- 20 Marks
OGMT – Feb 2020 – L1 – Q1 – Host Government Contracts
Identify and explain the three main Host Government Contracts for oil and gas exploration and production rights.
Question
a) Countries grant exploration and production rights to oil and gas companies under various contractual arrangements. But there are three main ones referred to as Host Government Contracts or World Fiscal Systems for oil and gas. Identify and explain the main features of the three Host Government Contracts.
b) Ghana’s upstream petroleum fiscal regime has been described in some fora as “a hybrid of the Royalty Tax Regime and Production Sharing Contract.” Do you agree with this description? If yes, explain; and if not, explain the fiscal regime of Ghana.
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