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13:11 Nov 13, 2008
English to Chinese translations [PRO] Bus/Financial - Finance (general)
English term or phrase:farm-in agreement
The senior consultant advised ABC Oil & Gas, and helped the company balance the risks and rewards when negotiating farm-in agreement.
Many thanks for your contribution! 2 points awarded for your answer. To be frank, I have the same doubt as pointed by Laura Liu with "矿权买入协议".
At this stage, I would like to put forward my own version "矿权受让协议" for "farm-in agreement". I won't add any translation into KudoZ open glossary as yet. Let's keep the discussion open. 2 KudoZ points were awarded for this answer
Explanation: "Farm-ins are the oil industry term for deals where a company, not at present a licensee on a particular licensed area, can acquire an interest from one of the existing licensees. The transfers of interest are generally made in return for exploration or other commitments, for exchanges of licence interests, or for cash".......You will see therefore that farming-in is a way of acquiring a licence interest and, conversely, farming-out is a way of disposing of a licence interest.