Oil agreement.

Urth
1

(joint post with Sammy23)

Land Exploitation Agreement
Staynish version
28th January 2024

Parties involved:

LegaPetro
PetroCampus, n/a Petrozhúnle vía
03755 Privétia Tauríllien, Cooperative Commonwealth

Naux Senatorial Union
8A Chimarras street,
Achan State, Nauxos

Purpose

By signing this contract, the private entity LegaPetro and its subsidiaries LeGasOil and LegExplo, are granted the right to explore, exploit and transform resources within the soil under the jurisdiction of the Naux Senatorial Union (hereafter, Nauxos) for an indefinite period.

Financial Terms

LegaPetro agrees to provide Nauxos with no less than 5% of the profits the company makes from petrochemical activities. LegaPetro will make a single initial payment of 100 million notes to Nauxos, following Nauxos’ requirement to invest in a significant manner to the country’s economy.

Compromises

  1. All operations by LegaPetro will be overseen by the Naux Ministry of Foreign Affairs, and any convenient actions will be enforced by the National Intelligence Directorate.
  2. LegaPetro will follow its commitment towards the global environment and will submit its operations to the audits the Naux authorities consider necessary in those regards.
  3. LegaPetro will prioritize hiring Naux citizens and residents into their workforce and will make sure that their work conditions comply with the Naux regulations.
  4. LegaPetro will engage in corporate social activities, such as environment preservation or healthcare risks prevention.
  5. Regular disputes will be solved through arbitration by the Naux market and/or labour authorities or, if needed, by a third party ad hoc.

Termination

Either party may terminate the agreement with a six month notice, following failure to meet any of the aforementioned points.

Signed

LegaPetro
Lakendra Oren Voranat, CEO

Naux Senatorial Union
Giorgio Siatas, Foreign Minister

2 Likes