05.02.2013 Views

Minerals Report - International Seabed Authority

Minerals Report - International Seabed Authority

Minerals Report - International Seabed Authority

SHOW MORE
SHOW LESS

You also want an ePaper? Increase the reach of your titles

YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.

Freely lift, dispose of and export its share of crude oil, and retain<br />

abroad the proceeds obtained there from.<br />

Rights and obligations of Pertamina:<br />

Pertamina is responsible for the management of the operation while<br />

the contractor is responsible for the work programme.<br />

Pertamina assumes and discharges all other Indonesian taxes, except<br />

contractor’s income tax.<br />

Pertamina assists contractors in the execution of the work programme<br />

by providing facilities, supplies, and personnel with the necessary visas, work<br />

permits, etc.<br />

The contractor shall advance at least US dollars 75,000 a year for the<br />

purpose of enabling Pertamina to meet local currency expenditures.<br />

Pertamina shall ensure that at all times during the term of the contract<br />

the Rupiah funds are available to cover Rupiah expenditure for the execution<br />

of the work programme.<br />

Pertamina has the title to all original data resulting from the petroleum<br />

operation; however, they shall not be disclosed to third party “without<br />

informing the contractor and giving the contractor the opportunity to discuss<br />

the disclosure of such data if the contractor so desires.” The contractor should<br />

also not disclose the data to third parties.<br />

Pertamina has the right to use the equipment which becomes its<br />

property solely for the petroleum operations envisaged under the contract;<br />

otherwise Pertamina shall first consult the contractor.<br />

Recovery of operating costs. The contractor is authorized and<br />

obligated to market all crude oil produced and saved from the contract area<br />

subject to the following:<br />

INTERNATIONAL SEABED AUTHORITY 861

Hooray! Your file is uploaded and ready to be published.

Saved successfully!

Ooh no, something went wrong!