Bailey83221 (bailey83221) wrote,
Bailey83221
bailey83221

International Petroleum Exploration and Development Contracts






Government Participation = Government taking an ownership position in a development venture.

Effective royalty rate = All combined guaranteed returns subject only to fluctuation in the price of oil. Not sharing in risks of loss.

Government Take = Total percent of revenue taken from production, regardless of whether it was a tax, a royalty, a risk sharing production contract, risk service contract or some other method of taking revenue.

PSCs = Production Sharing Contracts. In a production-sharing contract between a contractor and a host government, the contractor typically bears all risk and costs for exploration, development, and production. In return, if exploration is successful, the contractor is given the opportunity to recover the investment from production, subject to specific limits and terms. The contractor also receives a stipulated share of the production remaining after cost recovery, referred to as profit hydrocarbons. Ownership is retained by the host government; however, the contractor normally receives title to the prescribed share of the volumes as they are produced. From and

Risk Service Contract = These agreements are very similar to the production-sharing agreements with the exception of contractor payment. With a risked-service contract, the contractor usually receives a defined share of revenue rather than a share of the production. As in the production-sharing contract, the contractor provides the capital and technical expertise required for exploration and development. If exploration efforts are successful, the contractor can recover those costs from the sale revenues and receive a share of profits through a contract-defined mechanism.

Basic Petroleum Statistics :
http://www.eia.doe.gov/neic/quickfacts/quickoil.html

Top Suppliers of U.S. Crude Oil and Petroleum, 2004 :

http://www.eia.doe.gov/neic/rankings/totimportsby_country.htm

Worldwide Look At Reserves And Production, Oil & Gas Journal December 19, 2005, Pg. 24

ASIA-PACIFIC
WESTERN EUROPE
EASTERN EUROPE and FSU
MIDDLE EAST
AFRICA
WESTERN HEMISPHERE



ESTIMATED PROVED RESERVES
Jan. 1, 2006Jan. 1, 2005
OilGasOilGas
COUNTRY(1,000 bbl)(bcf)(1,000 bbl)(bcf)

ASIA-PACIFIC
Afghanistan -- 1,750 -- 3,530
Australia 1,437,000 27,640 1,491,000 29,000
Bangladesh 28,000 5,000 56,000 10,600
Brunei 1,350,000 13,800 1,350,000 13,800
China 18,250,000 53,325 18,250,000 53,325
China, Taiwan 2,380 297 4,000 2,700
India 5,847,840 38,880 5,416,870 32,525
Indonesia 4,301,000 97,786 4,700,000 90,300
Japan 58,500 1,400 58,500 1,400
Malaysia 3,000,000 75,000 3,000,000 75,000
Myanmar 50,000 10,000 50,000 10,000
New Zealand 53,000 900 51,480 1,178
Pakistan 289,202 28,153 288,675 26,830
Papua New Guinea 240,000 12,200 240,000 12,200
Philippines 138,500 3,960 152,000 3,770
Thailand 291,000 14,754 583,350 13,340
Vietnam 600,000 6,800 600,000 6,800
Total Asia-Pacific 35,936,422 391,645 36,291,875 386,298

WESTERN EUROPE
Austria 62,000 530 62,000 530
Denmark 1,328,000 2,786 1,320,000 3,531
France 158,400 378 146,490 451
Germany 367,200 9,076 394,354 9,856
Greece 7,000 35 7,000 35
Ireland -- 350 -- 700
Italy 621,700 8,000 621,700 8,000
Netherlands 106,000 62,000 106,000 62,000
Norway 7,705,000 84,260 8,500,000 73,624
Spain 157,626 90 157,626 90
Turkey 300,000 300 300,000 300
United Kingdom 4,029,480 18,750 4,487,000 20,800
Total Western Europe 14,842,406 186,555 16,102,170 179,917
EASTERN EUROPE and FSU
Albania 198,130 30 165,000 100
Azerbaijan 7,000,000 30,000 7,000,000 30,000
Belarus 198,000 100 198,000 100
Bulgaria 15,000 210 15,000 210
Croatia 69,144 1,000 75,275 870
Czech Republic 15,000 140 15,000 140
Georgia 35,000 300 35,000 300
Hungary 102,480 1,210 102,480 1,210
Kazakhstan 9,000,000 65,000 9,000,000 65,000
Kyrgyzstan 40,000 200 40,000 200
Lithuania 12,000 -- 12,000 --
Poland 96,375 5,820 96,375 5,820
Romania 955,620 3,550 955,620 3,550
Russia 60,000,000 1,680,000 60,000,000 1,680,000
Serbia 77,500 1,700 77,500 1,700
Slovakia 9,000 530 9,000 530
Tajikistan 12,000 200 12,000 200
Turkmenistan 546,000 71,000 546,000 71,000
Ukraine 395,000 39,600 395,000 39,600
Uzbekistan 594,000 66,200 594,000 66,200
Total Eastern Europe
 and FSU 79,370,249 1,966,790 79,343,250 1,966,730

MIDDLE EAST
Abu Dhabi 92,200,000 198,500 92,200,000 196,100
Bahrain 124,560 3,250 124,560 3,250
Dubai 4,000,000 4,000 4,000,000 4,100
Iran 132,460,000 971,150 125,800,000 940,000
Iraq 115,000,000 111,950 115,000,000 110,000
Israel 2,000 1,375 2,000 1,375
Jordan 1,000 220 1,000 220
Kuwait 101,500,000 55,515 99,000,000 55,000
Neutral Zone 5,000,000 1,000 5,000,000 1,000
Oman 5,506,000 29,280 5,506,000 29,280
Qatar 15,207,000 910,520 15,207,000 910,000
Ras al Khaimah 100,000 1,200 100,000 1,200
Saudi Arabia 264,310,000 241,340 259,400,000 234,500
Sharjah 1,500,000 10,700 1,500,000 10,700
Syria 2,500,000 8,500 2,500,000 8,500
Yemen 4,000,000 16,900 4,000,000 16,900
Total Middle East 743,410,560 2,565,400 729,340,560 2,522,125
AFRICA
Algeria 11,350,000 160,505 11,800,000 160,500
Angola 5,412,000 1,620 5,412,000 1,620
Benin 8,210 40 8,210 40
Cameroon 400,000 3,900 400,000 3,900
Chad 1,500,000 -- -- --
Congo (former Zaire) 187,000 35 187,000 35
Congo Brazzaville 1,505,900 3,200 1,505,910 3,200
Egypt 3,700,000 58,500 3,700,000 58,500
Equatorial Guinea 12,000 1,300 12,000 1,300
Ethiopia 428 880 428 880
Gabon 2,499,000 1,200 2,499,000 1,200
Ghana 16,500 840 16,510 840
Ivory Coast 100,000 1,000 100,000 1,000
Libya 39,126,000 52,650 39,000,000 52,000
Madagascar -- -- -- --
Morocco 1,069 60 1,600 43
Mozambique -- 4,500 -- 4,500
Namibia -- 2,200 -- 2,200
Nigeria 35,876,000 184,660 35,255,000 176,000
Rwanda -- 2,000 -- 2,000
Somalia -- 200 -- 200
South Africa 15,680 1 15,680 1
Sudan 563,000 3,000 563,000 3,000
Tanzania -- 800 -- 800
Tunisia 307,560 2,750 307,560 2,750
Total Africa 102,580,347 485,841 100,783,898 476,509
WESTERN HEMISPHERE
Argentina 2,320,450 18,866 2,674,500 21,630
Barbados 2,500 5 2,509 5
Bolivia 440,500 24,000 440,500 24,000
Brazil 11,243,300 11,515 10,600,000 8,829
Canada 178,792,400 56,577 178,800,000 56,600
Chile 150,000 3,460 150,000 3,460
Colombia 1,542,000 4,040 1,542,000 4,040
Cuba 750,000 2,500 750,000 2,500
Ecuador 4,629,600 345 4,629,600 345
Guatemala 526,000 109 526,000 109
Mexico 12,882,200 15,985 14,600,000 14,850
Peru 929,600 8,723 952,800 8,715
Suriname 111,000 -- 111,000 --
Trinidad and Tobago 990,000 25,880 990,000 25,887
United States 21,371,000 192,513 21,891,000 189,044
Venezuela 79,729,000 151,395 77,226,000 151,000
Total Western Hemisphere 316,409,550 515,913 315,885,909 511,014
TOTAL WORLD 1,292,549,534 6,112,144 1,277,747,662 6,042,593
Total OPEC 901,659,000 3,152,871 885,188,000 3,092,400


* Does not include shut in, injection, or service wells.
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