Exploration Petroleum Costs Sample Clauses

Exploration Petroleum Costs. The petroleum Exploration Costs incurred by the Contractor for the Exploration Perimeter, including particularly the expenses of geological and geophysical exploration studies and the expenses of exploration drilling and appraisal of a discovery (excluding productive xxxxx, which shall be considered assets which fall under the provisions of Article

Exploration Petroleum Costs. They are the Petroleum Costs incurred in the exploration Petroleum Operations inside an Exploration Perimeter, included in an Annual Work Program approved pursuant to the provisions of the Contract, and they shall include, without limitation: 3.2.1 Geochemical, geophysical, paleontological, geological, topographical studies and the seismic campaigning as well as studies and interpretations related thereto. 3.2.2 Coring, exploration xxxxx, appraisal xxxxx and xxxxx drilled to supply water. 3.2.3 Labor costs, materiel, supplies and services used to service exploration xxxxx or appraisal xxxxx of a discovery and which are not completed as producers. 3.2.4 Equipment utilized exclusively to enhance and justify the objectives listed in Articles 3.2.1, 3.2.2 and 3.2.3 here above, including access roads and acquired geological and geophysical information. 3.2.5 That portion of the Petroleum Costs incurred in construction of facilities and equipment, the overhead chargeable to exploration Petroleum Costs as such is derived from a fair allocation of the Petroleum Costs taken as a whole (including overhead) between exploration Petroleum Costs and the Petroleum Costs taken as a whole, with exception of overhead. 3.2.6 All the other Petroleum Costs incurred for the purpose of exploration between the Effective Date and the startup of the commercial production of Hydrocarbons that are not included in Article 3.3 here below.

Exploration Petroleum Costs. They are the Petroleum Costs incurred in the exploration Petroleum Operations inside an Exploration Perimeter, included in an Annual Work Program approved pursuant to the provisions of the Contract, and they shall include, without limitation: 3.2.1 Geochemical, geophysical, paleontological, geological, topographical studies and the seismic campaigning as well as studies and interpretations related thereto. 3.2.2 Coring, exploration xxxxx, appraisal xxxxx and xxxxx drilled to supply water. 3.2.3 Labor costs, materiel, supplies and services used to service exploration xxxxx or appraisal xxxxx of a discovery and which are not completed as producers. 3.2.4 Equipment utilized exclusively to enhance and justify the objectives listed in Articles 3.2.1,

Exploration Petroleum Costs. The petroleum Exploration Costs incurred by the Contractor for the Exploration Perimeter, including particularly the expenses of geological and geophysical exploration studies and the expenses of exploration drilling and appraisal of a discovery (excluding productive xxxxx, which shall be considered assets which fall under the provisions of Article 4.2 hereinabove of this Appendix), are considered charges deductible in full from the year they are entered on the books or they may be depreciated at the rate chosen by the Contractor.