Tanzania issues tougher standards for production sharing deals

11/5/2013 | Reuters

Tanzania's new standards for production sharing agreements contain tougher exploration and development conditions for energy producers, experts say. The standards set a 12.5% royalty rate of total onshore oil and natural gas production, a 7.5% royalty rate for offshore output and a $5 million required production bonus payable during the start of production. "It's a significant toughening of the fiscal terms," said Bill Page, energy and resources leader at Deloitte Consulting Tanzania.

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