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Features of Production Sharing Contracts

Estimated reading time: 5 minutes   A PSC (Production Sharing Contract), or PSA (Production Sharing Agreement) was first introduced in Indonesia in 1960 for the agriculture sector before it was adopted for the petroleum industry. The success of the PSC was later picked up by other countries in the region such as Malaysia, Philippines, Libya,…

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Geology of West Africa

Estimated reading time: 6 minutes   Exploration and Production (E&P) projects have discovered major oil and gas fields in continental margin systems in areas such as the North Sea, Gulf of Mexico, offshore South America and offshore Africa. Other areas also include The Santos, Campos and Espirito Santo basins off the coast of Brazil that…

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Industry Petroleum Oilfield Pump Jack Fuel Oil

Estimated reading time: 5 minutes   A PSC (Production Sharing Contract), or PSA (Production Sharing Agreement), creates a contractual relationship between an IOC (International Oil Companies) and the host country, authorising the IOC to explore for and exploit hydrocarbons in a defined area and for a defined period. By┬ádefinition, a PSC is a contract between…

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