EXHIBIT 10.24
TECHNICAL ASSISTANCE AGREEMENT
BY AND AMONG
DEMOCRATIC REPUBLIC OF SAO TOME PRINCIPE
AND
SAO TOME AND PRINCIPE NATIONAL PETROLEUM COMPANY S.A.
AND
MOBIL EXPLORATION AND PRODUCING SERVICES INC.
September 10, 1998
TECHNICAL ASSISTANCE AGREEMENT
This Technical Assistance Agreement ("Agreement") is entered into this the 10th
day of September 1998 by and among the Democratic Republic of Sao Tome Principe
("Republic"), Sao Tome and Principe National Petroleum Company S.A. ("STPetro")
a public company organized under the laws of the Republic and Mobil Exploration
and Producing Services Inc. ("Mobile") a company organized under the laws of the
State of Delaware USA. (Republic, STPetro and Mobil collectively referred to as
"Parties".)
WHEREAS:
By various memoranda of agreement, letters and stipulations entered into between
the Republic, on the one hand, and Evnironmental Remediation Holding Corp.
("ERHC") and Procura Financial. Consultants C.C.("PFC") on the other hand,
ERHC/PFC agreed to perform an evaluation and feasibility study of oil gas and
mineral reserves within the Republic in exchange for the granting of oil and gas
concessions to a goint venture company to be created by the Republic, ERHC and
PFC, such documents include but are not limited to:
(1) Letter of understanding between the Republic and ERHC dated May 18, 1998,
(2) A Memorandum of Agreement ("MOA") between the Republic, on the one hand,
and ERHC/PFC on the other hand dated May 27, 1997,
(3) A Memorandum of Understanding between the Republic and ERHC/PFC dated
July 29, 1997,
(4) Memorandum of Understanding between the republic and ERHC dated September
30, 1997, and
(5) Stipulation by and between the Republic and ERHC dated November 20, 1997.
By Agreement dated August 18, 1998, PFC assigned and transferred to ERHC all of
PFC's rights and obligations in the venture under the documents described in
preamble A above, as well as all other agreements related thereto.
In July of 1998, the joint venture company STPetro was created by the Republic
and ERHC in accordance with Article 99(d) of the Constitution of the Republic,
by Decree Lay Ner: 27/98 to engage in all activities connected with or related
to the petroleum and gas industry as well as other activities as set out in such
Decree Law.
The Republic desires to have a technical evaluation and feasibility study of oil
and gas exploration potential performed on a portion of the area within the
Republic described as offshore blocks 1 through 22 and additional areas as
depicted on the map attached hereto as Appendix "A" ("Acreage").
Mobil is willing to undertake such technical evaluation and feasibility study of
oil and gas
exploration potential of the Acreage and, subject to the conditions of this
Agreement, participate with STPetro in petroleum exploration, development and
production.
Now therefore the Parties agree as follows:
Article I - Term
This Agreement is effective, after it is signed by STPetro and Mobil, as of the
date approved by the Republic, as shown on the signature page ("Effective Date")
and shall terminate 18 months after the Effective Date. If this Agreement is not
approved by the Republic by October 31, 1998, it shall be null and void.
Article II - Evaluation
During the term of this Agreement, Mobil will conduct a technical evaluation and
feasibility study of oil and gas exploration potential of the Acreage and
produce a written report of its findings ("Evaluation Report").
Article III - Seismic Survey
As part of its technical evaluation, Mobil shall conduct, or cause to be
conducted, a 2-D reconnaissance seismic survey over the Acreage. Such survey
shall be of sufficient quantity and quality taking into account all pre-existing
geoscientific information available, to prepare the Evaluation Report. Mobil
shall design the program and negotiate for acquisition of the seismic data
directly with a seismic contractor. Mobil shall also be entitled to examine free
of cost (and copy) any other geoscientific information in the possession of
STPetro or the Republic which may bear on Mobil's evaluation of the Acreage.
During the term of this Agreement, seismic data acquired or processed and all
information generated by employees of Mobil shall remain the property of Mobil.
Subject to any rights of the seismic contractor, at the termination of this
Agreement, seismic data acquired and processed within the area to be covered by
a Production Sharing Contract ("PSC") in which Mobil has an interest shall be
owned jointly by the Parties; all other seismic data shall become the property
of STPetro and the Republic. Republic hereby grants all rights necessary for
Mobil and its subcontractors to conduct such seismic ▇▇▇▇▇▇. During the ▇▇▇▇▇▇
STPetro may designate up to a maximum of three (3) representatives of the
Republic and/or STPetro to accompany the seismic vessel during seismic
acquisition subject to vessel capacity and the consent of the seismic
contractor.
Article IV - Evaluation Report
On or before one (1) year from the Effective Date, Mobil shall conduct a review
of the progress of the seismic program and the Evaluation Report for the
Republic and STPetro and share preliminary conclusions, if any, regarding the
oil and gas exploration potential of the subject Acreage. On or before the end
of the term of this Agreement, Mobil shall deliver to the Republic and STPetro a
written Evaluation Report describing the exploration potential of the Acreage.
The Evaluation Report shall address seismic interpretations, geologic
characteristics including stratigraphic interpretation, geochemistry (depending
on availability of data), reserve potential
and risk assessment, and shall draw conclusions concerning oil and gas
exploration potential. Although Mobil shall product the Evaluation Report using
practices which are standard and acceptable in the international petroleum
industry, the Parties acknowledge that geoscientific conclusions are inherently
risky. Therefore, Mobil does not warrant or represent that the information
contained in the Evaluation Report will be accurate or reliable, and conclusions
drawn from the Report shall be at the sole risk, cost and expense of the Party
or any succeeding recipient that draws such conclusions.
Article V - Consideration
In consideration of the grant of rights to conduct the technical evaluation and
feasibility study together with rights, under certain conditions to participate
with STPetro in further exploration, development and production of petroleum,
Mobil shall pay each of the following amounts:
(1) all costs and expenses of the seismic acquisition and
reprocessing (payable directly to third party contractors);
(2) the amount of [Redacted Rule 24b-2 Confidential Treatment
Application] US dollars (US [Redacted Rule 24b-2 Confidential
Treatment Application]) to the Republic within ten (10) days
after the Effective Date of this Agreement;
(3) the amount of [Redacted Rule 24b-2 Confidential Treatment
Application] US dollars (US [Redacted Rule 24b-2 Confidential
Treatment Application]) to the Republic, on a date which is
nine (9) months after the Effective Date of this Agreement.
(4) If Mobile exercises its right of first refusal under the terms
of Article VII, STPetro shall receive [Redacted Rule 24b-2
Confidential Treatment Application]% of a Contractor's
interest in the PSC, carried through first production by
Mobil, subject to cost recovery by Mobil.
If such date in subsection (b) or (c) is a Saturday, Sunday or bank holiday,
such payment date shall be the next business day in Dallas, Texas USA. Payments
to the Republic shall be made by electronic transfer to a bank and an account in
the name of the Republic as designated to Mobil in writing by the Minister of
Planning and Finance.
Article VI - Production Sharing Contract Negotiations
During the term of this Agreement, Mobil shall have the exclusive right to
negotiate with STPetro for a mutually acceptable PSC. Such negotiations shall
commence as soon as practicable after the Effective Date of this Agreement and
shall be conducted diligently and in good faith by the Parties. The following
principles and essential terms shall be incorporated into the terms of the PSC
as well as other terms to be negotiated:
(1) Cost Recovery by Contractor of all petroleum operations costs which
shall include all costs for acquiring seismic expended by Mobil under
the terms of this Agreement. Bonus
payments, although not cost recoverable, will be tax deductible.
(2) An exploration well obligation of two (2) ▇▇▇▇▇ to be drilled within
the first 18 months after the effective date of the PSC, subject to
deferral in the event that drilling would have an impact upon
resolution of any unresolved border claims by other countries.
(3) A signature bonus payable by Mobil on the date of the PSC becomes
effective of an amount calculated as the sum of:(i)[Redacted Rule 24b-2
Confidential Treatment Application] US dollars (US [Redacted Rule 24b-2
Confidential Treatment Application]) plus (ii) [Redacted Rule 24b-2
Confidential Treatment Application] US dollars (US [Redacted Rule 24b-2
Confidential Treatment Application]) per block as designated on the
attached Acreage map, subject to deferral of the amount set out in (ii)
above for each block having a border that is subject to an unresolved
claim by another country or countries in the area.
(4) A right of the Contractor to freely export its share of production, and
to export and retain abroad all proceeds from the sale of its share of
production.
(5) Payment by Contractor of US [Redacted Rule 24b-2 Confidential Treatment
Application] dollars per block annual rental after the first year to
defer drilling, production or relinquishment for individual blocks
where drilling operations have not occurred.
(6) Valuation of production for the purposes of cost recovery, payment of
royalty and determining Contractor's income tax to be at net realized
prices obtained.
(7) An arbitration provision using internationally accepted rules in a
neutral forum to resolve disputes.
(8) Confirmation of the PSC by a legalization process to effectively make
the PSC a law in the Republic.
(9) Currency to be converted at Market rates.
(10) Books to be kept in US dollars.
(11) Free import and export of goods, materials and services by Mobil, its
Affiliates and subcontractors.
(12) Right of Contractor to transfer interests in the PSC without penalty
subject to the consent of STPetro and the Republic which shall not be
unreasonably withheld.
(13) Force Majeure provision to excuse obligations.
(14) Structural provisions to ensure creditability of income tax paid to the
Republic, for US tax purposes, exemption from all other taxes and
duties and a tax stability provision.
(15) Production sharing terms described in Appendix B attached hereto.
(16) Mobil shall be the operator under the terms of the PSC subject to the
terms of a Joint Operating Agreement to be negotiated between Mobil and
STPetro.
Article VII - Right of First Refusal
As consideration to Mobil for its services and payments under the terms of this
Agreement, the Republic hereby grants Mobil a right of first refusal to acquire
a PSC to be awarded on all or a portion of the Acreage to be designated by Mobil
under terms negotiated in accordance with Article VI. Mobil shall exercise its
right as follows:
On or before the end of the term of this Agreement, Mobil shall notify STPetro
in writing that it is either: (i) exercising its right to enter into a PSC on
all or a portion of the Acreage (and describing such portion); or (ii)
relinquishing its right.
Within thirty (30) days after notification that Mobil is exercising its right,
the Republic, STPetro and Mobil (or its affiliate) shall execute such PSC.
In lieu of any one or more of the blocks designated 1 through 22, Mobil may
designate and select one or more blocks continguous to the Acreage to the sough
as shown on the map marked Appendix "A" attached hereto ("Optional Block
Nomination Area") excluding areas in water depths less that 1500 meters. Such
block shall be of a size comparable to blocks within the Acreage, provided that
Mobil may not select more that 22 blocks in total. The configuration of any such
newly designated block or blocks shall be subject to mutual agreement of the
Parties. Except as provided herein, any newly-designated block or blocks shall
be subject to the same terms and conditions contained in this Agreement that
apply to the originally designated Acreage. As consideration for grant of a
right of first refusal on the Optional Block Nomination Area, Mobil agrees to
pay an additional royalty on production from any field covered by the terms of
the PSC as follows:
Cumulative Production Additional Royalty
[Redacted Rule 24b-2 Confidential Treatment Application]bbls 1%
[Redacted Rule 24b-2 Confidential Treatment Application]bbls 2%
[Redacted Rule 24b-2 Confidential Treatment Application]bbls and above 3%
Such Additional Royalty shall be added to the royalty payable under the PSC as
set out in Appendix B.
Article VIII - Confidentiality
The Parties shall keep confidential and not disclose to third parties
information concerning the terms of this Agreement, all PSC negotiations, all
written communications between the Parties dealing with the subject matter of
this Agreement or PSC negotiations, all geoscientific information related to the
Acreage and the Evaluation Report (collectively called "Confidential
Information"). Information in the public domain on the date of this Agreement
shall not be considered Confidential Information.
Confidential Information may be disclosed to:
(1) employees, officers and directors of the Parties;
(2) Government Officials of the Republic;
(3) employees, officers and directors of an Affiliate;
(4) any professional consultant or agent retained by any Party for
the purpose of evaluating the Confidential Information.
"Affiliate" means a company, partnership or other legal entity which controls,
or is controlled by, or which is controlled by an entity which controls a Party.
For purposes of this definition, control means the ownership, directly or
indirectly, of more than fifty percent (50%) of the shares or voting rights in a
company, partnership or legal entity. As to STPetro, Affiliate includes ERHC.
The obligations contained in this Article shall survive termination of the
Agreement and shall continue until the effective date of the PSC described in
Article VI or Mobil relinquishment of its first refusal right in Article VII,
whichever occurs earlier.
Article IX - Law and Disputes
(1) This Agreement shall be governed by, construed, interpreted and applied
in accordance with substantive laws of the State of Texas, USA to the
exclusion of any conflicts of law rules which would refer the matter to
the laws of another jurisdiction.
(2) Any dispute, controversy or claim arising out of or in relation to or
in connection with this Agreement or the activities carried out under
this Agreement, including without limitation any disputes as to the
construction, validity, interpretation, enforceability or breach of
this Agreement, shall be exclusively and finally settled by arbitration
under the Rules of Conciliation and Arbitration of the International
Chamber of commerce by three arbitrators. Each side shall appoint one
(1) arbitrator within thirty (30) days of the submission of a Notice of
Arbitration. The Party-appointed arbitrators shall in turn appoint a
presiding arbitrator within thirty (30) days following the appointment
of the Party-appointed arbitrators.
(3) The arbitration proceedings shall be held in London, England. The
proceedings shall be conducted in the English language, and the
arbitrators shall be fluent in the English language. The arbitrators
shall have at all times no financial interest in the Parties, dispute,
controversy or claim.
(4) Awards shall be final and not subject to appeal. Judgment upon the
award may be entered in any court having jurisdiction over the party or
the assets of the Party owning
the judgment or application may be made to such court for a judicial
acceptance of the award and an order of enforcement, as the case may
be.
Article X - Notices
Except as otherwise provided, all notices authorized or required between the
Parties by any of the provisions of this Agreement, shall be in writing, in
English and delivered in person, by courier service or by any electronic means
of transmitting written communications and addressed to the Parties as
designated below. Any notice given under any provision of this Agreement shall
be deemed delivered only when received by the Party to whom such notice is
directed, and the time for such Party to deliver any notice in response to such
originating notice shall run from the date the first such notice is received.
"Received" for purposes of this Article with respect to notice delivered
pursuant to this Agreement shall be actual delivery of the notice to the address
of the Party to be notified, specified in accordance with this Article. Each
Party shall have the right to change its address at any time and/or designate
that copies of all such notices be directed to another person at another
address, by giving notice thereof to all other Parties.
Mobil Exploration and Producing Services Inc.
P. O. ▇▇▇ ▇▇▇▇▇▇
▇▇▇▇▇▇, ▇▇▇▇▇ 75265-0232
Attn: ▇▇▇▇▇ ▇▇▇▇▇
Fax: (▇▇▇) ▇▇▇-▇▇▇▇
Republic and STPetro
c/o: Office of the Prime Minister
P. O. Box 302
Attn: for the Republic: Prime Minister
Attn: for STPetro: ▇▇▇▇▇▇ ▇▇▇▇▇, President
Fax: ▇▇▇-▇▇▇-▇▇-▇▇▇▇▇
Article XI - Representation and Warranties
(1) As of the date of signing this Agreement, Mobil represents and warrants
to STPetro and the Republic that:(i)it is duly incorporated and validly
existing under the laws of the State of Delaware, USA;(ii)all requisite
corporate authority or authorizations for the execution delivery and
performance of this Agreement have been obtained and are in effect; and
(iii) execution delivery and performance of this Agreement does not
violate any applicable law or regulation or result in a violation of or
default under any term or provision under any contract or agreement to
which Mobile is a party.
(2) As of the date of signing this Agreement, STPetro represents and
warrants to Mobil and the Republic that: (i) it is duly incorporated
and validly existing under the laws of the Republic; (ii) all requisite
corporate authority or authorizations for the execution delivery and
performance of this Agreement have been obtained and are in effect;
(iii) execution delivery and performance of this Agreement does not
violate any applicable law or regulation or result in a violation of or
default under any term or provision under any
contract or agreement to which STPetro is a party; and (iv) neither
STPetro nor its employees or agents have taken or agreed to take any
action which would result in liability on behalf of Mobil for
commissions, finder's fees or other compensation for services in
connection with this Agreement other than as expressly set out herein.
(3) As of the date of approving this Agreement, the Republic represents and
warrants to Mobil and STPetro that: (i) all requisite authority or
authorizations for the execution delivery and performance of this
Agreement have been obtained and are in effect; (ii) execution delivery
and performance of this Agreement does not violate any applicable law
or regulation or result in a violation of or default under any term or
provision under any contract or agreement to which Republic is a party.
(4) Each Party individually hereby agrees to indemnify, hold harmless and
defend the other Parties from and against any claim, loss or damage
which the other Parties may suffer or incur by reason of breach of the
above representations and warranties.
(5) In the event any warranty or representation contained herein shall
prove to be untrur in any material respect, the Parties shall promptly
meet in order to determine a courts of curative action and adjustment
to the consideration set forth in this Agreement. Remedies set out in
this Article or hereinafter agreed upon shall be cumulative of other
remedies permitted by governing law or this Agreement.
(6) The warranties contained in this Article XI are the only
representations and warranties applicable to this Agreement and no
other representations or warranties, express or implied, shall apply
thereto.
Article XII - Miscellaneous Provisions
(1) Further Performance - Each Party undertakes to execute all other
documents, permits, and agreements as may be required to carry out the
intent of this Agreement.
(2) Fees and Taxes - Mobil and its seismic contractor shall not be required
to pay any duty, fee, levy or tax to STPetro or the Republic on account
of performance in accordance with the terms of this Agreement except
that Mobil or seismic contractor may be required to pay a non-
discriminatory city port fee if such Parties use such facilities to
handle goods or materials. No tax, fee or levy shall be due from Mobil
on account of payments made in accordance with Article V of this
Agreement. No payments of any kind shall be made by Mobil except as
expressly set out herein.
(3) Public Statements - Republic shall be primarily responsible for making
press releases within the Republic provided such releases do not
contain financial or Confidential Information. Mobil or STPetro
individually shall be responsible for preparation and release of press
releases and public statements outside of the Republic with respect to
matters arising in relation to this Agreement, provided such statements
are sent from the Party preparing the release to the other parties at
least twelve (12) hours before release. All Parties shall endeavor in
good faith ot agree on the text and timing of such releases
and statements.
(4) Force Majeure - The non-performance or delay in performance by either
party of any obligation hereunder shall be excused if and to the extent
that, such non-performance or delay is caused by Force Majeure. A Party
whose obligations hereunder have been suspended as a result of Force
Majeure shall resume the performance of such obligations as soon as
reasonably possible after the removal of the cause therefore. The term
"Force Majeure" as used herein shall mean an act of God, strike, act of
a public enemy, war, lightening, fire, storm, flood, explosions,
governmental action or non-action, unavailability of a seismic vessel
or any other cause which is not reasonably within the control of the
Party claiming suspension of its obligations by virtue of such Force
Majeure. The period during which a Force Majeure event is pending shall
be added to the terms of this Agreement provided however that a Force
Majeure event which lasts forup to two years shall cause this Agreement
to terminate unless extended by mutual agreement.
(5) Assignment - No Party may assign any interest, obligation or right
under this Agreement except that Mobil or STPetro may assign its rights
hereunder to an Affiliate, as defined in Article VIII, upon giving the
other Parties prior written notice of such assignment.
(6) Counterparts - This Agreement may be executed in any number of
counterparts in English and Portuguese, each of which when so executed
shall be an original.
(7) Headings - The captions and headings of the Articles of this Agreement
are for convenience only, and shall not be interpreted or construed so
as to limit in any way or change the subject matter of any part of this
Agreement.
(8) Entire Agreement - This Agreement constitutes the full and complete
Agreement of the Parties with respect to the subject matter of this
Agreement and supersedes and cancels all prior agreements and
understandings between the Parties, whether written or oral, expressed
or implied, including but not limited to the Letter of Intent between
MOBIL and STPetro dated 11 August 1998.
(9) Amendments - No amendments changes or modifications to this Agreement
shall be valid unless signed by authorized representatives of the
Parties.
Signed by Mobil and STPetro on the date first written in the Preamble.
Mobil
by_____________________________________
▇.▇.▇▇▇▇▇▇▇▇
Title: President, International Exploration and Producing
STPetro, for and on behalf of the Republic
by:________________________________ by:_____________________________
▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇, ▇▇.
Title: President Title: CEO
Approved by the Republic this the 10th day of September, 1998
------------------------------------------------
Minister ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇, in accordance with written delegation of authority
dated September 7, 1998 for and on behalf of ▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇, Prim Minister.
Appendix "B"
Fiscal Terms
Element Terms Conditions
Bonuses Signature:$** = $** per block Payable to the Republic Discovery and
Commercial Discovery:$** production bonuses are payable on each
Production:$ ** @ first oil; field
$ ** @ 25 TBD sustained;
$ ** @ 50 TBD sustained;
$ ** @ 75 TBD sustained;
$ ** @ 100 TBD sustained
Rentals $ ** per block oPayable to Republic annually on each
non-producing block
Royalty 0 - 25 TBD **% o Based on average daily production from
25 - 50 TBD **% each field
50 - 75 TBD **%
75 - 100 TBD **%
> 100 TBD **%
STPetro Participation [Redacted Rule 24D-2 Confidential o Mobil is entitled to recover the costs
Treatment Application]% participating interest, fully carried on STPetro's behalf
carried through exploration, appraisal and
development to first oil
Profit Splits Tranche Republic Contractor o Based on average daily production from
0 - 50 TBD **% **% each field
50 - 100 TBD **% **%
100- 150 TBD **% **%
150- 200 TBD **% **%
200- 250 TBD **% **%
> 250 TBD **% **%
Cost Recovery o All petroleum operations costs (except bonuses)are o Contractor may recover exploration &
expensed and recoverable out of 80% of the appraisal costs from first available
production remaining after payment of royalty. production on the contract area.
o All unrecovered costs are carried over to the o Contractor will be subject to petroleum
subsequent years. profits tax on the uplift.
o On the last day of each year, any unrecovered costs
will be multiplied by 15% and the
calculated amount (the "uplift") shall be
added to and become part of the petroleum
operations costs.
Depreciation for Tax o Exploration/appraisal costs and bonus payments are
Purposes expensed for tax purposes
o All other capital depreciated over 4 years, straight
line
Petroleum Profits Tax **% o Assumed rate, payable to the Republic
Development Period ** years after commercial discovery declared
Training $ ** per year
Infrastructure,
public works $ ** year during production o Payments commence in
the year of first oil production development
Additional Royalty due 1% due on production from **; o Due on the entire contract area if Mobil
in consideration for 2% due on production from **; selects any of the Optional Block
optional Block Nomin- 3% due on production from ** and over Nomination Area
ation Area selection
Other o No taxes, duties, fees or payments
applicable other than those noted in TAA.
**[Redacted Rule 24b-2 Confidential Treatment Application]
MEMORANDUM
SEPTEMBER 10, 1998
Reference is made to the English text of the Technical Assistance Agreement
("TAA"), signed today between Mobil Exploration and Producing Services Inc. and
STPetro S.A. and approved by the Democratic Republic of Sao Tome and Principe
(collectively called the "Parties"). Attached to this Memorandum is an
unofficial Portugese text of the TAA.
The Parties undertake to review and revise the Portuguese text as soon as
reasonably practical with the intent of approving, ratifying and confirming a
mutually agreeable Portugese text which is consistent with the English test.
Nothing in this memorandum shall be construed to modify or affect the effective
date of the TAA as provided for therein.
Mobil
by:__________________________________
STPetro
by:__________________________________ by:_______________________________
President CEO
Republic
by:________________________________
ACORDO DE ASSISTENCIA TECNICA
Este acordo sobre assistencia tecnica ("Acordo") entabulado em 10 de
setembro de 1998 entre a Republica Democratica de Sao Tome e Principe
("Republic") e a Empresa de Petroleo de Sao Tome e Principe S.A. (STPetro), uma
empresa publica organizada conforme as ▇▇▇▇ da Republica e a Mobil Exploration
and Producing Services Inc. ("Mobil"), uma empresa organizada conforme as ▇▇▇▇
do Estado de Delaware, Estados Unidos da America (A Republica, a STPetro e a
Mobil sae doravante denominadas colectivamente como "as Partes").
ACORDO DE ASSISTENCIA TECNICA
Este acordo sobre assistencia tecnica ("Acordo") entabulado em 10 de
setembro de 1998 entre a Republica Democratica de Sao Tome e Principe
("Republica") e a Empresa de Petroleo de Sao Tome e Primcipe S.A. (STPetro), uma
empresa publica organizada conforme as ▇▇▇▇ da Republica e a Mobil Exploration
and Producting Services Inc. ("Mobil"), uma empresa organizada conforme as ▇▇▇▇
do Estado de Delaware, Estados Unidios da America (a Republica, a STPetro e a
Mobil sao doravante denominadas colectivamente como "as Partes").
CONSIDERANDO:
A. Por meio de diversos memorandos de acordo, oficios e estipulacoes
entabuladas de um lado pela Republica e,por outro lado, pela Environmental
Remediation Holding Corp. ("ERHC") e Procura Financial Consultants C.C.("PFC"),
a ERHC/PFC concordou em realizar uma avaliacao e um estudo de viabilidade sobre
as reservas de petroleo, minerios e gas na Republica, em troca da concessao de
petroleo e gas a um consorcio empresarial constituido pela Republica, pela ERHC
e pela PFC, cuja documentacao inclui mas nao se circunscreve a:
i) Carta de entendimento entre a Republica e a ERHC, de 18 ▇▇ ▇▇▇▇ de 1997,
ii) Memorando de Acordo ("MDA") entre a Republica, por um lado, e a
ERHC/PFC, por outro lado, de 27 ▇▇ ▇▇▇▇ de 1997,
iii) Um memorando de entendimento entre a Republica e a ERHC/PFC de 29 de
julho de 1997,
iv) Memorando de Entendimento entre a Republica e a ERHC, de 30 de setembro
de 1997, e
v) Estipulacoes entre a Republica e a ERHC, de 20 de novembro de 1997.
(2) Conforme o acordo de 18 agosto de 1998, a PFC artribuiu e transferiu a
ERHC todos os direitos e obrigacoes da PFC no empreendimento, nos termos dos
documentos descritos no preambulo A, acima, alem de todos os outros acordos
conexos.
(3) Em julho de 1998, o conforcio STPetro foi criado pela Republica e pela
ERHC em conformidade com o artigo ▇▇ (▇) ▇▇ ▇▇▇▇▇▇▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇▇▇▇▇, mediante
o decreto-lei 27/98, para dedicar-se a actividades relacionadas com a exploracao
do gas e do petroleo, alem de outras actividades conexas descritas no referido
decreto-lei.
(4) A Republica deseja contar com uma avaliacao tecnica e um estudo de
viabilidade do potencial da exploracao de petroleo e gas realizado em uma parte
do territorio da Republica descrita como blocos de 1 a 22 e areas adicionais na
plataforma continentall, como constantes do mappa apenso, Apendice "A"
("Superficie").
(5) A Mobil esta disposta a empreender a avaliacao tecnica e o estudo de
viabilidade do potencial da exploracao de petroleo e gas na "Superficie" e, em
conformidade com as condicoes deste acordo, participar com a STPetro na
exploracao, desenvolvimento e producao de petroleo.
Em consequencia, as Partes acordam O seguinte:
Artigo I - Termo
Este acordo entrara em vigor ao ser subscrito pela STPetro e pela Mobil
apos a data da sua aprovacao pela Republica, tal como confirmado pela pagina de
subscricao ("data de vigencia") e ▇▇▇▇▇▇ caducar 18 meses apos a data de
vigencia. Se este acordo nao for aprovado pela Republica ate 31 de outubro de
1998, sera cancelado e anulado.
Artigo II - Avaliacao
Durante a vigencia deste acordo, a Mobil realizara uma avaliacao tecnica e
um estudo de viabilidade do petencial da exploracao de petroleo e gas na
superficie e apresentara um relatorio escrito sobre as suas descoberta
("Relatorio de Avaliacao").
Artigo III - Levantamento sismico
Como parte da sua avaliacao tecnica, a Mobil realizara ou encomendara um
levantamento sismico de reconhecimento da superficie em duas dimensoes. Esse
levantamento sera de qualidade e quantidade suficiente e levara ▇▇ ▇▇▇▇▇ todas
as informacoes goecientificas preexistentes, para a elaboracao do relatorio de
avaliacao. A Mobil ▇▇▇▇▇▇ configurar o programa e negociar a aquisicao de dados
sismicos directamente com uma empreiteira sismica. Alem disso a Mobil tera o
direito de examinar e copiar gratuitamente quaisquer outras informacoes
geocientificas de posse da STPetro ou da Republica que possam incidir sobre a
avaliacao da superficie pela Mobil. Durante a vigencia ▇▇▇▇▇ acordo, os dados
sismicos adquiridos ou processados bem como todas as informacoes geradas pelos
funcionarios da Mobil serao da propriedade da Mobil. Sujeitos a quaisquer
direitos da emprieteira sismica, no vencimento deste acordo, os dados sismicos
adquiridos e processados no area abrangida pelo Contrato de Partilha da Producao
(CPD) na qual a Mobil mantiver interesse passarao a ser propriedade conjunta das
partes e outros dados fisicos passarao a ser de propriedade da STPetro e da
Republica. A Republica por meio deste cede todos os direitos que a Mobil e os
seus subempreiteiros possam necessitar para realizar o referido levantamento
sismico. Durante o levantamento, a STPetro tera o direito de designar um maximo
de ate 3 (tres) representantes da Republica e da STPetro para acompanhar o navoi
sismico durante a colecta dos dados sismicos, dependendo da lotacao do navio e
da consentimento do empreiteiro sismico
Artigo IV - Relatorio de Avaliacao
Ate um (1) ano antes da data de vigencia, a Mobil ▇▇▇▇▇▇ realizar uma
resenha do profresso registrado pelo programa sismico e do Relatorio de
Avaliacao para a Republica e a STPetro e
▇▇▇▇▇▇ ▇ ▇▇▇▇ divulgar as concllusoes preliminares que tiverem sido
definidas no diz respeito ao potencial da exploracao de petroleo e gas na
referida superficie. Ate o momento do vencimento deste Acordo, a Mobil ▇▇▇▇▇▇
encaminhar a Republica e a STPetro um relatorio de avaliacao por escrito do qual
constara o potencial da exploracao da superficie. O relatorio de avaliacao
▇▇▇▇▇▇ incluir uma interpretacao sismica, caracteristicas geologicas, inclusive
interpretacao estratigrafica, geoquimica (dependendo da disponibilidade de
dados), potencial da reserva e avaliacao de riscos, alem de apresentar as
conclusoes sobre o potencial da exploracao de petroleo e gas. Embora a Mobil
deva elaborar o relatorio de avaliacao usando praxes padronizadas e aceitaveis
pela industria internacional do petroleo, as Partes reconhecem que as conclusoes
geocientificas sao inerentemente incertas. Consequentemente, a Mobil nao garante
nem afirma que as informacoes que constam do relatorio de avaliacao sejam
acuradas ou confiaveis e que as conclusoes retiradas do relatorio correrao por
contao, risco e custos da Parte ou de qualquer recipiente que possa extrair tais
conclusoes.
Artigo V- Compensacoes
Como compensacao pela concessao de direitos para realizar a avaliacao
tecnica e o estudo de viabilidade juntamente com o direito de, em certas
condicoes, participar com a STPetro em outras exploracoes, desenvolvimento e
producao do petroleo, a Mobil pagara os seguintes ▇▇▇▇▇▇▇▇▇:
a) todos os custos e despesas da colecta de dados sismicos e de
reprocessamento (pagaveis directamente a subempreiteiros);
b) a importancia de [Redacted Rule ▇▇▇-▇ ▇▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇] ▇▇▇▇▇▇▇
▇▇▇▇▇▇ (▇▇ $ [Redacted Rule 24b-2 Confidential Treatment]) a Republica ate dez
(10) ▇▇▇▇ apos a data de vigencia deste Acordo;
c) a imporancia de [Redacted Rule 24b-2 Confidential Treatment] Estados
Unidos (US$[Redacted Rule 24b-2 Confidential Treatment]) a Republica numa data
nove (9) meses apos a data de vigencia deste Acordo;
d) se a Mobil exercer o seu direito de primeira recusa segundo em
conformidade com o artigo VII, STPetro recebera [Redacted Rule 24b-2
Confidential Treatment]% dos interesses do empreiteiro no CPP ate a primeira
producao pela Mobil, sujeitos a recuperacao dos custos pela Mobil.
Se a data nas alieneas (b) ou (c) cair em um ▇▇▇▇▇▇, ▇▇▇▇▇▇▇ ou feriado
bancario, o pagamento sera efectuado no proximo dai util em Dallas, Texas,
Estados Unidos da America. Os pagamentos a Republica serao efectuados por meio
de trasnferencia electronica a uma conta bancaria no nome da Republica que sera
designada por escrito a Mobil pelo Ministro do Plano e da Fazenda.
Artigo VI - Negociacoes sobre contrato de partilha da producao
Durante a vigencia deste acordo, a Mobil tera direito exclusivo de negociar
com a STPetro com vista a um CPP mutuamente aceitavel. Tais negociacoes serao
iniciadas o mais prontamente possivel apos a entrada em vigor deste Acordo e
serao realizadas em boa-fe e com diligencia pelas partes. Os seguintes
principios e termos essenciais serao incorporados aos termos do CPP e a outros
termos a serem negociados:
(1) Ressarcimento de custos pelo empreiteiro relativamenta a todos os
custos operacionais de petroleo o que ▇▇▇▇▇▇ incluir todos os custos de colecta
de dados sismicos incorridos pela Mobil segundo os termos deste acordo. Embora o
seu custo nao seja recuperavel, os pagamentos de bonificacoes gozarao de deducao
tibutaria.
(2) A obrigacao da perfuracao e exploracao de dois pocos dentro dos
primeiros dezoito meses apos a data de vigencia do CPP, sujeita a postergacao
caso a perfuracao tenha um impacto sobre a resolucao de quaisquer reivindicacoes
fronteiricas pendentes por parte de outros paises.
(3) Uma bonificacao de assinatura pagavel pela Mobil na data de vigencia do
CPP calculada como a soma de: (i) [Redacted Rule 24b-2 Confidential Treatment]
Estados Unidos (US$[Redacted Rule 24b-2 Confidential Treatment]) mais (ii)
[Redacted Rule 24b-2 Confidential Treatment] Estados Unidos (US$[Redacted Rule
24b-2 Confidential Treatment]) por bloco, tal como designado no mapa da
superficie apenso, sujeito a adiamento dos ▇▇▇▇▇▇▇▇▇ referidos no paragrafo (ii)
acima para cada bloco que ▇▇▇▇▇ ▇▇▇ fronteir ainda sujeita a reivindicacoes
pendentes por outro ou outros paises na regiao.
(4) O direito do empreiteiro de exportar livrementa a sua parte da producao
e de exportar e ▇▇▇▇▇▇ no exterior os proventos da venda da sua parte da
producao.
(5) O pagamento pelo empreiteiro de US $[Redacted Rule 24b-2 Confidential
Treatment] por bloco em alugueres anuais apos o primeiro ano para postergar a
exploracao, producao ou cisa para blocos individuais nos quais as operacoes de
perforacao nao tiverem ocorrido.
(6) A avaliacao da producao para fins de ressarcimento de custos, pagamento
de direitos de exploracao e determinacao da tributacao do empreiteiro sera fieta
na base de precos liquidos realizados.
(7) Um dispositivo de arbitragem sera utilizado em um foro neutro para
resolver litigios segundo regras aceitas internacionalmente.
(8) Ratificacao do CPP por meio de um processo de legalizacao para
efectivar o CPP sob a forma de lei da Republica.
(9) A moeda sera convertida pelo contravalor do ▇▇▇▇▇▇▇.
(10) A contabilidade sera mantida em dolares dos Estados Unidos.
(11) A liberdade de importacao e exportacao de bens, materiais e servicos
pela Mobil, suas afiliadas e subempreiteiras.
(12) Direito do empreiteiro de trasnferir interesses no CPP sem
penalidades, sujeito a aquiescencia da STPetro e da Rupublica, s quais nao
deverao ser retidos de maneira nao razoavel.
(13) Dispositivo de forca-maior para escusar obrigacoes.
(14) Clausulas estruturais para garantir credito por imposto ▇▇ ▇▇▇▇▇ pago
a Republica para fins tributarios nos Estados Unidos, isencao de quaisquer
outros impostos e taxes e uma clausula sobre estabilidade tributaria.
(15) Condicoes para partilha da producao descritas no apendice B apenso.
(16) A Mobil sera a operadora segundo os termos do CPP e sujeita aos termos
de um Acordo Operacional Conjuncto a ser negociado entre a Mobil e a STPetrol.
Artigo VII - Direito de Primeira Recusa
Como compensacao a Mobil por servicos prestados e pagamentos nos termos
deste acordo, a Repbulica concede a Mobil por este meio o direito de primeira
recusa na aquisicao do CPP a ser atribuido sobre toda ou sobre uma parte da
superficie a ser designada pela Mobil segundo os termos negociados, em
conformidade com o artigo VI. A Mobil ▇▇▇▇▇▇ exercer os seus direitos da
seguinte forma:
Antes do vencimento desde acordo, a Mobil ▇▇▇▇▇▇ notificar por escrito a
STPetro que: (i) exercera o direito de entrar num CPP na totalidade ou em parte
da superficie (com descricao dessa parte). Ou (ii) renunciando a esse direito.
Dentro de 30 ▇▇▇▇ (▇▇▇▇▇▇) apos a notificacao pela Mobil de que estara exercendo
o seu direito, a Republica, a STPetro e a Mobil (ou a sua afiliada) deverao
executar o referido CPP.
▇▇ ▇▇▇▇▇ de um ou varios blocos designados de 1 a 22, a Mobil podera
designar e escolher um ou mais blocos adjacentes a superficie no sentido sul,
como consta do mapa apenso marcado como Apendice "A" ("Area de Designacao de
Bloco Optativo) exclusive areas a profundidades inferiores a 1500 metros. Tais
blocos serao de dimensao identica aos blocos da superficie contanto que a Mobil
nao escolha um total superior a 22 blocos. A configuracao dos blocos designados
naovment estara sujeita a um acordo mutuo entre as partes. Com excepcao das
clausulas deste Acordo, qualquer bloco ou blocos novamente designados estara
sujeito aos mesmos termos e condicoes deste acordo, aplicaveis a superficie
designada inicialmente. Como compensacao pela cessao do direito de primeira
recusa na Area de Designacao de Bloco Optativo, a Mobil concordo em pagar
direitos adicionais de exploracao sobre a producao de qualquer campo abrangido
pelos termos do CPP na seguinte proporcao.
Producao acumulada Direitos adicionais de exploracao
[Redacted Rule 24b-2 Confidential Treatment] 1%
[Redacted Rule 24b-2 Confidential Treatment] 2%
[Redacted Rule 24b-2 Confidential Treatment] e mais ▇▇▇▇▇▇ 3%
Tais direitos adicionais de exploracao serao acrescentados aos direitos
pagaveis em conformidade com o CPP, como estipulado no Apendice B.
Artigo VIII - Confidencialidade
As parte manterao em sigilo, sem divulgar a terceiras partes, informacoes
relativas aos termos deste acordo, a todas as negociacoes do CPP, a todas as
comunicacoes por escrito entre as Partes referentes ao terma da renegociacao
deste Acordo ou das negociacoes sobre o CPP, a todas as informacoes
geocientificas legadas a superficie e ao relatorio de avaliacao (denominados
colectivamente "informacoes confidenciais"). As iinformacoes que estiverem no
dominio publico na data de efectivacao deste acordo, nao serao consideradas
informacoes confidenciais.
As informacoes confidenciais poderao ser reveladas a:
(1) funcionarios, titulares e directores das partes;
(2) funcionarios do governo da Republica;
(3) funcionarios titulares e directores de uma afilada;
(4) Qualquer consultor ou agente profissional contratado por qualquer das
partes par avaliar as informacoes confidenciais.
"Afiliada" significa uma empresa sociedade ou outra entidade legal que
controle ou seja controlada por meio de uma entidade que controla ▇▇▇ ▇▇▇
Partes. Para os fins ▇▇▇▇▇ definicao, controle significa a proopriedade directa
ou indirecta de mais de 50 por cento das accoes ou de direitos de voto numa
empresa, sociedade ou entidade legal. No que diz respeito a STPetro, a Afiliada
inclui a ERHC.
As obrigacoes constantes deste Artigo perdurarao apos o vencimento deste
acordo ate a data de vigencia do CPP descrito no artigo VI ou ate que a Mobil
renuncie ao seu direito de premeira recusa mendionado no Artigo VII ou o que
ocorrer primeiro.
Artigo IX - Direito e litigios
A. Este Acordo sera regidom interpretado, considerado e aplicado consoante
as ▇▇▇▇ fundamentais do Texas, Estados Unidos, com a exclusao de
quaisquer normas sombre conflito de direito que submerteriam a materia
as ▇▇▇▇ de outra juridicao.
B. Qualquer litigo, controversia ou reivindicacao resultant deste acordo ou
a ele referente ou a ele vinculado ou referente z actividades empreendidas nos
termos deste Acordo, inclusive e nao limitadas a quaisquer construcao, validade,
imterpretacao, cumprimento
ou infraccao deste Acordo sera solucionado final e exclusivamente por
arbitragem, segundo as normas de conciliacao e arbitragem ▇▇ ▇▇▇▇▇▇ de Comercio
Internacional por tres arbitros. Cada parte ▇▇▇▇▇▇ nomear um arbitro 30 (trinta)
▇▇▇▇ apos a apresentacao de uma Notificacao de Arbitragem. Por sua vez, os
arbitros nomeados pelas Partes deverao nomear um arbitro presidente dentro de
▇▇▇▇▇▇ ▇▇▇▇ apos a nomeacao dos arbitros sufragados pelas Partes.
C. Os procedimentos de arbitragem terao ▇▇▇▇▇ ▇▇ Londres, na Inglaterra. Os
procedimentos serao realizados no idioma ingles e os arbitros deverao falar o
idioma ingles fluentemente. Em momento algum poderao os arbitros ter quaisquer
interesses financeiros nas Partes, no litigo, na controversia ou na
reivindacacao.
D. As decisoes serao definitivase nao estrao sujeitis a recurso. As
decisoes sobre o ressarcimento serao impetrados em qualquer tibunal que tenha
jurisdicao sobre as Partes ou sobre o patrimonio da Party perdedora ▇ ▇ ▇▇▇▇▇▇▇
podera ser apresentada ao tribunal no sentido da aceitacao judicial do
ressarcimento e de um ▇▇▇▇▇▇▇ de execucao, conforme for o caso.
Artigo X - Avisos
Amenos que se disponha de outa forma, todos os avisos autorizados ou
requeridos entre as Partes por quaisquer disposicoes deste Acordo serao feitas
por excrito, ▇▇ ▇▇▇▇▇▇ e entregues ▇▇ ▇▇▇▇▇▇, por servico de entregas ou por
qualquer meio electronico de transmissao de comunicacoes escritas e enderecados
as Partes abaixo designadas. Qualquer aviso dado nos termos de qualquer
disposicao deste Acordo so sera considerado entreque quando tiver sido recbido
pela Parte a qual o aviso for destinado e o prazo para que tal Parte entregue
qualquer aviso em resposta ao aviso que o originou comecara da data em que o
primeiro aviso tiver sido recebido. Para os fins deste Artigo, no que diz
respeito a aviso entregue nos termos deste Acordo, "recebido" sera a entrega
real do aviso no endereco da Parte a ser notificada, especificado em
conformidade com este Artigo. Mediante aviso a todas as outras partes, cada
Parte tera o direito de mudar o seu endereco em qualquer momento e de designar
que as copias de todos ▇▇▇▇▇ avisos sejam endercadas a outra pessoa, em outro
endereco.
Mobil Exploration and Producing Services Inc.
P. O. ▇▇▇ ▇▇▇▇▇▇
▇▇▇▇▇▇, ▇▇▇▇▇ 75265-0232
Attn: ▇▇▇▇▇ ▇▇▇▇▇
Fax: (▇▇▇) ▇▇▇-▇▇▇▇
Republic e STPetro
Aos cuidados do Gabinete do Primeiro Ministro
Caixa Postal 302
Atencao: para a Republica: Primeiro Ministro
Atencao: para a STPetro: ▇▇▇▇▇▇ ▇▇▇▇▇, Presidente
Fax: ▇▇▇-▇▇▇-▇▇-▇▇▇▇▇
Artigo XI - Declaracoes e Autorizacoes
(1) Na data da assinatura deste Acordo, a Mobil declara e garante a STPetro
e a Republica que : (i) esta devidamente constituida e funciona oficialmente de
acordo com as ▇▇▇▇ do Estado de Delaware, USA; (ii) todas as autorizacoes
empresariais pertinentes ou facudldades para a conclusao da execucao e o
cumprimento deste Acordo foram obtidas e estao em vigor; e (iii) a conclusao da
execucao e cumprimento deste Acordo nao infringem as leisou regulamentos
aplicaveis nem representarm uma infraccao de falta de cumprimento de qualquer
termo ou clausula ou acordo do qual a Mobil for Parte.
(2) Na data da assinatura deste Acordo, a STPetro declara e garante a Mobil
e a Republica que: (i) esta devidamente constituida e funciona oficialmente de
acordocom as ▇▇▇▇ da Republica; e (ii) todas as autorizacoes ou faculdades da
empresa para o cumprimento e a execucao deste Acordo ja foram obitas e
encontram-se em vigor; (iii) a conclusao da execucao e o cumprimento deste.
Acordo nao infringem quaisquer ▇▇▇▇ ou regulamentos aplicaveis nem ocasionarao a
infraccao ou falta de cumprimento segundo os termos e clausulas de qualquer
contrato ou acordo do qual a STPetro for parte; e (iv) nem a STPetros nem os
seus funcionarios ou agentes tomaram ou concordaram ▇▇ ▇▇▇▇▇ quaisquer
providencias que poderaiam ocasionar reaponsabilidade dolsa da Mobil em termos
de comissoes, honorarios de agentes ou quaisquer outras remuneracoes por
servicos prestados consoante este Acordo, a nao ser aqueles estipulados
expressamente no mesmo.
(3) Na data da ratificacao deste acordo, a Republica declara e garante a
Mobil e a STPetro que:(i) todas as autorizacoes ▇▇▇▇▇▇▇ ou faculdades para a
conclusao da execucao e o cumprimento deste Acordo foram obtidas e estao em
vigor; (ii) a conclusao da execucao e o cumprimentop deste Acordo nao infringem
quaisquer ▇▇▇▇ ou regulamentos aplicaveis nem ocasionarao a infraccao ou falta
de cumprimento sugundo os termos e clausulas de contrato ou acordo do qual a
Republica faca parte.
(4) Cada Parte concorda em indemnizar, ▇▇▇▇▇▇ a ▇▇▇▇▇ e defeder as demais
Partes de quaisquer litigis, perdas ou ▇▇▇▇▇ que as demais partes possam vir a
sofrer ou nos quais possam incorrer em ▇▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇ de cumprimento das
declaracoes e garantias supracitadas.
(5) Caso qualquer declaracao ou garantia ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ Acordo se revele
infundada no que diz respeio a qualquer aspecto pertinente, as Partes se
reunirao imediatamenta a fim de divisar correctivos e ajustes as compensacoes
prescritas neste Acordo. Os correctivos prescritos neste Artigo ou nos artigos
convidos a partir daquele momento serao de caracter cumulativo, alem dos outros
correctivos facultados pela lei em vigor ou pelo presente Acordo.
(6) As garantias constantes deste Artigo XI constituem apenas declaracoes e
garantias aplicaveis a este Acordo e nenhuma outra declaracao ou garantia,
expressa ou implicita,
sera aplicavel ao mesmo.
Artigo XII - Disposicoes gerais
(1) Desempenho futuro - As Partes compromentem-se a executar a todos os
outros documento, alvaras, e acordos necessarios para a consecucao dos fins
precipuos deste Acordo.
(2) Taxas e emolumentos - Nem a Mobil nem o empreiteiro sismico serao
obrigados a pagar quisquer direitos, taxas, emolumentos e impostos a STPetro ou
a Republica a titulo do desempenho dos termos deste Acordo, embora se possa
requerer que a Mobil e a empreiteira sismica paguem ▇▇▇ ▇▇▇▇ protuaria municipal
nao-discriminatoria se essas partes usarem tais instalacoes para o transporte de
bens ou materiais. Nenhuma tasa, honorario ou emolumento serao devidos pela
Mobil a titulo de pagamentos feitos de acordo com o Artigo V deste Acordo. A
Mobil nao fara qualquer tipo de pagamento salvo aqueles expressamente
estipulados neste Acordo.
(3) Declaracoes publicas - A Republica assumira responsabilidade primordial
pelas comunicacoes a imprensa no territorio nacional, desde que tais
comunicacoes nao contenham informacoes financeiras ou confidenciais. A mobil e a
STPetro serao responaveis pela elaboracao e divulgacao de todos os comunicados a
imprensa e declaracoes publicas fora do territoio da Republica relativamente a
questoe advindas em virtude deste Acordo, desde que tais declaracoes sejam
enviadas a cada Parte com antecdencia minima de 12 horas antes da divulgacao.
Todas as Partes procurarao de boa- fe acordar no que diz respeito a formulacao e
a oportunidade da divulagacoes e comunicados.
(4) Forca-maior - A falta de cumprimento ou atrasos no desempenho por
qualquer das Partes de qualquer obrigacao por meio deste Acordo serao escusados
desde que os atrasos ou a falta de cumprimento tenham sido causados por motivos
de forcamaior. A Parte cujas obrigacoes contratuais tiverem diso sustadas em
virtude de forcamaior ▇▇▇▇▇▇ reinicaiar o desempenho de tais obrigacoes tao
pontamente quanto for possivel, uma vez sustada a causa dos mesmos. A expressao
"forcamaior" usada neste Acordo significa acto da Providencia, ▇▇▇▇▇ actos de um
inimigo publico, guerra, raios, incendios, inunbdacoes, tempestades, explosoes,
accao ou inaccao do Governo, indiponibilidade de navio sismico ou qualquer outr
causa que razoavelmente estiver fora do controle da Parte que solicitar
suspensao das suas obrigacoes em virtude da forca-maior aludida. O periodo
estiver pendente sera acrescentado aos prazos deste Acordo. Nao obstante, um
evento de forca- maior que perdure por mais de dois anos ocasionara a resciasao
deste Acordo, a menos que seja prorrogado por deciasao mutua.
(5) Designacao - Nenhuma das Partes podera ceder qualquer intersse,
obrigacao ou direito consoante este Acordo salvo que a Mobil ou a STPetro
poderao ceder os seus direitos constantes deste Acordo a uma afilida, tal como
definida no Artigo VIII, mediante aviso previo as demais Partes, por excrito da
referida designacao.
(6) Exemplares - Este Acordo sera executado em um numero indefinido de
exemplares ▇▇
▇▇▇▇▇▇ e em portugues, quando assim executado cada um deles sera
considerado original.
(7) Titulos - As legendas e titulos dos artigos deste Acordo destinam-se
unicamente a facilitar a leitura e de forma alguma deverao ser considerados ou
interpretados de caracter limitativo nem alterarao o tema precipuo de cada parte
deste Acordo.
(8) Totalidade do Acordo - Este Acordo constitui um acordo pleno e completo
entre as Partes Concernente ao tema precipuo deste ▇▇▇▇▇ e anula e suplanta
todos os acordos e entendimentos anteriores entre as Partes, tenham eles sido
excritos, orais, expressos ou implicitos, inclusive embora nao estejam
circunscritos a Carta de Intencoes cursada entre a Mobil e a STPetro em 11 ▇▇
▇▇▇▇▇▇ de 1998.
(9) Emendas - Quaisquer emendas ou modificacoes a este Acordo so terao
validade quando tiverem sido assinadas pelos representantes autorizados das
Partes.
Assinado pela Mobil e pela STPetro na data que constou primeiramente do
Preambulo.
Mobil
by_____________________________________
▇.▇.▇▇▇▇▇▇▇▇
Titulo: Presidente, Exploracao e Producao Internacional
STPetro, em nome e pela Republica
by:________________________________ by:_____________________________
▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇, ▇▇.
Titulo: Presidente Titulo: Administrador-Geral
Ratificado pela Republica neste Decimo dia de Setembro de 1998
------------------------------------------------
Ministro ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇, em conformidade com delegacao escrita de
autoridade datada de 7 de setembro de 1998, em nome de ▇▇▇▇ ▇▇▇▇▇▇▇▇ Neto,
Primeiro-Ministro.
Appendix "B"
Fiscal Terms
Element Terms Conditions
Bonuses Signature:$** = $** per block Payable to the Republic Discovery and
Commercial Discovery:$** production bonuses are payable on each
Production:$ ** @ first oil; field
$ ** @ 25 TBD sustained;
$ ** @ 50 TBD sustained;
$ ** @ 75 TBD sustained;
$ ** @ 100 TBD sustained
Rentals $ ** per block oPayable to Republic annually on each
non-producing block
Royalty 0 - 25 TBD **% o Based on average daily production from
25 - 50 TBD **% each field
50 - 75 TBD **%
75 - 100 TBD **%
> 100 TBD **%
STPetro Participation [Redacted Rule 24D-2 Confidential o Mobil is entitled to recover the costs
Treatment Application]% participating interest, fully carried on STPetro's behalf
carried through exploration, appraisal and
development to first oil
Profit Splits Tranche Republic Contractor o Based on average daily production from
0 - 50 TBD **% **% each field
50 - 100 TBD **% **%
100- 150 TBD **% **%
150- 200 TBD **% **%
200- 250 TBD **% **%
> 250 TBD **% **%
Cost Recovery o All petroleum operations costs (except bonuses)are o Contractor may recover exploration &
expensed and recoverable out of 80% of the appraisal costs from first available
production remaining after payment of royalty. production on the contract area.
o All unrecovered costs are carried over to the o Contractor will be subject to petroleum
subsequent years. profits tax on the uplift.
o On the last day of each year, any unrecovered costs
will be multiplied by 15% and the
calculated amount (the "uplift") shall be
added to and become part of the petroleum
operations costs.
Depreciation for Tax o Exploration/appraisal costs and bonus payments are
Purposes expensed for tax purposes
o All other capital depreciated over 4 years, straight
line
Petroleum Profits Tax **% o Assumed rate, payable to the Republic
Development Period ** years after commercial discovery declared
Training $ ** per year
Infrastructure,
public works $ ** year during production o Payments commence in
the year of first oil production development
Additional Royalty due 1% due on production from **; o Due on the entire contract area if Mobil
in consideration for 2% due on production from **; selects any of the Optional Block
optional Block Nomin- 3% due on production from ** and over Nomination Area
ation Area selection
Other o No taxes, duties, fees or payments
applicable other than those noted in TAA.
**[Redacted Rule 24b-2 Confidential Treatment Application]