Common use of Determination of Commerciality Clause in Contracts

Determination of Commerciality. For the purposes of Article 5.3, the Contractor shall determine whether it considers that a Discovery or aggregation of Discoveries can be developed commercially. The commercial viability of the Discovery or aggregation of Discoveries shall be determined after consideration of all pertinent operating, economic and financial data collected during the performance of the Appraisal work program and otherwise, including Crude Oil and Natural Gas recoverable reserves, sustainable Production levels and all other relevant economic factors, according to generally accepted international petroleum industry practice.

Determination of Commerciality. For the purposes of Article 5.3‎5.3, the Contractor shall determine whether it considers that a Discovery or aggregation of Discoveries can be developed commercially. The commercial viability of the Discovery or aggregation of Discoveries shall be determined after consideration of all pertinent operating, economic and financial data collected during the performance of the Appraisal work program and otherwise, including Crude Oil and Natural Gas recoverable reserves, sustainable Production levels and all other relevant economic factors, according to generally accepted international petroleum industry practice.

Determination of Commerciality. For the purposes of Article 5.3, the Contractor shall will determine whether it considers that a Discovery or aggregation set of Discoveries can be developed commercially. The commercial viability of the Discovery or aggregation set of Discoveries shall will be determined after consideration of all pertinent operating, economic economic, and financial data collected information gathered during the performance of the Appraisal evaluation work program and otherwiseother sources, including recoverable reserves of Crude Oil and Natural Gas recoverable reservesGas, sustainable Production levels and all other relevant economic factors, according to generally accepted the good practices of the international petroleum industry practiceindustry.

Determination of Commerciality. For the purposes of Article 5.3‎5.3, the Contractor shall determine whether it considers that a Discovery or aggregation of Discoveries can be developed commercially. The 17 commercial viability of the Discovery or aggregation of Discoveries shall be determined after consideration of all pertinent operating, economic and financial data collected during the performance of the Appraisal work program and otherwise, including Crude Oil and Natural Gas recoverable reserves, sustainable Production levels and all other relevant economic factors, according to generally accepted international petroleum industry practice.

Determination of Commerciality. For the purposes of Article 5.3, the Contractor shall will determine whether it considers that a Discovery or aggregation set of Discoveries can be developed commercially. The commercial viability of the Discovery or aggregation set of Discoveries shall will be determined after consideration of all pertinent operating, economic economic, and financial data collected information gathered during the performance of the Appraisal appraisal work program and otherwiseother sources, including recoverable reserves of Crude Oil and Natural Gas recoverable reservesGas, sustainable Production levels and all other relevant economic factors, according to the generally accepted good practices of the international petroleum industry practiceindustry.