Common use of Hydrocarbons Extracted During Tests Clause in Contracts

Hydrocarbons Extracted During Tests. Hydrocarbons obtained from performance of any test made to determine the characteristics of a reservoir and its production flows shall be delivered to the Marketer at the location established in the Work Program approved by CNH for the Appraisal activities. The Fund will receive from the Marketer the revenues resulting from marketing and will transfer to the Contractor the amounts that correspond in accordance with the mechanisms indicated in Annex 3. With respect to the calculation and payments executed by the Fund in accordance with this Article 5.4, Hydrocarbons obtained during the performance of any test made to determine the characteristics of the reservoirs and the production flows will be considered as Regular Commercial Production.

Hydrocarbons Extracted During Tests. Hydrocarbons obtained from performance of any test made to determine the characteristics of a reservoir and its production flows shall be delivered to the Marketer at the location established in the Work Program approved by CNH for the Appraisal activities. The Fund will receive from the Marketer the revenues resulting from marketing and will transfer to the Contractor the corresponding amounts that correspond in accordance with the mechanisms indicated in Annex 3. With respect to the calculation and payments executed by the Fund in accordance with this Article 5.4., the Hydrocarbons obtained during the performance of any test made to determine the characteristics of the reservoirs reservoir and the production flows will be considered as Regular Commercial Production.