Реферат: Contract

1.27. "Net Production" means Crude Oil, measured'at the PMP and transferred to the Transporter at the Transfer Point less transportation. losses, linefill and terminal dead stock computed in accordance with Addendum Two and the subsequent Transportation Agreement.

1.28. "Operator" means the entity designated pursuant to Article 9 hereof to conduct Petroleum Operations.

1.29. "Participating Interest" - means, with respect to (PART 1) and (PART 2) comprising Contractor, its percentage interest as defined in Article 27 and Addendum X in rights, privileges, obligations and liabilities under the Contract.

1.30. "Petroleum" means all hydrocarbons including liquid and gaseous hydrocarbons produced and saved from the Field under this Contract.

1.31. "Petroleum Costs" means all expenditures incurred and payments made by Contractor and/or Operator in connection with or in relation to Petroleum Operations preparing and their realization including but not limited to expenses (damage, loss, deterioration) caused by Excluded Risks, social expenses for the personnel, food and medicine purchases except as otherwise stipulated herein determined in accordance with the provisions of this Contract and Annex X.

1.32. "Petroleum Operations" means all operations in connection with Appraisal, Development, and Production Operations and other activities related thereto including technical documentation preparing, under this Contract.

1.33. "Production Operations" means any and all operations related to production of Petroleum including (but not limited to) workovers, stimulation's, operating, staffing, supervising, servicing, repairing and maintaining of any and all wells, plants, equipment, pipelines, tank farms, terminals. and all other installations and facilities.

1.34. "Quarter" means a period of three (3) consecutive months commencing with the ' first day of January, April, July or October, according to the Gregorian calendar.

1.35. "Sub-contractors" means the suppliers, contractors and sub-contractors of the Operator at whatever level.

1.36. "Transfer Pointer "TP" means the inlet flange(s), immediately after the Measurement Point at the Field, of the pipeline (s) through which Crude Oil is to be transported by the Transporter to the Delivery Point.

1.37. "Transporter means the entity designated by State Body for transportation and storage of Crude/Commercial Oil beyond the Transfer Point pursuant to Article 17, Addendum X and the subsequent Transportation Agreement.

1.38. "Work Programmer" means an itemization and time schedule of the Petroleum Operations to be carried out under this Contract.

1.39. "Year" means the period of twelve (12) consecutive months according to the Gregorian Calendar.

1.40. Joint Operating Company (JOC) - means the organization designated, according to Article 9 of the Contract, to conduct Petroleum Operations as Operator's successor personate to Addendum X.

ARTICLE 2. SCOPE OF CONTRACT

2.1 This Contract is a Contract for the Development and Production from the Field in accordance with the provisions herein contained. It includes Annexes X - Y and Addenda X - Y attached hereto and made part thereof.

In the event of conflict of the texts between the Contract and the Annexes or the Addenda, the provisions of the Contract shall prevail.

The Contractor, subject to the provisions herein contained, shall:

2.1.1 Carry out Petroleum Operations to develop and produce the relevant reservoirs of the Field with a view to achieving a sustained production level of (000) thousand Barrels per day by the end of (X) Years period from the Effective Date;

2.1.2 Provide all capital, machinery, equipment, and technology, personnel and services necessary for the carrying out of Petroleum Operations.

2.1.3 Incur all Petroleum Costs required for carrying out Petroleum Operations, in order to achieve the plateau set out in item 2.1.1 above.

2.1.4 Fulfill all-financial and other obligations of the Contractor and enjoy all rights and benefits, in accordance with the provisions of this Contract.

2.2 Notwithstanding the above, scope of this Contract does not include developed reservoirs defined in Section X of Annex X.

2.3 The Companies comprising the Contractor shall be jointly and severally responsible towards the State Body for the Contractor's obligations fulfillment within the limits of their joint Participating Interest.

ARTICLE 3. TERM OF CONTRACT

The term of this Contract shall be __ Years from the Effective Date.

The term may be extended for a further period up to Years upon written request of the Contractor and the State Body's approval. Such request shall be submitted by the Contractor to the State Body at least _____ Year prior to the expiry date of the Contract.

ARTICLE 9 - CONDUCT OF PETROLEUM OPERATIONS

9.1 Contractor shall carry out Petroleum Operations on the Field on an exclusive basis subject to the provisions of tills Contract. State Body shall take necessary measures to ensure that third party and State Body's operations within the Contract Area shall no unreasonably obstruct, hinder, or unduly delay the Petroleum Operations.

9.2. OPERATORSHIP

9.2.1 (PART 2) on behalf of Contractor shall establish the Operating Company that shall perform Operator's functions before the Date of Transfer of the Operatorship to the Joint Operating Company (JOC) as defined hereunder. Contractor shall not change the Operator without the prior written consent of State Body.

9.2.2 The Date of Transfer of Operatorship shall mean, for the purpose of tills Article, the date occurring (X) years after the (Cost Recovery Date). For the purposes of this Contract Cost Recovery Date shall be the first Day of the Quarter, following the two consecutive Quarters, where for the first time no recoverable costs are carried forward from the previous Quarter in accordance with Sub-Article 18.1.2 of the Contract and subject to the provisions of Annex X.