Common use of CONTRACTOR’S DEDUCTIBLE COSTS Clause in Contracts

CONTRACTOR’S DEDUCTIBLE COSTS. For Income Tax purposes, the Contractor's deductible costs shall include the following: (a) general and administrative expenses (personnel salaries, insurance premiums, labor, technical office services and other similar services, material services, public relations, expenses abroad related with Petroleum Operations in Equatorial Guinea, determined in accordance with Article 2.5 of this Accounting Procedure); (b) labor, materials and services indirectly used in operations of Development Xxxxx, feasibility studies for production of Crude Oil or Natural Gas fields, secondary recovery operations, storage operations, handling, transportation and delivery, Natural Gas Well operations, transportation and delivery of Natural Gas, services for Natural Gas treatment, environmental protection measures and any other maintenance activities indirectly related to Petroleum Operations.

CONTRACTOR’S DEDUCTIBLE COSTS. For Income Tax purposes, the Contractor's ’s deductible costs shall include the following: (a) general and administrative expenses (personnel salaries, insurance premiums, labor, technical office services and other similar services, material services, public relations, expenses abroad related with Petroleum Operations in Equatorial Guinea, determined in accordance with Article 2.5 ‎2.5 of this Accounting Procedure); (b) Intangible Capital Costs; (c) labor, materials and services indirectly used in operations of Development Xxxxx, feasibility studies for production of Crude Oil or Natural Gas fields, secondary recovery operations, storage operations, handling, transportation and delivery, Natural Gas Well operations, transportation and delivery of Natural Gas, services for Natural Gas treatment, environmental protection measures and any other maintenance activities indirectly related to Petroleum Operations. (d) Contributions to the Reserve Fund.