Common use of Audit and Inspection Rights of Government Clause in Contracts

Audit and Inspection Rights of Government. a. The Government shall have the right, upon fifteen (15) days' prior written notice to Licensee, to audit directly or through an independent accountant, at its own cost. Licensees' accounts and records maintained in relation to the Petroleum Operations carried out hereunder with respect to each Calendar Year within twenty four (24) Calendar Months after the closure of the subject year's accounts. Notice of any exception to Licensee's accounts of any Calendar Year must be notified to Licensee within thirty (30) Calendar Months of the closure of the subject year's accounts. For purposes of auditing, the Government may examine and verify at reasonable times all charges and credits relating to the Petroleum Operations such as books of account, accounting entries, material records and inventories, vouchers, payrolls, invoices and any other documents, correspondence and records necessary to audit and verify the charges and credits. Furthermore, the auditors shall have the right in connection with such audit to visit and inspect at reasonable times all sites, plants, facilities, warehouses and offices of Licensee directly or indirectly serving the Petroleum Operations including visiting personnel associated with those operations. If the Government desires verification of charges representing a proportionate share in the cost of Licensee's activities other than those carried out hereunder, it may require such verification to the extent Licensee is able to present the required information without infringing the confidential or proprietary nature of such information, hi the event that such infringement would occur, the Government may require Licensee (at Licensee's expense) to obtain an audit certificate from an independent external auditor of international standing (selected by Licensee and acceptable to the Government) verifying such charge(s). If Government desires verification of charges from Affiliates of Licensee, Licensee shall, upon the Government's request and at Licensee's expense, obtain an audit certificate to such effect from the statutory auditors of the Affiliate concerned attesting that such rates do not include a profit element and have been consistently and reasonably applied.

Audit and Inspection Rights of Government. a. (a) The Government shall have the right, upon fifteen (15) days' ’ prior written notice to Licensee, to audit directly or through an independent accountantaccount, at its own cost. , Licensees' ’ accounts and records maintained in relation to the Petroleum Operations carried out hereunder with respect to each Calendar Year the Licence period within twenty four (24) Calendar Months after the closure of the subject year's ’s accounts. Notice of any exception to the Licensee's ’s accounts of any Calendar Year must be notified to Licensee within thirty (30) Calendar Months of the closure of the subject year's ’s accounts. For purposes of auditing, the Government may examine and verify at reasonable times all charges and credits relating to the Petroleum Operations such as books of account, accounting entries, material records and inventories, vouchers, payrolls, invoices and any other documents, correspondence and records necessary to audit and verify the charges and credits. Furthermore, the auditors shall have the right in connection with such audit to visit and inspect at reasonable times all sites, plants, facilities, warehouses and offices of Licensee directly or indirectly serving the Petroleum Operations including visiting personnel associated with those operations. If the Government desires verification of charges representing a proportionate share in the cost of Licensee's ’s activities other than those carried out hereunder, it may require such verification to the extent Licensee is able to present the required information without infringing the confidential or proprietary nature of such information, hi . In the event that such infringement would occur, the Government may require Licensee (at Licensee's ’s expense) to obtain an audit certificate from an independent external auditor of international standing (selected by Licensee and acceptable to the Government) verifying such charge(s). If Government desires verification of charges from Affiliates Affiliated Companies of Licensee, Licensee shall, upon the Government's ’s request and at Licensee's ’s expense, obtain an audit certificate certification to such effect from the statutory auditors of the Affiliate concerned attesting that such rates do not include a profit element and have been consistently and reasonably applied. However, the percentage rates to be applied pursuant to paragraph 2.5(b) of this Accounting and Financial Procedure will not be subject to audit.

Audit and Inspection Rights of Government. a. (a) The Government shall have the right, upon fifteen (15) days' ’ prior written notice to Licensee, to audit directly or through an independent accountant, at its own cost. , Licensees' ’ accounts and records maintained in relation to the Petroleum Operations carried out hereunder with respect to each Calendar Year the Licence Period within twenty four (24) Calendar Months after the closure of the subject year's ’s accounts. Notice of any exception to the Licensee's ’s accounts of any Calendar Year must be notified to Licensee within thirty (30) Calendar Months of the closure of the subject year's ’s accounts. For purposes of auditing, the Government may examine and verify at reasonable times all charges and credits relating to the Petroleum Operations such as books of account, accounting entries, material records and inventories, vouchers, payrolls, invoices and any other documents, correspondence and records necessary to audit and verify the charges and credits. Furthermore, the auditors shall have the right in connection with such audit to visit and inspect at reasonable times all sites, plants, facilities, warehouses and offices of Licensee directly or indirectly serving the Petroleum Operations including visiting personnel associated with those operations. If the Government desires verification of charges representing a proportionate share in the cost of Licensee's ’s activities other than those carried out hereunder, it may require such verification to the extent Licensee is able to present the required information without infringing the confidential or proprietary nature of such information, hi . In the event that such infringement would occur, the Government may require Licensee (at Licensee's ’s expense) to obtain an audit certificate from an independent external auditor of international standing (selected by Licensee and acceptable to the Government) verifying such charge(s). If Government desires verification of charges from Affiliates Affiliated Companies of Licensee, Licensee shall, upon the Government's ’s request and at Licensee's ’s expense, obtain an audit certificate certification to such effect from the statutory auditors of the Affiliate concerned attesting that such rates do not include a profit element and have been consistently and reasonably applied. However, the percentage rates to be applied pursuant to paragraph 2.5(b) of this Accounting and Financial Procedure will not be subject to audit.