Common Contracts
1 similar Syncrude Royalty Amending Agreement contracts
SYNCRUDE ROYALTY AMENDING AGREEMENTSyncrude Royalty Amending Agreement • November 18th, 2008 • Alberta
By this Agreement, the Lessees agree, in lieu of transitioning to the royalty rates under the “New Royalty Framework” prior to 2016, and contingent upon achieving certain expected production levels, to pay to the Crown in respect of the Syncrude oil sands project additional royalties beyond the royalties payable under the Lessees’ existing Crown Agreement, totalling $975 million in respect of the years 2010 through 2015. In return, the Crown agrees to provide to the Lessees in respect of the Syncrude oil sands project a measure of certainty in relation to various matters, including bitumen valuation methodology, allowed costs, royalty in kind and certain taxes.
