Common use of FINANCIAL AND ACCOUNTING STATEMENTS Clause in Contracts

FINANCIAL AND ACCOUNTING STATEMENTS. The Contractor shall provide the Government with all reports, records and statements indicated in the provisions of the Agreement and current legislation, and especially the following accounting and financial statements: 5.1. Statement of exploration work obligations 5.2. Petroleum Costs recovery statement a) the amount of Petroleum Costs still to be recovered at the beginning of the Calendar Quarter; b) the amount of Petroleum Costs relative to the Calendar Quarter in question, recoverable according to the provisions of the Agreement; c) the quantity and the value of the production of Hydrocarbons taken during the Calendar Quarter by the Contractor to recover Petroleum Costs; d) the amount of income or proceeds credited pursuant to article 2.4.b) of this Accounting Procedure during the quarter; e) the amount of Petroleum Costs still to be recovered at the end of the Calendar Quarter. Furthermore, an annual Petroleum Costs recovery statement shall be submitted before the end of February of each Calendar Year.