Benchmarking of Local Content. 20.3 For the purposes of benchmarking, the Local Content of goods and services should be expressed in percentages in relation to the amount of the good or service purchased or hired.
Benchmarking of Local Content. For the purposes of benchmarking, the Local Content of goods and services should be expressed in percentages in relation to the amount of the good or service purchased or hired. The Local Content of goods and services should be proven to ANP through the presentation of certificates of their Local Content. The goods and services whose Local Content is inferior to 10% (ten percent) will be considered as aliens in the computation of Local Content for the fulfillment of the contractual obligations. Notwithstanding the above provision, the Local Content on the purchase of drills, as well as the maritime projects of seismic data acquisition and chartering of drilling rigs, will still be considered even if its Local Content is inferior to 10% (ten percent). The Local Content of Long Duration Tests will not be included for the purposes of compliance with the Local Content of the Exploration Phase. For the determination of the percentage of Local Content, the monetary amounts corresponding to the purchases of goods and services will be updated for the month and year in which the verification of compliance with the provisions in this clause is accomplished, using the General Market Price Index (IGP-M) of Xxxxxxx Xxxxxx Foundation. The measure milestones by ANP for the Local Content will be: The closure of the exploration phase; and Closure of the Development Phase for the purposes of Local Content.
Benchmarking of Local Content. For the purposes of benchmarking, the Local Content of goods and services should be expressed in percentages in relation to the amount of the good or service purchased or hired. The Local Content of goods and services should be proven to ANP through the presentation of certificates of their Local Content. The goods and services whose Local Content is inferior to 10% (ten percent) will be considered as aliens in the computation of Local Content for the fulfillment of the contractual obligations. Notwithstanding the above provision, the Local Content on the purchase of drills, as well as the maritime projects of seismic data acquisition and chartering of drilling rigs, will still be considered even if its Local Content is inferior to 10% (ten percent). For the determination of the percentage of Local Content, the monetary values corresponding to the purchases of goods and services will be updated for the month and year in which the verification of compliance with the provisions in this clause is accomplished, using the General Market Price Index (IGP-M) of Xxxxxxx Xxxxxx Foundation. The milestones for Local Content measurement by ANP will be: The end of the Exploration Phase; The end of each Module of the Development Phase; or The closure of the stage of development in a field that does not include modular development.
Benchmarking of Local Content. For the purposes of benchmarking, the Local Content of Property and services shall be expressed in percentages in relation to the amount of the good or service purchased or hired. The Local Content of Property and services shall be proven to ANP through the presentation of certificates of their Local Content, or from document which shall replace the former one, as per applicable legislation. The Property and services whose Local Content is inferior to 10% (ten percent) shall be considered as aliens in the computation of Local Content for the fulfillment of the contractual obligations. Notwithstanding the above provision, the Local Content on the purchase of drills, as well as the maritime projects of seismic data acquisition and chartering of drilling rigs, shall still be considered even if its Local Content is inferior to 10% (ten percent). For the determination of the percentage of Local Content, the monetary values corresponding to the purchases of Property and services shall be updated for the month and year in which the verification of compliance with the provisions in this clause is accomplished, using the General Market Price Index (IGP-M) of Xxxxxxx Xxxxxx Foundation, or other of which shall replace, upon ANP criteria. The milestones for Local Content measurement by ANP shall be: The end of the Exploration Phase; The end of each Module of the Development Phase; or The closure of the stage of development in a field which shall not include modular development.
