Profit Oil

Published at 04:17PM - 20/06/14

Profit Oil is all oil or hydrocarbons that are produced after Cost Oil, that is all hydrocarbons that have been produced after all costs involved with exploration and production (EP) have been recouped by the exploration and production  company.

Revenues from Profit Oil will be split between the exploration and production company and the relevant government.  The exact details and split percentage between both parties will be found in a contract know as the Production Sharing Agreement (PSA).

Last updated on 04:17PM - 29/06/14