Production Sharing Contract between IOC and NOC- Royalty and Profit Sharing Items Value (USD and %) Petroleum gross production per barrel $25/bbl Royalty paid to NOC 15% Cost of recovery (CAPEX and OPEX) 25% Profit Sharing Agreed between IOC and NOC 30%/70% Tax to NOC 25% Production Sharing Contract between IOC and NOC- Royalty and Profit Sharing Items Value (USD and %) Petroleum gross production per barrel $25/bbl Royalty paid to NOC 15% Cost of recovery (CAPEX and OPEX) 25% Profit Sharing Agreed between IOC and NOC 30%/70% Tax to NOC 25%