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PRODUCTION SHARING CONTRACT


BETWEEN


THE REPUBLIC OF EQUATORIAL GUINEA


AND


UNITED MERIDIAN INTERNATIONAL CORPORATION


(AREA B - OFFSHORE NW BIOCO)





This First Amendment (hereinafter referred to as this “Amendment”) made and


entered into this Z^) day of December, 1992, by and between The Republic of Equatorial


Guinea (hereinafter referred to as the “State”) represented for purposes of this Amendment


by the Ministry of Mines and Hydrocarbons of The Republic of Equatorial Guinea


(hereinafter referred to as the “Ministry”), United Meridian International Corporation, a


corporation organized and existing under the laws of the State of Delaware, U.S.A,


(hereinafter referred to as “UMIC”) and represented for purposes of this Amendment by


Coy H. Squyres, its president, and DuPontjE&P No. 21 B.V., a corporation organized and


existing under the laws of The Netherlands (hereinafter referred to as “DuPont”) and


represented for purposes of this Amendment by BavnHiV. Brown and, M,


am. /Sill (is M&y


WITNESSETH:


WHEREAS, the State and UMIC entered into that certain Production Sharing


Contract dated the 29th day of June, 1992 (hereinafter referred to as the “Contract”), but


having an Effective Date of July 8, 1992, covering the area described therein which is


referred to as Area B - Offshore NW Bioco; and


WHEREAS, by that certain Assignment made and entered into the 21st day of


October, 1992, UMIC assigned DuPont an undivided seventy-five percent (75%) of all the


right, title, interest and obligations under the Contract, and said Assignment was approved


by the Ministry on 29 October 1992; and


WHEREAS, the State, UMIC and DuPont have determined that it is in the best


interest of the parties to the Contract to amend Section 2.1(b)(i) of the Contract to permit


the Contractor to file an application to proceed into the Second Subperiod with the Ministry


at any time prior to the termination of the First Subperiod.


NOW, THERE! ^jRE, in consideration of the premise^ and the mutual benefits to


the parties hereto, the State, UMIC and DuPont agree as follows:


1. Section 2.1(b)(i) of the Contract is amended by deleting the following words


from the first sentence of said Section: “not less than ninety (90) days”. The first sentence


of said Section shall read as follows after deleting said words: “If the Contractor has


fulfilled its obligations for the First Subperiod, the Contractor may elect to proceed into the


Second Subperiod by filing an application to so proceed with the Ministry prior to the


termination of the First Subperiod.”


Except as amended by this Amendment, the Contract shall remain in full force and


effect as originally written. Terms used in this Amendment that are defined in the Contract


shall have such defined meaning where used herein.


IN WITNESS WHEREOF, the parties hereto have executed this Amendment in four


(4) originals in the English and Spanish languages, as of the day and year first above


written.





ministry OF MINES AND


^fNXTYDROCARBONS OF


^HE REPUBLIC OF EQUATORIAL GUINEA


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UNITED MERIDIAN INTERNATIONAL


CORPORATION

















DUPONT E&P NO. 21 B.V.