Common use of Contractual Value of Hydrocarbons in Period Clause in Contracts

Contractual Value of Hydrocarbons in Period. 2.1 The Contractual Value of the Hydrocarbons will be determined using the following formula: = , + , + , Where: = Contractual Value of Hydrocarbons in Period t. , = Contractual Value of Crude Oil in Period t. , = Contractual Value of Natural Gas in Period t. , = Contractual Value of Condensates in Period t. In case that Hydrocarbon spills occur due to emergencies or disaster situations, recovered Hydrocarbon volumes during the conduction of response activities to such emergencies or disaster situations, will be considered for the calculation of the Contractual Value of each type of Hydrocarbons.

Contractual Value of Hydrocarbons in Period. 2.1 The Contractual Value of the Hydrocarbons will be determined using the following formula: Where: = , + , + , Where: = Contractual Value of Hydrocarbons in Period t. , = Contractual Value of Crude Oil in Period t. , = Contractual Value of Natural Gas in Period t. , = Contractual Value of Condensates in Period t. In case that Hydrocarbon spills occur due to emergencies or disaster situations, recovered Hydrocarbon volumes during the conduction of response activities to such emergencies or disaster situations, will be considered for the calculation of the Contractual Value of each type of Hydrocarbons.