoir's oil can be extracted, compared to 20% to 40% using only Extraction of petroleum#Primary recovery, primary and Extraction of petroleum#Secondary recovery, secondary recovery. There are four main EOR techniques: carbon dioxide (CO2) injection, gas injection, thermal EOR, and chemical EOR. More advanced, speculative EOR techniques are sometimes called quaternary recovery. Carbon dioxide injection, known as CO2-EOR, is the most common method. In thi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Center For Energy Sustainability And Economics
Center or centre may refer to: Mathematics *Center (geometry), the middle of an object * Center (algebra), used in various contexts ** Center (group theory) ** Center (ring theory) * Graph center, the set of all vertices of minimum eccentricity * Central tendency, measures of the central tendency (center) in a set of data Places United States * Centre, Alabama * Center, Colorado * Center, Georgia * Center, Indiana * Center, Warrick County, Indiana * Center, Kentucky * Center, Missouri * Center, Nebraska * Center, North Dakota * Centre County, Pennsylvania * Center, Portland, Oregon * Center, Texas * Center, Washington * Center, Outagamie County, Wisconsin * Center, Rock County, Wisconsin **Center (community), Wisconsin *Center Township (other) *Centre Township (other) *Centre Avenue (other) *Center Hill (other) Other countries * Centre region, Hainaut, Belgium * Centre Region, Burkina Faso * Centre Region (Cameroon) * Centre-Val de Lo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Donald Lim Siang Chai
Donald Lim Siang Chai (born 17 December 1955) is a Malaysian politician who served as Deputy Minister of Finance II in the Barisan Nasional (BN) administration under former Prime Minister and Minister of Finance I Najib Razak and Minister of Finance II Ahmad Husni Hanadzlah from June 2010 to May 2013 as well as Senator. He had served as Deputy Minister of Tourism in the Barisan Nasional (BN) administration under former Prime Minister Abdullah Ahmad Badawi and former minister Tengku Adnan Tengku Mansor from February 2006 to March 2008, Deputy Minister of Information II from November 2003 to February 2006 as well as Member of Parliament (MP) for Petaling Jaya Selatan from April 1995 to March 2008. He is a member of Malaysian Chinese Association (MCA), a component party of Barisan Nasional (BN) coalitions. Political career Donald Lim Siang Chai first elected as MP for Petaling Jaya Selatan in 1995 general election. He reelected as MP for Petaling Jaya Selatan in 1999 and 2004 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Joint Venture
A joint venture (JV) is a business entity created by two or more parties, generally characterized by shared ownership, shared returns and risks, and shared governance. Companies typically pursue joint ventures for one of four reasons: to access a new market, particularly emerging market; to gain scale efficiencies by combining assets and operations; to share risk for major investments or projects; or to access skills and capabilities.' Most joint ventures are incorporated, although some, as in the oil and gas industry, are "unincorporated" joint ventures that mimic a corporate entity. With individuals, when two or more persons come together to form a temporary partnership for the purpose of carrying out a particular project, such partnership can also be called a joint venture where the parties are "''co-venturers''". A joint venture can take the form of a business. It can also take the form of a project or asset JV, created for the purpose of pursuing one specific project, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Barrel Of Oil Equivalent
The barrel of oil equivalent (BOE) is a unit of energy based on the approximate energy released by burning one barrel (, or about ) of crude oil. The BOE is used by oil and gas companies in their financial statements as a way of combining oil and natural gas reserves and production into a single measure, although this energy equivalence does not take into account the lower financial value of energy in the form of gas. The U.S. Energy Information Administration defines the barrel of oil equivalent as about . The value is necessarily approximate as various grades of oil and gas have slightly different heating values. If one considers the lower heating value instead of the higher heating value, the value for one BOE would be approximately 5.4 GJ (see tonne of oil equivalent). Typically is equivalent to one BOE. The United States Geological Survey The United States Geological Survey (USGS), founded as the Geological Survey, is an agency of the U.S. Department of the Inte ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
