Agreement, the Operator Sample Clauses

Agreement, the Operator. Liabilities and Indemnities Agreement.- This Agreement constitutes an agreement made under section 10 of the Act consistent with the Act and the Regulations, and is a production sharing agreement, the objective of which is the exploration for development and production of petroleum in the contract area by the Contractor subject to the terms hereof and the provisions of the Act and Regulations under which the Contractor shall have an economic interest in the development of petroleum from the contract area. The operator.- (a) ESSO shall be the operator charged with conducting the day to day activities of the Contractor under this Agreement. No transfer of operatorship to another not comprising the Contractor shall take effect unless it has been approved by the Minister which approval shall not be unreasonably withheld, (b) The Minister shall be notified of any change of operatorship to another Party comprising the Contractor, (c) The Contractor shall provide the Minister with a memorandum summarizing the operating arrangements between the operator and the Contractor, including any Party comprising the Contractor for the conduct of petroleum operations which will include, inter alia, a provision whereby the operator agrees to conduct the petroleum operations in accordance with this Agreement, the licences and any applicable laws of Guyana.