Production Sharing definition

Production Sharing has the meaning ascribed in Article VII(b)(1) of this Agreement.
View Source
Production Sharing. This means moving labor-intensive manufacturing functions to countries where labor is cheap and/or market access is impeded by restrictions on direct imports. As practiced by Japan, the high-wage, high-profit, and administrative functions remain in the home country. There is little evidence of such economic nationalism by the United States.
View Source

Examples of Production Sharing in a sentence

  • Oil and Gas losses occurred under the responsibility of the Contractor, as well as burning of Natural Gas in flares, shall be deducted from the share of the Profit Oil to which the Contractor is entitled after the Production Sharing.

  • In the event of division of the Contract Area for any reason, a new Production Sharing agreement shall be executed for each area resulting from the division, keeping the same terms, obligations, programs, and deadlines of the original Agreement.

  • The Cost Oil shall be controlled through an information system, managed and designed by the Manager and fed by the Operator, referred to as Production Sharing Expenditure Management System (SGPP).

  • Each Consortium Member is free to sell its share of the Production at the price and under the terms and conditions it deems applicable, pursuant to the provisions of the Production Sharing Agreement and the Applicable Laws and Regulations.

  • The Consortium Members may terminate this Agreement, as long as they have previously reached an agreement and performed their obligations in the Production Sharing Agreement.

  • The Sellers are parties to a Production Sharing Contract dated 15th May, 1995 as amended from time to time (the “PSC”) with the Government of India acting through the President of India in respect of the Block RJ-ON–90/1 located in the Barmer district in the state of Rajasthan, India (the “RJ Block”).

  • The Consortium Members shall have an undivided share of the rights and obligations arising from the Production Sharing Agreement, in the proportions established below, hereinafter referred to as Proportional Shares or Proportional Share.

  • The subject matter of this Consortium Agreement is the association of the Parties to comply with Production Sharing Agreement for Exploration and Production of Oil and Gas No. __________________, hereinafter referred to as Production Sharing Agreement.

  • Upon approval of the Assignment, the Contracting Party shall call ANP and the Consortium Members to execute the new Production Sharing Agreements within thirty (30) days.

  • The new Production Sharing agreements entered into by the Parties shall be effective as of the date of their execution, under the Applicable Laws and Regulations.

Related to Production Sharing

  • Car sharing start time means the time when the shared vehicle becomes subject to the control of the shared vehicle driver at or after the time the reservation of a shared vehicle is scheduled to begin as documented in the records of a peer–to–peer car sharing program.

  • Cost sharing means the respective share of Total Project Costs to be contributed by the Applicant and by DOE. The percentage of Applicant Cost Share is to be applied to the Total Project Cost (i.e., the sum of Applicant plus DOE Cost Shares) rather than to the DOE contribution alone.

  • Production means a method of obtaining goods including manufacturing, assembling, processing, raising, growing, breeding, mining, extracting, harvesting, fishing, trapping, gathering, collecting, hunting and capturing.

  • Job Sharing means the sharing by two or more persons of a position.

  • Production Burdens means any royalties (including lessor’s royalties), overriding royalties, production payments, net profit interests or other burdens upon, measured by or payable out of oil, gas or mineral production.