Cote Dlvoire : RIALTO - Agreement signed to replace current PSC for Block CI-202.
The agreement has been signed to replace the current Production Sharing Contract (PSC) for Block CI-202 with a new PSC on revised terms.
Some of the Key elements of the agreement are : 1) The new PSC would be inked before 9 November 2013 when the second exploration period under the existing PSC reaches an end, and will have 3 successive exploration periods over a total of 7 years from being signed; 2) The Ministry has recognized the planned entry of Vitol into partnership with Rialto on the basis earlier outlined; 3) Significantly all petroleum costs incurred so far by Rialto on Block CI-202 will be carried over for recovery in the new PSC.
2013 Al Bawaba (Albawaba.com)
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|Date:||Sep 18, 2013|
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