Common use of Forward Quantity Statement Clause in Contracts

Forward Quantity Statement. No later than the first day of the first Month of the Quarter immediately preceding any Lifting Quarter, Contractor shall invoice ROC the outstanding Petroleum Costs, Supplementary Costs and Remuneration due and payable to Contractor under the Contract as it estimates these will stand on the first day of the said Lifting Quarter. ROC shall review the invoice and will either confirm its accuracy, or advise Contractor of any errors. The invoice shall be agreed by Contractor and ROC by the 15th of said first Month. Accordingly, no later than the first day of the second Month of the Quarter immediately preceding any Lifting Quarter, the Buyer shall furnish to the Seller a statement of the volume of Export Oil to be lifted from each standard export quality in each Month of the said Lifting Quarter (“Forward Quantity Statement”). The Forward Quantity Statement will be based on the Petroleum Costs, Supplementary Costs and Remuneration due and payable to Contractor as agreed by ROC, divided by the Provisional Export Oil Price. However, the volume of Export Oil to be lifted by Contractor in any Lifting Quarter shall not exceed the upper limit set for payment of due Petroleum Costs, Supplementary Costs and Remuneration, and the balance of such Petroleum Costs, Supplementary Costs and Remuneration, at the end of the said Lifting Quarter, shall be carried forward, all pursuant to Article 19 of the Contract and Annex C. ROC shall review the Forward Quantity Statement, and will no later than the last day of the Month of the preceding Lifting Quarter either confirm its accuracy, or advise Contractor of any errors in the calculation of the volumes to be lifted. The nominal quantity agreed for each Month may be varied by up to plus or minus five percent (5%) as operational tolerance at the time of actual loading. Actual quantity lifted is based on net xxxx of lading. For smooth and timely lifting and reporting under this Agreement, the Parties may establish a specialized “Joint Committee” with representatives from ROC, Contractor, and SOMO.

Forward Quantity Statement. No later than the first day of the first Month of the Quarter immediately preceding any Lifting Quarter, Contractor shall invoice ROC the outstanding Petroleum Costs, Supplementary Costs and Remuneration due and payable to Contractor under the Contract as it estimates these will stand on the first day of the said Lifting Quarter. ROC shall review the invoice and will either confirm its accuracy, or advise Contractor of any errors. The invoice shall be agreed by Contractor and ROC by the 15th of said first Month. Accordingly, no later than the first day of the second Month of the Quarter immediately preceding any Lifting Quarter, the Buyer shall furnish to the Seller a statement of the volume of Export Oil to be lifted from each standard export quality in each Month of the said Lifting Quarter (“Forward Quantity Statement”). The Forward Quantity Statement will be based on the Petroleum Costs, Supplementary Costs and Remuneration due and payable to Contractor as agreed by ROC, divided by the Provisional Export Oil Price. However, the volume of Export Oil to be lifted by Contractor in any Lifting Quarter shall not exceed the upper limit set for payment of due Petroleum Costs, Supplementary Costs and Remuneration, and the balance of such Petroleum Costs, Supplementary Costs and Remuneration, at the end of the said Lifting Quarter, shall be carried forward, all pursuant to Article 19 of the Contract and Annex C. ROC shall review the Forward Quantity Statement, and will no later than the last day of the second Month of the preceding Lifting Quarter either confirm its accuracy, or advise Contractor of any errors in the calculation of the volumes to be lifted. The nominal quantity agreed for each Month may be varied by up to plus or minus five percent (5%) as operational tolerance at the time of actual loading. Actual quantity lifted is based on net xxxx of lading. For smooth and timely lifting and reporting under this Agreement, the Parties may establish a specialized “Joint Committee” with representatives from ROC, Contractor, and SOMO.

Forward Quantity Statement. No later than the first day of the first Month of the Quarter immediately preceding any Lifting Quarter, Contractor shall invoice ROC SOC the outstanding Petroleum Costs, Service Fees and Supplementary Costs and Remuneration Fees due and payable to Contractor under the Contract as it estimates these will stand on the first last day of the said Lifting Quarter. ROC SOC shall review the invoice and will either confirm its accuracy, or advise Contractor of any errors. The invoice shall be agreed by Contractor and ROC by SOC the 15th of said first Month. Accordingly, no later than the first day of the second Month of the Quarter immediately preceding any Lifting Quarter, the Buyer shall furnish to the Seller a statement of the volume of Export Oil to be lifted from each standard export quality in each Month of the said Lifting Quarter (“"Forward Quantity Statement”"). The Forward Quantity Statement will shall be based on the Petroleum Costs, Service Fees and Supplementary Costs and Remuneration Fees due and payable to Contractor as agreed by ROCSOC, divided by the Provisional Export Oil Price. However, the volume of Export Oil to be lifted by Contractor in any Lifting Quarter shall not exceed the upper limit set for payment of due Petroleum Costs, Service Fees and Supplementary Costs and RemunerationFees, and the balance of such Petroleum Costs, Service Fees and Supplementary Costs and RemunerationFees, at the end of the said Lifting Quarter, shall be carried forward, all pursuant to Article 19 of the Contract and the Annex C. ROC SOC shall review the Forward Quantity Statement, and will no later than the last day of the Month of the preceding Lifting Quarter either confirm its accuracy, or advise Contractor of any errors in the calculation of the volumes to be lifted. The nominal quantity agreed for each Month may be varied by up to plus or minus five percent (5%) as operational tolerance at the time of actual loading. Actual quantity lifted is based on net xxxx of lading. For smooth and timely lifting and reporting under this these Heads of Agreement, the Parties may establish a specialized “"Joint Committee” " with representatives from ROCSOC, Contractor, and SOMO.

Forward Quantity Statement. No later than the first day of the first Month of the Quarter immediately preceding any Lifting Quarter, Contractor shall invoice ROC NOC the outstanding Petroleum Costs, Supplementary Costs and Remuneration due and payable to Contractor under the Contract as it estimates these will stand on the first day of the said Lifting Quarter. ROC NOC shall review the invoice and will either confirm its accuracy, or advise Contractor of any errors. The invoice shall be agreed by Contractor and ROC NOC by the 15th of said first Month. Accordingly, no later than the first day of the second Month of the Quarter immediately preceding any Lifting Quarter, the Buyer shall furnish to the Seller a statement of the volume of Export Oil to be lifted from each standard export quality in each Month of the said Lifting Quarter (“Forward Quantity Statement”). The Forward Quantity Statement will be based on the Petroleum Costs, Supplementary Costs and Remuneration due and payable to Contractor as agreed by ROCNOC, divided by the Provisional Export Oil Price. However, the volume of Export Oil to be lifted by Contractor in any Lifting Quarter shall not exceed the upper limit set for payment of due Petroleum Costs, Supplementary Costs and Remuneration, and the balance of such Petroleum Costs, Supplementary Costs and Remuneration, at the end of the said Lifting Quarter, shall be carried forward, all pursuant to Article 19 of the Contract and Annex C. ROC NOC shall review the Forward Quantity Statement, and will no later than the last day of the Month of the preceding Lifting Quarter either confirm its accuracy, or advise Contractor of any errors in the calculation of the volumes to be lifted. The nominal quantity agreed for each Month may be varied by up to plus or minus five percent (5%) as operational tolerance at the time of actual loading. Actual quantity lifted is based on net xxxx of lading. For smooth and timely lifting and reporting under this Agreement, the Parties may establish a specialized “Joint Committee” with representatives from ROCNOC, Contractor, and SOMO.

Forward Quantity Statement. No later than the first day of the first Month of the Quarter immediately preceding any Lifting Quarter, Contractor shall invoice ROC NOC the outstanding Petroleum Costs, Service Fees and Supplementary Costs and Remuneration Fees due and payable to Contractor under the this Contract as it estimates these will stand on the first day of the said Lifting Quarter. ROC NOC shall review the invoice and will either confirm its accuracy, or advise Contractor of any errors. The invoice shall be agreed by Contractor and ROC by the 15th of said first Month. Accordingly, no later than the first day of the second Month of the Quarter immediately preceding any Lifting QuarterMonth, the Buyer shall furnish to the Seller a statement of the volume of Export Oil to be lifted from each standard export quality in each Month of the said Lifting Quarter (“"Forward Quantity Statement”"). The Forward Quantity Statement will be based on the Petroleum Costs, Service Fees and Supplementary Costs and Remuneration Fees due and payable to Contractor as agreed by ROCNOC, divided by the Provisional relevant Export Oil Price which shall be determined in accordance with Article 18 of this Contract, applicable for the Month before the Forward Quantity Statement or for the preceding Month if the former is not available ("Provisional Price"). However, the volume of Export Oil to be lifted by Contractor in any Lifting Quarter shall not exceed the upper limit set for payment of due Petroleum Costs, Service Fees and Supplementary Costs and RemunerationFees, and the balance of such Petroleum Costs, Service Fees and Supplementary Costs and RemunerationFees, at the end of the said Lifting Quarter, shall be carried forward, all pursuant to Article 19 of the this Contract and Annex C. ROC The price used for calculating the volume from each standard export quality for the first Lifting Quarter shall be based on the monthly declared SOMO's official Export Oil Price for that quality to be lifted during any month of the said Quarter. The volumes of the different qualities of Export Oil to be lifted by the Buyer in a Lifting Quarter shall be in the same proportion as the different qualities of Net Production from the Field during the Quarter, or as otherwise agreed between the Seller and the Buyer. NOC shall review the Forward Quantity Statement, and will no later than the last day of the Month of the preceding Lifting Quarter either confirm its accuracy, or advise Contractor of any errors in the calculation of the volumes to be lifted. The nominal quantity agreed for each Month may be varied by up to plus or minus five percent (5%) as operational tolerance at the time of actual loading. Actual quantity lifted is based on net xxxx of lading. For smooth and timely lifting and reporting under this Agreement, the Parties may establish a specialized “"Joint Committee” " with representatives from ROCNOC, Contractor, and SOMO.

Forward Quantity Statement. No later than the first day of the first Month of the Quarter immediately preceding any Lifting Quarter, Contractor Company shall invoice ROC SOC the outstanding Petroleum Costs, Service Fees and Supplementary Costs and Remuneration Fees due and payable to Contractor Company under the Contract as it estimates these will stand on the first day of the said Lifting Quarter. ROC SOC shall review the invoice and will either confirm its accuracy, or advise Contractor Company of any errors. The invoice shall be agreed by Contractor Company and ROC by SOC the 15th of said first Month. Accordingly, no later than the first day of the second Month of the Quarter immediately preceding any Lifting QuarterMonth, the Buyer shall furnish to the Seller a statement of the volume of Export Oil to be lifted from each standard export quality in each Month of the said Lifting Quarter (“"Forward Quantity Statement”"). The Forward Quantity Statement will be based on the Petroleum Costs, Service Fees and Supplementary Costs and Remuneration Fees due and payable to Contractor Company as agreed by ROCSOC, divided by the Provisional relevant Export Oil Price which shall be determined in accordance with Article 18 of the Contract, applicable for the Month before the Forward Quantity Statement is furnished or for the preceding Month if the former is not available ("Provisional Price"). However, the volume of Export Oil to be lifted by Contractor Company in any Lifting Quarter shall not exceed the upper limit set for payment of due Petroleum Costs, Service Fees and Supplementary Costs and RemunerationFees, and the balance of such Petroleum Costs, Service Fees and Supplementary Costs and RemunerationFees, at the end of the said Lifting Quarter, shall be carried forward, all pursuant to Article 19 of the Contract and the Annex C. ROC The price used for calculating the volume from each standard export quality for the first Lifting Quarter shall be based on the declared average of all destinations of SOMO's official Export Oil Price for that quality to be lifted during any Month of the said Quarter. The volumes of the different qualities of Export Oil to be lifted by the Buyer in a Lifting Quarter shall be in the same proportion as the different qualities of Net Production from the Field during the Quarter, or as otherwise agreed between the Seller and the Buyer. SOC shall review the Forward Quantity Statement, and will no later than the last day of the Month of the preceding Lifting Quarter either confirm its accuracy, or advise Contractor Company of any errors in the calculation of the volumes to be lifted. The nominal quantity agreed for each Month may be varied by up to plus or minus five percent (5%) as operational tolerance at the time of actual loading. Actual quantity lifted is based on net xxxx bill of lading. For smooth and timely lifting and reporting under this these Heads of Agreement, the Parties may establish a specialized “"Joint Committee” " with representatives from ROCSOC, ContractorCompany, and SOMO.

Forward Quantity Statement. No later than the first day of the first Month of the Quarter immediately preceding any Lifting Quarter, Contractor shall invoice ROC the outstanding Petroleum Costs, Service Fees and Supplementary Costs and Remuneration Fees due and payable to Contractor under the Contract as it estimates these will stand on the first last day of the said Lifting Quarter. ROC shall review the invoice and will either confirm its accuracy, or advise Contractor of any errors. The invoice shall be agreed by Contractor and ROC by the 15th of said first Month. Accordingly, no later than the first day of the second Month of the Quarter immediately preceding any Lifting Quarter, the Buyer shall furnish to the Seller a statement of the volume of Export Oil to be lifted from each standard export quality in each Month of the said Lifting Quarter (“"Forward Quantity Statement”"). The Forward Quantity Statement will shall be based on the Petroleum Costs, Service Fees and Supplementary Costs and Remuneration Fees due and payable to Contractor as agreed by ROC, divided by the Provisional Export Oil Price. However, the volume of Export Oil to be lifted by Contractor in any Lifting Quarter shall not exceed the upper limit set for payment of due Petroleum Costs, Service Fees and Supplementary Costs and RemunerationFees, and the balance of such Petroleum Costs, Service Fees and Supplementary Costs and RemunerationFees, at the end of the said Lifting Quarter, shall be carried forward, all pursuant to Article 19 of the Contract and the Annex C. ROC shall review the Forward Quantity Statement, and will no later than the last day of the Month of the preceding Lifting Quarter either confirm its accuracy, or advise Contractor of any errors in the calculation of the volumes to be lifted. The nominal quantity agreed for each Month may be varied by up to plus or minus five percent (5%) as operational tolerance at the time of actual loading. Actual quantity lifted is based on net xxxx of lading. For smooth and timely lifting and reporting under this these Heads of Agreement, the Parties may establish a specialized “"Joint Committee” " with representatives from ROC, Contractor, and SOMO.

Forward Quantity Statement. No later than the first day of the first Month of the Quarter immediately preceding any Lifting Quarter, Contractor shall invoice ROC the outstanding Petroleum Costs, Service Fees and Supplementary Costs and Remuneration Fees due and payable to Contractor under the this Contract as it estimates these will stand on the first day of the said Lifting Quarter. ROC shall review the invoice and will either confirm its accuracy, or advise Contractor of any errors. The invoice shall be agreed by Contractor and ROC by the 15th of said first Month. Accordingly, no later than the first day of the second Month of the Quarter immediately preceding any Lifting QuarterMonth, the Buyer shall furnish to the Seller a statement of the volume of Export Oil to be lifted from each standard export quality in each Month of the said Lifting Quarter (“"Forward Quantity Statement”"). The Forward Quantity Statement will be based on the Petroleum Costs, Service Fees and Supplementary Costs and Remuneration Fees due and payable to Contractor as agreed by ROC, divided by the Provisional relevant Export Oil Price which shall be determined in accordance with Article 18 of this Contract, applicable for the Month before the Forward Quantity Statement or for the preceding Month if the former is not available ("Provisional Price"). However, the volume of Export Oil to be lifted by Contractor in any Lifting Quarter shall not exceed the upper limit set for payment of due Petroleum Costs, Service Fees and Supplementary Costs and RemunerationFees, and the balance of such Petroleum Costs, Service Fees and Supplementary Costs and RemunerationFees, at the end of the said Lifting Quarter, shall be carried forward, all pursuant to Article 19 of the this Contract and the Annex C. The price used for calculating the volume from each standard export quality for the first Lifting Quarter shall be based on the monthly declared SOMO's official Export Oil Price for that quality to be lifted during any month of the said Quarter. The volumes of the different qualities of Export Oil to be lifted by the Buyer in a Lifting Quarter shall be in the same proportion as the different qualities of Net Production from the Field during the Quarter, or as otherwise agreed between the Seller and the Buyer. ROC shall review the Forward Quantity Statement, and will no later than the last day of the Month of the preceding Lifting Quarter either confirm its accuracy, or advise Contractor of any errors in the calculation of the volumes to be lifted. The nominal quantity agreed for each Month may be varied by up to plus or minus five percent (5%) as operational tolerance at the time of actual loading. Actual quantity lifted is based on net xxxx of lading. For smooth and timely lifting and reporting under this Agreement, the Parties may establish a specialized “"Joint Committee” " with representatives from ROC, Contractor, and SOMO.