Joint Operating Agreement. (JOA) Within six (6) months from the Effective Date, the Participants shall enter into the Joint Operating Agreement which shall embody the principles stipulated in this JOA Heads of Agreement and it may include such other provisions as customarily used by international petroleum industry and shall continue in effect as long as the Contract is in effect.
Joint Operating Agreement. In the event there is more than one (1) Contractor Party, a joint operating agreement between the entities shall be executed within ninety (90) days of the Effective Date and submitted to the Minister for his information. Contractor shall also supply to the Minister for his information any other agreements executed by the entities comprising Contractor relating to the conduct of Petroleum Operations under this Contract within ten (10) days of execution of such agreements. Changes made to any of these agreements shall be submitted to the Minister for his information within ten (10) days of the execution of such changes.
Joint Operating Agreement. LEEXUS OIL and PARTICIPANT (NON-OPERATOR) agree to add, amend, ratify the current Master Joint Operating Agreement (“Master JOA”) with XXXXX Joint Accounting Procedure, originally signed and dated September 9, 2008, and contemporaneously herewith, designating LEEXUS OIL L.L.C. as Operator of the XXXXX. PARTICIPANT (NON-OPERATOR) will be responsible and liable for paying their proportionate share of any and all monthly operating costs, rework costs or any and all other costs as may be incurred as a result of conducting operations in accordance with the Master JOA as of the effective date and thereafter. In the event of any conflict between the provisions of the Joint Operating and this Letter Agreement, both parties agree the terms of this Letter Agreement shall control.
Joint Operating Agreement. Within forty-five (45) days following the Effective Date, the Contractor shall provide the Ministry with a draft of the Joint Operating Agreement which shall be based upon the current model form operating agreement from the Association of International Petroleum Negotiators (AIPN). The Joint Operating Agreement and all amendments thereto shall be subject to the prior approval of the Ministry. The identity of the Technical Operator and any change thereto shall be subject to the prior approval of the Ministry in accordance with the Hydrocarbons Law. The National Company shall be appointed as the Administrative Operator under the Joint Operating Agreement.
Joint Operating Agreement. 4.1 Each Assignor by becoming a party to this Agreement agrees to be bound by the Addendum in Exhibit G and to execute and procure the execution by Oriental of the Addendum in Exhibit G and to be bound by the Supplemented JOA with effect from the date of this Agreement and agrees that in the event of any inconsistency between the Supplemented JOA and the Operating Agreement referred to in Recital B the Supplemented JOA prevails to the extent of the inconsistency.
4.2 Whilst SOCDET is carrying out the Work Program in clause 2.1(a), the parties agree that the text of certain amendments to the Operating Agreement shall be agreed to provide for the following principles of allocation, once SOCDET shall have earned a Farmout Interest as herein contemplated and after appropriate DOE approval of the relevant assignment of interest:
(a) the Filipino Participation Incentive Allowance allowed under the Service Contract shall be allocated between SOCDET and the Consortium in the same manner as the allocation of the Production Allowance applicable to each Block under the Service Contract, and the Operating Agreement;
(b) the Cost Recovery allowed Contractor under the Service Contract shall be allocated between SOCDET and the Consortium in proportion to their respective Participating Interests in each Block from which petroleum production or production proceeds is derived;
(c) the Net Proceeds share of Contractor under the Service Contract shall be allocated to SOCDET and the Consortium in proportion to their respective Participating Interests in each Block from which petroleum production or production proceeds is derived; and
(d) as among the parties comprising the Consortium, the Contractor's entitlements above allocated to the Consortium shall be governed by the Settlement Agreement without effect of this clause 4.2.
4.3 Using for illustrative purposes only Block C and assuming SOCDET shall have earned its 60% Participating Interest in that Block the intended effect of clause 4.2 is shown in Exhibits D & E attached.
4.4 Following the receipt by the Consortium of the data under clause 2.1(d) above and prior to the exercise by SOCDET of the Drilling Option the Supplemented JOA will be reviewed and changes negotiated in good faith in order to make its provisions more consistent with then applicable current practices in the international exploration and production oil and gas industry. The revised draft will be prepared by SOCDET and will also consolidate the amendments ...
Joint Operating Agreement. At such time each ITW reaches Casing Point and Ridgewood earns the interest set forth herein, the relationship of the Parties shall henceforth be governed by the Joint Operating Agreement attached hereto as Exhibit "C". Such JOA shall be deemed a separate agreement for each Lease and at such time as Ridgewood has earned a Lease in accordance with 4 above, LLOG and Ridgewood shall enter into a JOA covering such earned Lease. Such separate JOA shall be identical to the JOA executed herein but in the case where other parties (which parties are listed on Exhibit "A" to the JOA) are participating in the Lease, LLOG shall attempt to have such parties execute the same JOA.
Joint Operating Agreement. The contractor will provide the Ministry with a copy of the draft Joint Operating Agreement (JOA) no later than … (…) days after the Effective Date, linking the entities making up the Contractor group, and naming the entity designated as the Operator.
Joint Operating Agreement. The Parties shall execute, acknowledge and deliver a Joint Operating Agreement substantially in the form of Exhibit C, naming Eternal as Operator (the “Joint Operating Agreement”) and a memorandum of the same in recordable form.
Joint Operating Agreement or JOA means the joint operating agreement that rules the internal relations of the Parties making up the Contractor in carrying out Petroleum Operations in the Contract Area.
Joint Operating Agreement. Joint operating agreement covering the Poznań area, entered into on 1 June 2004 between the Purchaser and the Seller, on the basis of which both parties will have the ownership title to the Gas in the following proportions (shares) – the Seller – 49% and the Purchaser 51%;
