Examples of TBNG in a sentence
The particulars of the Lease are set out below:– Date of Lease Agreement : 14 December 2005 Date of Formal Tenancy : Early January 2006 Agreement Parties to Lease Agreement : Xxxxx Xxx Realty Limited as landlord Atlas Corporate Management Limited as tenant Premises : Penthouse 01 on 29th and 30th Floors, Bamboo Grove, and Carparking Space Nos.
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.
Other companies related to TBNG also provide some services to the Group such as transportation, power management and repairs.
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.
As part of this relationship PetroNeft Group companies also occasionally sell sundry goods and services to TBNG.
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.