Common use of Exploration Petroleum Costs Clause in Contracts

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 These are the Petroleum Costs incurred in relating to the exploration Petroleum Operations inside carried out for exploration purposes within an Exploration Perimeter, included in an Annual Work Program approved Perimeter incurred pursuant to the provisions of the Contract, and they shall include, without limitationincluding but not limited to the following: 3.2.1 GeochemicalGeophysical, geophysicalgeochemical, paleontological, geological, topographical studies and the seismic campaigning as well as studies surveys together with all related surveys and interpretations related thereto.their interpretations; 3.2.2 CoringCore drilling, exploration xxxxx, appraisal xxxxx and xxxxx drilled to supply water.water xxxxx; 3.2.3 Labor costsCost of labour, materielequipment, supplies and services used pertaining to service the drilling of exploration xxxxx or appraisal xxxxx of drilled to appraise a discovery and which are that do not completed as producers.become producing xxxxx; 3.2.4 Equipment utilized used exclusively to enhance and justify for the objectives listed purposes set out in Articles articles 3.2.1, 3.2.2 and 3.2.3 here above, including access roads and acquired the geological and geophysical information.information acquired; 3.2.5 That portion The share of the Petroleum Costs incurred in for the construction of facilities and equipmentinstallations, general expenses covered by the overhead chargeable to exploration Exploration Petroleum Costs as such is derived from a calculated for the fair allocation of all of the Petroleum Costs taken as a whole (including overheadgeneral expenses) between exploration the Exploration Petroleum Costs and all of the Petroleum Costs taken as a whole, with exception of overhead.excluding general expenses; 3.2.6 All the other Petroleum Costs incurred for the purpose of exploration purposes between the Effective Date and the startup date of commencement of the commercial production of commercially viable Hydrocarbons that are not included in Article article 3.3 here below.