PA Resources’ improved fiscal terms in Republic of Congo formally approved
Improved fiscal terms for the production sharing contract for the Azurite Field and the Mer Profonde Sud licence in the Republic of Congo has been formally approved. The amendment gives PA Resources a larger net entitlement share of Azurite field revenues and applies retroactively from 1 October 2010.The amendment on improved fiscal terms was signed between the authorities in the Republic of Congo and all the partners in the production sharing contract for the Mer Profonde Sud license (MPS) and the Azurite field; Murphy West Africa Ltd (working interest 50%), PA Resources (W.I. 35%) and