support agreement

support agreement. Oil & gas. A contract between people or entities in the oil-and-gas industry to promote exploratory operations. • Generally, one party agrees to contribute money or property to another if the other will drill a well on leases that it holds and provide the contributing party with information from tests conducted. For the contributing party, a support agreement is a purchase of geological or technological information. For the party receiving the support, the contribution lessens the cost or the risk of drilling operations. — Also termed contribution agreement. See DRY-HOLE AGREEMENT ; BOTTOM-HOLE AGREEMENT; ACREAGE-CONTRIBUTION AGREEMENT.

---

词条贡献者

双语律师Howard，毕业于法国一流的高级翻译学院，擅长翻译各类与欧美消费者隐私法规相关的法律文件。