General Research and Development Clause Samples

General Research and Development. The Operator's cost for General Research and Development may be charged to the Joint Account in proportion to the exploration, development and operating cost of the year in accordance with the following provisions: Projects which are not subjected to unlimited audit may be charged to the Joint Account according to the following per cent rates and limits based on annual costs except for area fees, CO2 duty, NOX duty when directly imposed on the Joint operation, purchase of gas for injection and tariffs paid in connection with the processing of petroleum on a third party’s field installation: Exploration cost: 0 - 300 millionNOK 2.5% Operating cost: 0 - 1000 million NOK 2.7% 1000 - 2500 million NOK 1.0% Development cost: 0 - 1000 million NOK 2.5% ▇▇▇▇ - ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇ 1.0% 2000 - 3500 million NOK 0.5% Tariffs received for the processing of other companies’ petroleum and other revenues that are credited to the Joint Account shall not be deducted at the calculation of the above-mentioned cost. Exploration cost means all cost charged to the Joint Account as exploration cost by decision of the management committee, i.e. normally cost until an approved development plan is established, and in addition all cost outside the area comprised by the development plan. Operating cost means all cost charged to the Joint Account as operating cost by decision of the management committee, i.e. normally direct cost of production and direct and indirect expenses of the operating organisation before and after commencement of production, excluding exploration cost. Development cost means all cost charged to the Joint Account as investments by decision of the management committee, i.e. normally all cost excluding operating cost (including cost related to preparation for operation) for activities in the area comprised by the development plan. Removal cost shall be dealt with as development cost. The Operator shall each Year document that General Research and Development cost has a useful effect for the Norwegian Continental Shelf and has been charged to an extent at least corresponding to the chargeable amounts against the relevant Joint Accounts. The Operator shall charge the Joint Account with the percentage additions at the time of periodic settlement of accounts. Cost charged to the Joint Account in accordance with this Article is not to be included in the basis of calculation. To the extent the Operator is unable to document a cost level sufficient to fully charge the percen...

General Research and Development. Corporate Staff and Corporate Management

General Research and Development. The Operator's cost for General Research and Development may be charged to the Joint Account in proportion to the exploration, development and operating cost of the year in accordance with the following provisions: Projects which are not subjected to unlimited audit may be charged to the Joint Account according to the following per cent rates and limits based on annual costs except for area fees, CO2 tax, NOX tax when directly imposed on the Joint operation, purchase of gas for injection and tariffs paid in connection with the processing of petroleum on third party field installations: Exploration cost: 0 - 300 million NOK 2.5% Operating cost: 0 - 1000 million NOK 2.7% 1000 - 2500 million NOK 1.0% Development cost: 0 - 1000 million NOK 2.5% ▇▇▇▇ - ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇ 1.0% 2000 - 3500 million NOK 0.5% Tariffs received for the processing of other companies’ petroleum and other revenues that are credited to the Joint Account shall not be deducted when calculating the above-mentioned cost. Exploration cost means all costs charged to the Joint Account as exploration cost by decision of the management committee, i.e. normally costs until an approved development plan is established, as well as all costs outside the area comprised by the development plan.