This agreement will be an incentive for the company to prepare an integrated development plan for those areas in the event that there are positive results from exploratory drilling in them, especially since the company has completed conducting a three-dimensional seismic survey of an area of approximately 11 thousand square kilometers, and is currently evaluating that data in preparation for starting exploratory drilling programs.
The MoU will provide an incentive for companies to seriously pursue exploration operations. It will also allow the government and companies to share expected gains in the event of significant discoveries and higher-than-expected profits, placing the government's share within the global market.