Common use of Extraction of the Clause in Contracts

Extraction of the. First Oil: date at which the first measurement of volumes of Oil and Natural Gas takes place in one of the Production Measuring Points in each Module of the Development Stage. Exploration Phase: contractual period in which the Exploration and Assessment must take place. Production Phase: contractual period in which the Development and Production Phase must take place. Brazilian Supplier: any manufacturer or supplier of goods produced or a service rendered in Brazil through companies incorporated under Brazilian laws or those that use manufactured goods in the country under special customs regimes and tax incentives applicable to the Oil and Natural Gas Industry.

Extraction of the. First Oil: date at which the first measurement of volumes of Oil and Natural Gas takes place in one of the Production Measuring Points in each Module of the Development Stage. Exploration Phase: contractual period in which the Exploration and Assessment must take place. Production Phase: contractual period in which the Development and Production Phase must take place. Brazilian Supplier: any manufacturer or supplier of goods produced or a service rendered in Brazil through companies incorporated under Brazilian laws or those that use manufactured goods in the country under special customs regimes and applicable tax incentives applicable to the Oil and Natural Gas Industryindustry.

Extraction of the. First Oil: date at which of the first measurement of volumes of Oil and Natural Gas takes place in at one of the Production Measuring Points Measurement Points, in each Module of the Development StageModule. Exploration Phase: contractual period in which the Exploration and Assessment Evaluation must take placeoccur. Production Phase: contractual period in which the Development and Production Phase must take placeoccur. Brazilian Supplier: any manufacturer or supplier of goods produced or a service rendered services provided in Brazil Brazil, through companies incorporated under Brazilian laws or those that make use of goods manufactured goods in the country Country under special customs regimes and tax incentives applicable to the Oil and Natural Gas Industry.