Common use of Industry Forum Clause in Contracts

Industry Forum. Participation and management Together with other joint ventures on the Norwegian Continental Shelf which have entered into a Joint Operating Agreement and an Accounting Agreement with corresponding provisions, the Parties are entitled to participate in an Industry Forum. Each licensee is entitled to one (1) member. The licensees in Affiliated Companies are all together entitled to one (1) member only. Each member is entitled to be assisted in the meetings by relevant expert personnel. Offshore Norge (or another entity appointed by the Ministry) shall act as its secretariat and appoint the chair of the Industry Forum. The chair shall convene the meetings of the Industry Forum. Any member can recommend that the chair convene meetings. Meetings shall always be convened for processing matters in pursuance of Article 2.3.2 litra b). Otherwise, meetings are convened when the chair finds that a case fulfils the terms in Article 2.3.2 litra a), or when at least two (2) members request such meetings. Notice of the meeting shall be received by the members no later than ten (10) working days prior to the meeting. It shall state the time and place for the meeting and the matters to be dealt with, as well as contain sufficient background material. A member may, by giving at least five (5) working days’ notice to the chair and the other members, require that other matters, within the framework of the objects of the Industry Forum, be listed on the agenda for the meeting. Minutes shall be kept of the meetings. The provisions in Article 5.6 in Attachment A - Joint Operating Agreement relating to protocol for the Partner Forum shall apply correspondingly. Tasks The purpose of the Industry Forum is to share information regarding matters that pertain to the interpretation and application of Attachment A – Joint Operating Agreement and Attachment B – Accounting Agreement, which are of mutual interest to the licensees, and discuss such matters in an effort to, in the extent possible, achieve uniform processing of similar cases across the joint ventures. The Industry Forum shall, inter alia, process: Matters that are suited for ensuring uniform practice in joint ventures with different operators that concern the interpretation and application of this Attachment B – Accounting Agreement and related matters in Attachment A – Joint Operating Agreement, including the operators’ charges and distribution of pension costs, and

Industry Forum. Participation and management Together with other joint ventures on the Norwegian Continental Shelf which have entered into a Joint Operating Agreement and an Accounting Agreement with corresponding provisions, the Parties are entitled to participate in an Industry Forum. Each licensee is entitled to one (1) member. The licensees in Affiliated Companies are all together entitled to one (1) member only. Each member is entitled to be assisted in the meetings by relevant expert personnel. Offshore Norge Norwegian Oil and Gas (or another entity appointed by the Ministry) shall act as its secretariat and appoint the chair of the Industry Forum. The chair shall convene the meetings of the Industry Forum. A meeting shall be held at least once per year. Any member can recommend that the chair convene additional meetings. Meetings shall always be convened for processing matters in pursuance of Article 2.3.2 litra b). Otherwise, meetings are convened when the chair finds that a case fulfils the terms in Article 2.3.2 litra a), or when at least two (2) members request such meetings. Notice of the meeting shall be received by the members no later than ten (10) working business days prior to the meeting. It shall state the time and place for the meeting and the matters to be dealt with, as well as contain sufficient background material. A member may, by giving at least five (5) working business days’ notice to the chair and the other members, require that other matters, within the framework of the objects of the Industry Forum, be listed on the agenda for the meeting. Minutes shall be kept of the meetings. The provisions in Article 5.6 5.7 in Attachment A - Joint Operating Agreement relating to protocol for the Partner Forum shall apply correspondingly. Tasks The purpose of the Industry Forum is to share information regarding matters that pertain to the interpretation and application of this Attachment B – Accounting Agreement and related issues in Attachment A – Joint Operating Agreement and Attachment B – Accounting Agreement, which are of mutual interest to the licensees, and discuss such matters in an effort to, in the extent possible, achieve uniform processing of similar cases across the joint ventures. The Industry Forum shall, inter alia, shall process: Matters that are suited for ensuring uniform practice in joint ventures with different operators that concern the interpretation and application of this Attachment B – Accounting Agreement and related matters issues in Attachment A – Joint Operating Agreement, including the operators’ charges and distribution of pension costs, and