Common use of Best Practices of the Oil Industry Clause in Contracts

Best Practices of the Oil Industry. The best and safest procedures and technologies available in the Oil and Gas Industry worldwide intended to: (a) ensure the operational safety of the facilities, preserving life, physical integrity, and human health; (b) preserve the environment and protect adjacent communities; (c) prevent or reduce as much as possible the risk of spill of oil, natural gas, by-products, and other chemicals that may be hazardous to the environment; (d) preserve oil and gas resources, which implies the use of adequate methods and processes to maximize the recovery of hydrocarbons in a technical, economic, and environmentally sustainable way, with the corresponding control of the reserve decline, and to mitigate surface losses; (e) minimize consumption of natural resources in the Operations. In order to perform the Best Practices of the Oil Industry, the Concessionaires shall rely on the standards issued by ANP and other Brazilian public bodies, incorporating technical standards and recommendations of internationally recognized bodies and associations of the Oil Industry, whenever such measures increase the chances to achieve the objectives listed above.

Best Practices of the Oil Industry. The the best and safest procedures and technologies available in the Oil and Gas Industry industry worldwide intended to: (ai) ensure the operational safety of the facilities, preserving life, physical integrity, and human health; (bii) preserve the environment and protect adjacent communities; (ciii) prevent or reduce as much as possible the risk of spill of oilspilling Oil, natural gasNatural Gas, by-products, and other chemicals that may be hazardous to the environment; (div) preserve oil and gas resources, which implies the use of adequate methods and processes to maximize the recovery of hydrocarbons in a technical, economic, and environmentally sustainable way, with the corresponding control of the reserve decline, and to mitigate surface losses; (ev) minimize consumption of natural resources in the Operations. In order to perform the Best Practices of the Oil Industry, the Concessionaires Contracted Parties shall rely on the standards issued by ANP and other Brazilian public bodies, incorporating technical standards and recommendations of internationally recognized bodies and associations of the Oil Industry, whenever such measures increase the chances to achieve the objectives listed above.

Best Practices of the Oil Industry. The best and safest procedures and technologies available in the Oil oil and Gas Industry gas industry worldwide intended to: : (ai) ensure the operational safety of the facilities, preserving life, physical integrity, and human health; (bii) preserve the environment and protect adjacent communities; (ciii) prevent or reduce as much as possible the risk of spill of oil, natural gas, by-products, and other chemicals that may be hazardous to the environment; (div) preserve oil and gas resources, which implies the use of adequate methods and processes to maximize the recovery of hydrocarbons in a technical, economic, and environmentally sustainable way, with the corresponding control of the reserve decline, and to mitigate surface losses; (ev) minimize consumption of natural resources in the Operations. In order to perform the Best Practices of the Oil Industry, the Concessionaires Contractors shall rely on the standards issued by ANP and other Brazilian public bodies, incorporating technical standards and recommendations of internationally recognized bodies and associations of the Oil Industryoil industry, whenever such measures increase the chances to achieve the objectives listed above.

Best Practices of the Oil Industry. The best and safest procedures and technologies available in the Oil oil and Gas Industry worldwide intended togas industry worldwide, which shall: (a) ensure the operational safety of the facilities, preserving the life, physical integrity, integrity and human health; (b) preserve the environment and protect adjacent communities; (c) prevent or reduce as much as possible to an accepted minimum to the risk of spill of oiloil spill, natural gas, by-products, oil products and other chemicals that exposure of which may be hazardous harmful to the environment; (d) preserve oil the conservation of petroleum resources and gas resourcesgases, which implies the use of adequate methods and processes to maximize the recovery hydrocarbon in terms of hydrocarbons in a technicaltechnically, economic, economically and environmentally sustainable waysustainable, with the a corresponding control of the reserve reserves decline, and to mitigate minimize surface losses; (e) minimize consumption of natural resources in operations. For the Operations. In order to perform implementation of the Best Practices of the Oil Industry, the Concessionaires shall rely on take the standards issued established by ANP and the other Brazilian public bodiesgovernment agencies as a starting point, incorporating technical standards and recommendations of internationally recognized bodies and the oil industry associations of the Oil Industryrecognized internationally, whenever where such measures to increase the chances to achieve possibility once the objectives listed aboveabove are achieved.

Best Practices of the Oil Industry. The best and safest procedures and technologies available in the Oil and Gas Industry worldwide intended to: (a) ensure the operational safety of the facilities, preserving life, physical integrity, and human health; (b) preserve the environment and protect adjacent communities; (c) prevent or reduce as much as possible the risk of spill of oilOil, natural gasGas, by-products, and other chemicals that may be hazardous to the environment; (d) preserve oil and gas resources, which implies the use of adequate methods and processes to maximize the recovery of hydrocarbons in a technical, economic, and environmentally sustainable way, with the corresponding control of the reserve decline, and to mitigate surface losses; (e) minimize consumption of natural resources in the Operations. In order to perform the Best Practices of the Oil Industry, the Concessionaires shall rely on the standards issued by ANP and other Brazilian public bodies, incorporating technical standards and recommendations of internationally recognized bodies and associations of the Oil Industry, whenever such measures increase the chances to achieve the objectives listed above.

Best Practices of the Oil Industry. The best and safest procedures and technologies available in the Oil oil and Gas Industry gas industry worldwide intended to: (a) ensure the operational safety of the facilities, preserving life, physical integrity, and human health; (b) preserve the environment and protect adjacent communities; (c) prevent or reduce as much as possible the risk of spill of oil, natural gas, by-products, and other chemicals that may be hazardous to the environment; (d) preserve oil and gas resources, which implies the use of adequate methods and processes to maximize the recovery of hydrocarbons in a technical, economic, and environmentally sustainable way, with the corresponding control of the reserve decline, and to mitigate surface losses; (e) minimize consumption of natural resources in the Operations. In order to perform the Best Practices of the Oil Industry, the Concessionaires shall rely on the standards issued by ANP and other Brazilian public bodies, incorporating technical standards and recommendations of internationally recognized bodies and associations of the Oil Industryoil industry, whenever such measures increase the chances to achieve the objectives listed above.

Best Practices of the Oil Industry. The the best and safest procedures and technologies available in the Oil and Gas Industry worldwide intended to: (a) ensure the operational safety of the facilities, preserving life, physical integrity, and human health; (b) preserve the environment and protect adjacent communities; (c) prevent or reduce as much as possible the risk of spill of oil, natural gas, by-products, and other chemicals that may be hazardous to the environment; (d) preserve oil and gas resources, which implies the use of adequate methods and processes to maximize the recovery of hydrocarbons in a technical, economic, and environmentally sustainable way, with the corresponding control of the reserve decline, and to mitigate surface losses; (e) minimize consumption of natural resources in the Operations. In order to perform the Best Practices of the Oil Industry, the Concessionaires shall rely on the standards issued by ANP and other Brazilian public bodies, incorporating technical standards and recommendations of internationally recognized bodies and associations of the Oil Industry, whenever such measures increase the chances to achieve the objectives listed above.