3.3.4 Farm-Out Arrangements Marginal Fields and Reversionary Rights of the Government
3.3.4 Farm-Out Arrangements Marginal Fields and Reversionary Rights of the Government[1]. “Farm-out” means an agreement between the holder of an oil mining lease and a third party which permits the third party to explore, prospect, win, work and carry away any petro- leum encountered in a specified area during the validity of the lease; “Marginal […]