Production sharing contract

{
  "id": "MLC-T-OAG-002959",
  "term": "Production sharing contract",
  "field": "Oil and gas",
  "definition": "A contractual arrangement between a host government and an oil company for the exploration and production of hydrocarbons. The company bears the exploration risks and costs, and if successful, recovers its costs from a portion of the production, known as 'cost oil.' The remaining production, 'profit oil,' is then shared between the government and the company.",
  "subject": "Oil and Gas Business",
  "url": "https://mlchart.com/terminology/oil-and-gas/production-sharing-contract/"
}