TBNG definition

TBNG means Thrace Basin Natural Gas Turkiye Corporation, a wholly-owned affiliate of TWL prior to completion of the TBNG Acquisition and thereafter, a wholly-owned affiliate of Valeura.
TBNG means Thrace Basin Natural Gas Turkiye Corporation, a wholly‐owned affiliate of Valeura. “TBNG JV” means the joint venture formed between CRBV, TBNG and PTI.
TBNG means Thrace Basin Natural Gas (Türkiye) Corporation, a British Virgin Islands company, and a subsidiary of the Parent.

Examples of TBNG in a sentence

  • Under this contract TBNG assumes substantially all liabilities in relation to the health and safety, environmental and other risks associated with drilling operation.

  • Revenues are subject to a 12.5% government royalty and an overriding royalty only on the TBNG JV Lands of 1%.

  • Valeura receives the majority of the benefits from this fee arrangement and the associated proceeds by virtue of its current 81.5% working interest in the TBNG JV facilities.

  • Natural gas from Banarli is being sold to the TBNG JV, net of a transportation and marketing fee.

  • All drilling contracts with TBNG are “turnkey” contracts whereby TBNG assumes substantially all liabilities in relation to the health and safety, environmental and other risks associated with drilling operation.

  • Various contracts for drilling have been awarded to TBNG in recent years.

  • The Transaction was structured as a sale of shares of Thrace Basin Natural Gas (Turkiye) Corporation ("TBNG") and Corporate Resources B.V. ("CRBV"), both of which were wholly owned subsidiaries of Valeura.

  • Other companies related to TBNG also provide some services to the Group such as transportation, power management and repairs.

  • The higher unit production costs in 2019 are reflective of the level of fixed costs included in total operating costs and lower gross production from the TBNG JV Lands and Banarli Exploration Licences.

  • As part of this relationship PetroNeft Group companies also occasionally sell sundry goods and services to TBNG.


More Definitions of TBNG

TBNG is defined in the recitals of this Agreement.
TBNG means Thrace Basin Natural Gas Turkiye Corporation, a wholly-owned affiliate of Valeura.

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