Section 8
Petroleum Agreement
8. Petroleum Agreement:
(1) If Government of Nepal has to conduct Petroleum Operations upon employing of a Contractor pursuant to Subsection (2) of Section 4, it may do so by executing a Petroleum Agreement as may be prescribed.
(2) A Petroleum Agreement may be entered into only with such Contractors who are qualified to carry out Petroleum Operations and possess such capital, technical competence and professional skill as may be
prescribed.
(3) No Contractor shall be entitled to assign or transfer the rights and obligations under a Petroleum Agreement to any other person without the prior approval of Government of Nepal.
(1) If Government of Nepal has to conduct Petroleum Operations upon employing of a Contractor pursuant to Subsection (2) of Section 4, it may do so by executing a Petroleum Agreement as may be prescribed.
(2) A Petroleum Agreement may be entered into only with such Contractors who are qualified to carry out Petroleum Operations and possess such capital, technical competence and professional skill as may be
prescribed.
(3) No Contractor shall be entitled to assign or transfer the rights and obligations under a Petroleum Agreement to any other person without the prior approval of Government of Nepal.