Gas and Min­is­ter Pat­ter­son

Stabroek News - - STABROEK NEWS -

In case there is any ex­cess Gas, the Con­trac­tor is re­quired to carry out a fea­si­bil­ity study re­gard­ing the util­i­sa­tion of such ex­cess and has five years af­ter the sub­mit­tal of the De­vel­op­ment Plan within which to sub­mit the fea­si­bil­ity study.

More­over, if the Con­trac­tor be­lieves that the ex­cess Gas has com­mer­cial value, he is en­ti­tled, but not re­quired, to make fur­ther in­vest­ment to utilise such ex­cess. More­over, the Con­trac­tor may then ne­go­ti­ate “im­proved terms” for the de­vel­op­ment of the ex­cess.

In so far as non-as­so­ci­ated gas is con­cerned, the Agree­ment re­quires the Con­trac­tor to no­tify the Min­is­ter of any Non-As­so­ci­ated Gas dis­cov­ery and whether the Con­trac­tor thinks that such gas is of com­mer­cial value. The Con­trac­tor may then pro­pose re­vi­sions to the Agree­ment to en­able the Con­trac­tor to re­ceive a com­mer­cially com­pet­i­tive re­turn on in­vest­ment for de­vel­op­ment of the Non-As­so­ci­ated Gas.

As you would ap­pre­ci­ate Mr. Pat­ter­son, it is not as sim­ple as you think. I am ask­ing that you be very care­ful with all those mis­takes you keep mak­ing since they have se­ri­ous con­se­quences.

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