Allocation of Funds. The Board of Trustees of PETROFUND shall select from the nominated institutions the projects that show the most merit in terms of the general development in Namibia of natural science engineering and technology, on the one hand, and the oil and gas exploration and production industry, on the other hand. In the allocation of funds, the Board of Trustees of PETROFUND shall also keep in mind the longer term needs of the country beyond the sphere of petroleum, non-petroleum minerals and mining.
Appears in 4 contracts
Samples: Petroleum Agreement (Elephant Oil Corp.), Petroleum Agreement, Petroleum Agreement
Allocation of Funds. The Board of Trustees of PETROFUND shall select from the nominated institutions the projects that show the most merit in terms of the general development in Namibia of natural science engineering and technology, on the one hand, and .and the oil and gas exploration and production industry, on the other hand. In the allocation of funds, the Board of Trustees of PETROFUND shall also keep in mind the longer term needs of the country beyond the sphere of petroleum, non-petroleum minerals and mining.
Appears in 2 contracts
Samples: Petroleum Agreement, Petroleum Agreement (Kosmos Energy Ltd.)
