An oil company which operates in Malaysia is a contractor to PETRONAS for a shallow water oil field. The production profiles of the field are given in Table 1. Parameters Production, STB/d Development costs, USD Mil. Production operating costs, USD Mil. Oil prices, USD/bbl Table 1: Production profiles for an oil field Year 4 5 22,000 28,000 (a) PETRONAS (b) Contractor 1 2 3 8,000 30 250 300 50 70 150 70 50 70 6 28,000 70 7 22,000 50 70 Based on the fiscal terms of Malaysia 1985 Production Sharing Contract (PSC), determine the yearly crude oil entitlements (in USD) for: (5 Marks) (5 Marks)