Sri Lanka Consolidated Acts

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Petroleum Resources Act (No. 26 of 2003) - Sect 25

Petroleum Resources Royalty

25.
(1) The Contractor shall pay to the State a Petroleum on the value of all petroleum resources as Resources are recovered under a Development Licence and the State will have the option to obtain the Royalty in cash or kind as prescribed in the relevant Petroleum Resources Agreement.
(2) The methods for measuring the petroleum resources recovered, and the periods for payment of the Royalty, shall be as prescribed in the relevant Petroleum Resources Agreement.

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