Units, UK partner to end risk sharing contract for offshore oilfield


Dateline 2016-07-11, Asia Review:

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Risk sharing contracts were introduced by Petronas in an attempt to develop smaller and marginal oilfields and increase oil recovery amid depleting fossil fuel resources in Southeast Asia’s third largest economy. Unlike traditional production sharing contracts, parties bound under risk sharing pacts enjoy a prior-agreed rate of return, while risks are shared even if an exploration fails to yield results.

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