Obtaining a concession in France
To be able to produce the oil discovered, the operator must obtain a concession.
What is a concession?
It is a mining title granted by decree in Council of State to one or more companies, and is defined on the basis of:
- a defined area, corresponding to the geographical extension of the underground oil field,
- a period of economic validity of the field (maximum 50 years, extendable)
- a technical and financial capacities to conduct the exploitation of the oil field while respecting people, the environment and property.
What are the rights of a concession?
A concession is a real estate and patrimonial right that permits:
- exclusivity on the oil resource,
- the marketing of oil,
- access to surface lands for installations (easements).
What are the obligations and responsibilities?
The holder of a concession must:
- submit an application for authorization to work,
- respect the public health, safety and environmental interests,
- pay mining royalties,
- commit to communicate any event related to the status of the holders,
- remediate the sites at the end of their operation.
(Unless otherwise noted, references on this website to "Vermilion", or "the Company", or "we", or "our" collectively refer herein to any or all of the people and operations associated with Vermilion Energy Inc. and/or its subsidiaries including its French subsidiary Vermilion Energy France REP SAS whose operations and activities are the focus of this website)