RE: Just for fun….4 Sep 2022 12:12
Gr8 articles reminding us of reality...
Though the maths a little eschew:
The Kurdistan Regional Government (KRG) takes 10% off the top for royalty. Of the remaining 90%, 40% of this is allocated for the contractors to recover costs. The remaining 60% is the profit oil. Of this 60%, the contractors portion is determined by an R factor which is based on the contractors revenues divided by costs. The most they can receive of this 60% is 30% and the minimum is 15%.