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Chapter OT26740

Document Cited in Related
Vincent
Published date13 March 2016
Record NumberOT26740
CourtHM Revenue & Customs
IssuerHM Revenue & Customs
CAA01\S167

Subject to some conditions, these rules apply where “the contractor” (a term frequently used in the actual Production Sharing Contract) is entitled to an interest in a contract made with the government, or their authorised representative, of a country or territory in which oil is, or may be, produced (CAA01\S167(1)(a)).

The reference to “authorised representative” recognises that the overseas government may authorise another party to act for it in relation to the contract. This is usually the state-owned national oil company (NOC). As a state oil company or its affiliate can act as a contractor within the terms of the PSC legislation, then in some circumstances, the host government can be represented in contractual terms by some other body, for example a Petroleum Ministry. It will be a question of fact and law in any given case whether a state oil company or its affiliate is acting as a party to the contract, and what its contractual status is. A similar question of fact or law may arise if it is necessary to determine whether a state oil company remains an authorised representative of the government in the event of full or partial privatisation of the NOC.

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