Final answer:
Profit oil split and cost recovery are terms related to the Production Sharing Contract (PSC), which is a type of fiscal regime where oil and gas produced are shared between the state and the company after cost recovery.
Step-by-step explanation:
The terms profit oil split and cost recovery are associated with the Production Sharing Contract (PSC) type of fiscal regime. Under a PSC, the oil and gas produced are divided between the state and the oil company after the company has recovered a specified amount of costs and expenses. The portion of the production that is shared after cost recovery is known as profit oil, which is then split between the government and the company according to the agreement outlined in the PSC.