A production-sharing agreement template says the government would receive 8 percent of revenues in cash on the first 25,000 barrels of oil per day if the price was $55 or more a barrel.
On production in excess of 100,000 barrels of oil per day, it would receive 14 percent of revenues.
Officials expect the draft law, approved by a council of ministers in February, to be debated in parliament shortly.
fukin bastaards qumanyo
They are scamming the TFG
while European countries demand 78 % tax (!) from foreign oil companies and share of technology and projects .
South America demands with West African nations 45 - 55 % tax .
------ Nacalaa kugu yaal arab foqol qhullum -------
If the legislation passes, it would give the go-ahead for the creation of a state-owned Somalia Petroleum Corporation -- to be 49 percent-owned by Indonesia's PT Medco Energi Internasional Tbk and Kuwait Energy Company . Who the fuk gives away 49 % of a NATIONAL MAJOR .
These poor suckers are writing under agreements with 14 % percent revenues , what the fuk man ?
Wallee puntlanders are selling the nation , they are worse than Suharto the dictator of Indonesia who presumably stole 34 billion dollars.
these guys are stealing pennies .
