Common use of Establishment and Powers Clause in Contracts

Establishment and Powers. There is hereby established an Operating Committee which shall exercise general supervision and control over all matters pertaining to the Joint Operations. Without limiting the generality of the foregoing, but subject as otherwise provided in this Agreement, the powers and duties of the Operating Committee shall include: (i) the consideration and determination of all matters relating to general policies, procedures and methods of operation hereunder; (ii) subject to Article 15 the approval of any public announcement or statement regarding this Agreement or the Joint Operations; (iii) the consideration, revision and approval or disapproval of all proposed Programs and Budgets and AFE's prepared and submitted to it pursuant to the provisions of this Agreement; (iv) the determination of the timing and location of all wells drilled under the Joint Operations (including xxx deepening, completing, sidetracking, plugging back, reworking or abandonment thereof) and any change in the use or status of a well; (v) the consideration and determination of extensions or renewals of a License and the area required to be surrendered in accordance with the Petroleum Law or the relevant License including the voluntary surrender of a License or any part thereof; (vi) removal of Operator in accordance with Article 4.2.2 hereof and the election of a successor Operator; (vii) the consideration and determination of contributions to and from third parties for the drilling of wells and the purchase, sale or exchange of informaxxxx from, to or with third parties; (viii) the determination of any field to be included in a development Program for a Discovery and the making of any related application for the issue of a production lease to be issued under the Petroleum Law in respect of the License Area (or any part of it); (ix) the consideration and, if so required, the determination of any other matter relating to the Joint Operations which may be referred to it by the Parties or any of them (other than any proposal to amend this Agreement) or which is otherwise designated under this Agreement for reference to it.

Establishment and Powers. There To provide for the overall supervision and direction of the Joint Operations, there is hereby established an Operating Committee which shall exercise general overall supervision and control over of all matters pertaining to the Joint Operations. Without limiting the generality of the foregoing, but subject as otherwise provided in the Joint Venture Agreement and elsewhere in this Agreement, the powers and duties of the Operating Committee shall include: (ia) the consideration and determination of all matters relating to general policies, procedures and methods of operation hereunder; (iib) subject to Article 15 the approval of any public announcement or statement regarding this Agreement or the Joint Operations; (iiic) the consideration, revision and approval or disapproval disapproval, of all proposed Programs Work Programme and Budgets Budget and AFE's 's, all of which are to be prepared and submitted to it pursuant to in accordance with the provisions of this Agreement; (ivd) the determination of the timing and location of all wells xxxxx drilled under the Joint Operations (including xxx deepening, completing, sidetracking, plugging back, reworking or abandonment thereof) and any change in the use or status of a well; (v) the consideration and determination of extensions or renewals of a License and the area required to be surrendered in accordance with the Petroleum Law or the relevant License including the voluntary surrender of a License or any part thereof; (vi) removal of Operator in accordance with Article 4.2.2 hereof and the election of a successor Operator; (vii) the consideration and determination of contributions to and from third parties for the drilling of wells and the purchase, sale or exchange of informaxxxx from, to or with third parties; (viiie) the determination of whether the Operator will represent the parties regarding any field matters or dealings with the Ministry, any other governmental authorities or third parties insofar as the same relate to be included in a development Program for a Discovery and the making of Joint Operations, provided that there is reserved to each Party the unfettered right to deal with the Ministry, any related application for the issue of a production lease to be issued under the Petroleum Law other governmental authorities or any third party in respect of the License Area (or any part of it)matters relating solely to its own Participating Interest; (ixf) the consideration and, if so required, the determination of any other matter relating to the Joint Operations which may be referred to it by the Parties or any of them (other than any proposal to amend this Agreement) or which is otherwise designated under the Joint Venture Agreement and this Agreement for reference to it; and (g) authorize and supervise Joint Operations that are necessary or desirable to fulfill the Joint Venture Agreement and properly explore and exploit the Deep Zones of the IMA Field in accordance with this Agreement and in the manner appropriate in the circumstances.

Establishment and Powers. There is hereby established an Operating Committee which shall exercise general supervision and control over all matters pertaining to the Joint Operations. Without limiting the generality of the foregoing, but subject as otherwise provided in this Agreement, the powers and duties of the Operating Committee shall include: (i) the consideration and determination of all matters relating to general policies, procedures and methods of operation hereunder; (ii) subject to Article 15 18 the approval of any public announcement or statement regarding this Agreement or the Joint Operations; (iii) the consideration, revision and approval or disapproval of all proposed Programs and Budgets and AFE's prepared and submitted to it pursuant to the provisions of this Agreement; (iv) the determination of the timing and location of all wells drilled under the unxxx xhe Joint Operations (including xxx the deepening, completing, sidetracking, plugging back, reworking or abandonment thereof) and any change in the use or status of a well; (v) the consideration and determination of extensions or renewals of a the License and the area required to be surrendered in accordance with the Petroleum Law or the relevant License including the voluntary surrender of a the License or any part thereof; (vi) removal of Operator in accordance with Article 4.2.2 hereof and the election of a successor Operator; (vii) the consideration and determination of contributions to and from third parties for the drilling of wells and the purchase, sale or exchange of informaxxxx information from, to or with third parties; (viii) the determination of any field to be included in a development Program for a Discovery and the making of any related application for the issue of a production petroleum lease to be issued under the Petroleum Law in respect of the License Area (or any part of it); (ix) the consideration and, if so required, the determination of any other matter relating to the Joint Operations which may be referred to it by the Parties or any of them (other than any proposal to amend this Agreement) or which is otherwise designated under this Agreement for reference to it.