Common use of GENERAL CLASSIFICATION OF PETROLEUM COSTS Clause in Contracts

GENERAL CLASSIFICATION OF PETROLEUM COSTS. All costs related to Petroleum Operations will be classified in accordance with their end use Classification criteria will be included in the approved Annual Work Program and Annual Budget for the Calendar Year in which the expenditure is made. All Petroleum Operations Costs will be classified, defined, and allocated as stated below. 2.1 EXPLORATION COSTS Any and all direct, general, and administrative costs incurred during Hydrocarbon Exploration and Appraisal activities in an area that is part of the Contract Area, including but not limited to: (a) surveys and aerial, geophysical, geochemical, paleontological, geological, topographical, and seismic studies and their interpretation; (b) core hole drilling; (c) any labor, materials, supplies, and services used in drilling Exploration Xxxxx and Evaluation Xxxxx; (d) any facilities used solely in support of the purposes described in paragraphs (a), (b), and (c) above, including access roads and acquired geological and geophysical data, all separately identified; and (e) any other cost incurred in the Exploration and Evaluation of Hydrocarbons after the Effective Date but prior to the date of approval of a Development and Production Plan with respect to the relevant Field and not covered under Articles 2.2, 2.3, and 2.4 below.

GENERAL CLASSIFICATION OF PETROLEUM COSTS. All costs related to Petroleum Operations will be classified in accordance with their end use use. Classification criteria will be included in the approved Annual Work Program and Annual Budget for the Calendar Year in which the expenditure is made. All Petroleum Operations Costs will be classified, defined, and allocated as stated below. 2.1 EXPLORATION COSTS Any and all direct, general, and administrative costs incurred during Hydrocarbon Exploration and Appraisal activities in an area that is part of the Contract Area, including but not limited to: (a) surveys and aerial, geophysical, geochemical, paleontological, geological, topographical, and seismic studies and their interpretation; (b) core hole drilling; (c) any labor, materials, supplies, and services used in drilling Exploration Xxxxx and Evaluation Appraisal Xxxxx; (d) any facilities used solely in support of the purposes described in paragraphs (a), (b), and (c) above, including access roads and acquired geological and geophysical data, all separately identified; and (e) any other cost incurred in the Exploration and Evaluation Appraisal of Hydrocarbons after the Effective Date but prior to the date of approval of a Development and Production Plan with respect to the relevant Field and not covered under Articles 2.2, 2.3, and 2.4 below.