Taiwanese Company & Solid Waste Management Authority signed Production Sharing Agreement

On January 14, 2009, a Production Sharing Agreement (PSA) was signed in Belmopan. This is the agreement is between the Government of Belize and OPIC Resource Corporation, an overseas subsidiary of the Chinese Petroleum Corporation (CPC) of Taiwan.

The Taiwanese company provides for Petroleum exploration for 8 years in this offshore region. The Government will collect revenues including royalties, income tax, share of production, and 10% working interest.

On behalf of OPIC Resource Corporation, the agreement was signed by Dr. Ming-Tar Lu, President, and on behalf of the Government of Belize it was signed by Hon. Gaspar Vega, Minister of Natural Resources and the Environment.

The ambassador of the Republic of China (Taiwan) to Belize, His Excellency Ting Joseph Shih attended the signing ceremony.

Comments are closed.