This is the definition within the oil/gas field. This term seems to be used a lot with South American exploration.
Column 1 Column 2 0 Concession Agreement entered into with a host country granting the company the right to explore and produce oil and gas in a designated area, in return for paying to the government licence fees and royalties on production. (Also referred to as Block(s) or Licence(s)).
Ann: Trading Halt, page-35
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