Claims Intensify, Production Declines

WHEN backed into a corner, people will use anything as a scapegoat. That is what is happening with oil and gas production cost claims. In a production sharing contract, a so-called PSC, all production costs are reimbursed by the government if the oil contractor is successful in producing oil and gas from his oilfields. Well, when the price of this black gold increases, many parties are accusing foreign oil contractors of deliberately increasing p

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