What is the full meaning of PSC as applied to the Oil and Gas industry?

SCHOLARSHIP QUESTION:

What is the full meaning of PSC as applied to the Oil and Gas industry?
(A) Phenyl Sulfur Carbide
(B) Production Sharing Contracts
(C) Petroleum Sharing Consumption
(D) Profit-Sharing Council

The Correct Answer is:

(B) Production Sharing Contracts

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