Individualization of Production procedure aimed at sharing of the Production result and the reasonable use of the Country’s natural resources through unification of the Development and Production of the Deposits extending beyond the Concession Area;
Individualization of Production. 18.1. The procedure of Individualization of Production of Oil and Gas shall be started under the Applicable Laws and Regulations when it is identified that a Deposit extends beyond the Contract Area.
Individualization of Production. The procedure of Individualization of Production of Oil and Gas shall be started under the Applicable Laws and Regulations when it is identified that a Deposit extends beyond the Contract Area. The Agreement and the Commitment for Individualization of Production shall be prepared under the Applicable Laws and Regulations. EXECUTION OF OPERATIONS AND JOINT OPERATIONS SECTION NINETEEN – EXECUTION OF OPERATIONS BY THE CONSORTIUM MEMBERS Indication of the Operator by the Contractors The Operator is designated by the Contractors to, on their behalf: conduct and perform the Operations provided for in this Agreement; submit plans, programs, guarantees, proposals, and communications to ANP; receive replies, requests, proposals, and other communications from ANP. The Operator shall be responsible for full compliance with all the Contractors’ obligations set forth in this Agreement related to any aspect of the Operations and the payment of the Government Shares. In case of more than one Contractor, all of them shall be jointly liable for full compliance of all obligations of the Agreement. The Operator may transfer the responsible for the Operation at any time, upon submission of a request to ANP pursuant to Section Thirty and the Applicable Laws and Regulations. The Operator may be removed by ANP in case of failure to comply with any of the sections of this Agreement if it does not cure its default within ninety (90) days of receipt of the notice from ANP indicating the alleged default. In the events of transfer of responsibility for the Operation and dismissal of the Operator, the Contractors shall designate a new Operator, pursuant to the provisions of Annex XI and in Section Thirty, as appropriate. The new Operator may only develop its activities, assuming all rights and obligations provided for in this Agreement, after authorization of the Contracting Party, based on ANP’s opinion, and execution of the relevant addendum to the Agreement. The Operator referred to in paragraphs 19.3 and 19.4 shall transfer to the new Operator the custody of all properties used in the Operations, accounting records, files, and other documents related to the Contract Area and the Operations at stake. The Operator referred to in paragraphs 19.3 and 19.4 shall remain liable for any acts, incidents, or circumstances related to its position of Operator incurred during its management. Such Operator shall also remain liable for all obligations and responsibilities arising from its positi...
Individualization of Production. The procedure of Individualization of Production of Oil and Gas shall be started under the Applicable Laws and Regulations when it is identified that a Deposit extends beyond the Contract Area. The Agreement and the Commitment for Individualization of Production shall be prepared under the Applicable Laws and Regulations. EXECUTION OF OPERATIONS AND JOINT OPERATIONS SECTION NINETEEN – EXECUTION OF OPERATIONS BY THE CONSORTIUM MEMBERS Indication of the Operator by the Contractors Petrobras is the Operator under this Agreement and, on behalf of the Contracted Parties, shall: conduct and perform the Operations provided for in this Agreement; submit plans, programs, guarantees, proposals, and communications to ANP; receive replies, requests, proposals, and other communications from ANP. The Operator shall be responsible for full compliance with all the Contractors’ obligations set forth in this Agreement related to any aspect of the Operations and the payment of the Government Shares. In case of more than one Contractor, all of them shall be jointly liable for full compliance of all obligations of the Agreement.
Individualization of Production. Production Individualization Agreement
Individualization of Production. The procedure of Individualization of Production of Oil and Gas shall be initiated under the Applicable Laws and Regulations when it is identified that a Deposit extends beyond the Contract Area. EXECUTION OF OPERATIONS AND JOINT OPERATIONS SECTION NINETEEN – EXECUTION OF OPERATIONS BY THE CONSORTIUM MEMBERS Indication of the Operator by the Contracted Parties Petrobras is the Operator under this Agreement and, on behalf of the Contracted Parties, shall: conduct and perform the Operations provided for in this Agreement; submit plans, programs, guarantees, proposals, and communications to ANP; receive replies, requests, proposals, and other communications from ANP. The Operator shall be responsible for full compliance with all the Contractors’ obligations set forth in this Agreement related to any aspect of the Operations and the payment of the Government Shares. In case of more than one Contractor, all of them shall be jointly liable for full compliance of all obligations of the Agreement.
