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UGANDA Model Contract 1999 Model Production Sharing Contract UGANDA Model Production Sharing Agreement of August 1999 For Petroleum Exploration, Development & Production In Uganda TABLE OF CONTENTS

How to fill out model production sharing agreement

How to fill out a model production sharing agreement:

1. Begin by gathering all necessary information, including the names of the contracting parties, their contact details, and any relevant identification numbers or references.
2. Identify the scope of the agreement, specifying the type of production sharing activities it will cover, such as exploration, development, or production of natural resources.
3. Clearly define the rights and obligations of each party involved in the agreement. This may include determining the sharing of costs, risks, and benefits, as well as any specific roles and responsibilities.
4. State the term of the agreement, including the commencement and termination dates. It is vital to establish the duration of exploration, development, and production periods, and any options for renewal or extension.
5. Set out the financial arrangements, including how profits will be shared and the method for calculating payments and royalties. Address any cost recovery mechanisms and provisions for auditing and verifying expenses.
6. Address any environmental and social responsibilities, outlining the measures that will be taken to ensure compliance with relevant laws and regulations. Consider including provisions for environmental impact assessments, monitoring plans, and community engagement.
7. Include provisions for dispute resolution, specifying the methods and procedures that will be used to resolve any disagreements or conflicts between the parties. This may involve negotiation, mediation, or, if necessary, arbitration.
8. Clearly define the governing law and jurisdiction that will apply to the agreement. Specify which country's laws will be used to interpret and enforce the agreement and the jurisdiction where any legal actions may be pursued.

Who needs a model production sharing agreement?

1. Companies or individuals involved in the exploration, development, and production of natural resources, such as oil, gas, or minerals, may need a model production sharing agreement. This agreement helps establish a legal framework for cooperation and resource sharing between the resource owner and the contractor.
2. Governments or regulatory authorities that grant exploration and production rights to contractors or companies may also need a model production sharing agreement. This agreement allows them to outline the terms and conditions under which the resources will be developed and shared, ensuring compliance with relevant laws and regulations.
3. Investors or financiers who are considering funding or providing capital for resource development projects may also require a model production sharing agreement. This agreement helps ensure transparency, clarity, and predictability in the financial arrangements and risk-sharing mechanisms involved in the project.

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