Examples of Deep Offshore in a sentence
Deep Offshore Technology International Conference and Exhibition.
Id. at 141, 146.The decision was made to contract out the investigation to the Firm, which had done work for MCFRS in the past.
Construction work scopes for the turret, mooring system and topside modules were progressed.• Woodside commenced engagements with interested parties to sell down its participating interest in the Rufisque Offshore, Sangomar Offshore and Sangomar Deep Offshore joint venture to a targeted 40-50%.• The Sangomar Field Development Phase 1 was 38% complete at the end of the period and remains on track for targeted first oil in 2023.
On 11 May 2011, identical letters were sent to the Managing Directors of Shell and Eni in Nigeria regarding the OPL 245 Resolution Agreement/Letter of Award.15 The letters confirm that the conduct of petroleum operations shall be governed by a PSA between Shell and Eni, and that the fiscal terms as provided by the Deep Offshore and Inland Basin Production Sharing Contracts Act, Cap 3, LFN 2004, shall be applicable to the PSA between Shell and Eni.10.
As a result, it is often known as a payment “off the top.” Royalties are commonly calculated as a percentage of the value of production and are paid in full from the start of production.Under the terms of the Deep Offshore and Inland Basin Production Sharing Contracts Act, royalty payments for deepwater Blocks are determined by water depth.
See the Deep Offshore and Inland Basin Production Sharing Contracts (Amendment) Decree, Decree No 26 of 1999.
Awuneba currently serves as Executive Director of Multistream Energy Limited; she is on the advisory board of Lagos Deep Offshore Logistics Base (LADOL) and the board of trustees of Youth Business Initiative.
Most significant was the inclusion of a royalty, even for deepwater blocks, in the 2005 Model PSC.A similar pattern can be seen in revisions to national legislation, including the Deep Offshore PSC Act of 1999 (and its update in 2004) and the Petroleum Profits Tax Act of 1990 (also updated in 2004).
A small American engineering firm, Deep Offshore Technology (DOT), adopted the technology to the offshore petroleum sector where it was first used by Conoco on the Hutton field in the British sector of the North Sea, and on the Jolliet field in the Gulf of Mexico.
In response to the demands of foreign investors, the Federal Government on the 23rd of March 1999 enacted the Deep Offshore and Inland basin Production Sharing Contracts Act (PSC Act) (Lukman, R.1999).