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Revenue sharing model: Download the full draft
Mar 03:   The revenue sharing model for new E&P programmes is finally on its way
8For reference purposes, the website carries here the draft Model Revenue Sharing Contract
8The new contract has many features that are different from the current model
8For example, the initial exploration phase will consist of the first three consecutive contract years with a provision to proceed to the subsequent exploration phase of maximum three consecutive years
8Clear-cut fines per day have been imposed for not commencing development operations after FDP and subsequent commercial operations
8The revenue sharing formula is laid out clearly
8There is a clause that allows preference to Indian subcontractors too and this will be of interest to equipment and service providers in the E&P business
8The draft is currently under discussion within the government of India
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