Attached files
FIRST ADDENDUM TO THE PRODUCTION SHARING CONTRACT BY AND BETWEEN
THE DEMOCRATIC REPUBLIC OF SAO TOME AND PRINCIPE REPRESENTED BY THE
AGENCIA NACIONAL DO PETROLEO OF SAO TOME AND PRINCIPE AND
KOSMOS ENERGY SAO TOME AND PRINCIPE FOR
BLOCK 11
Addendum Executed 17 day of December 2015
THIS ADDENDUM TO THE PRODUCTION SHARING CONTRACT is entered into on 17 December 2015 among:
(1) THE DEMOCRATIC REPUBLIC OF SAO TOME AND PRINCIPE (the "State") represented by the Agencia Nacional do Petr6leo de Sao Tome e Principe, ("ANP-STP");
(2) KOSMOS ENERGY SAO TOME AND PRINCIPE, a company organized and established under the laws of the Cayman Islands, whose registered office is located at 4th Floor, Century Yard, Cricket Square, Hutchins Drive, Elgin Avenue, George Town, Grand Cayman KY l-1209, Cayman Islands, hereinafter named ("Kosmos");
WHEREAS
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A. |
ANP and ERHC ENERGY EEZ, LDA ("EHRC") are parties to the Production Sharing Contract signed with the State on 23 July, 2014 (the "Contract"), in pursuance of which EHRC have obtained the exclusive right to undertake petroleum operations in Block 11 within the Exclusive Economic Zone of Sao Tome and Principe; |
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B. |
Under article 19 of the Contract EHRC and Kosmos executed on 16 October 2015 the Deed of Assignment by way of which EHRC assigned one hundred percent (100%) of its eighty-five percent (85%) participating interest in the Contract to Kosmos, which consequently made the percentage interests held by the parties in the Contract to be the following as of that date: |
ANP-STP - fifteen per cent (15%); KOSMOS - eighty-five per cent (85%);
IT IS AGREED:
The State, ANP-STP and Kosmos (hereinafter collectively identified as the "Parties") hereby execute this addendum to the Contract (the "Addendum"), subject to the following terms and conditions:
1. Capitalized terms in this Addendum not specifically defined herein shall have the same meaning as defined in the Contract.
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1. Clause 7.2 of the Contract is amended by deleting the Phase I Minimum Work Obligation and replacing said Phase I Minimum Work Obligation with the following: |
Phase I: The Contractor shall:
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carry out environmental studies; |
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acquire of magnetic and gravity surveys covering 2.000 km2; |
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acquire, process and interpret a minimum of 2.000 km2 3D seismic; |
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hand over full documentation of the interpretation and an extensive evaluation report covering all relevant stratigraphic levels in the full block, based on all newly acquired 3D data - to ANP-STP no later than 3 months before the expiry of phase I. |
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2. |
Clause 28 of the Contract is amended as follows: |
"28.1 KOSMOS ENERGY SAO TOME AND PRINCIPE is hereby designated as the Operator under this Contract"
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3. |
Clause 30 of the Contract is amended as follows: |
"30.1 Any notice or other communication required to be given by a Party to
another shall be in writing ( in Portuguese and in English) and shall be considered as duly delivered if given by hand delivery in person, by courier or by facsimile at the following addresses:
Agencia Nacional do Petroleo (ANP-STP)
Avenida das Nacoes Unidas, 225 C.P.1048
Sao Tome, Sao Tome and Principe Attention: Executive Director
Fax: +239-2226937 Tel: +239-2226940
E-mail: anp geral @cstome.net
KOSMOS ENERGY SAO TOME AND PRINCIPE
4th Floor, Century Yard, Cricket Square,
Hutchins Drive, Elgin Avenue,
George Town, Grand Cayman KY 1-1209, Cayman Islands
Attention: License Manager
Fax: +1 214 445 9705
Tel: +1 214 445 9600
(This address will be replaced by an address located in Sao Tome e Principe within 30 days)
E-mail: SaoTomeLicenseManager@ KosmosEnergy.com Cc:E-mail: KosmosGeneralCounsel@ KosmosEnergy.com "
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4. All the remaining provisions of the Contract, which are not expressly modified by this Addendum, shall remain in full force and effect in their precise original terms. |
IN WITNESS WHEREOF the Parties have caused this Addendum to be executed in three (3) originals as of the date above written.
SIGNED AND DELIVERED for and on behalf of THE STATE represented by the Agencia Nacional do Petr6leo of Sao Tome and Principe
Signature: /s/ Orlando Pontes
Name: ORLANDO MENEZES SOUSA PONTES
Designation: EXECUTIVE DIRECTOR
In the presence of:
Signature: /s/ Alavaro da Costa Varela da Silva
Name: ALVARO DA COSTA VARELA DA SILVA
Designation: LEGAL AND ECONOMIC DIRECTOR
SIGNED AND DELIVERED for and on behalf of Kosmos Energy Sao Tome and Principe
Signature: /s/ Paul Dailly
Name: PAUL DAILLY
Designation: SVP
In the presence of:
Signature: /s/ Carlos Silva
Name: CARLOS COSTA E SILVA
Designation: LAWYER