Lifting Schedule. 1. The Operating Committee shall approve a Lifting Schedule, not later than ninety (90) days prior to January 1 and July 1 of each Civil Year following the commencement of Production under the approved Production Plan, and furnish in writing to Sonangol and Contractor a forecast setting out the total quantity of Petroleum that the Operating Committee estimates can be produced, saved, transported and lifted hereunder during each of the next four (4) Quarters in accordance with sound practices generally accepted in the international petroleum industry. 2. Contractor shall endeavour to produce in each Quarter the quantity of Petroleum forecast in the Production Plan. 3. The Crude Oil shall be run to storage tanks built, maintained and operated by Contractor offshore, and shall be metered or otherwise measured as required to meet the purposes of this Agreement and the Law.
Appears in 6 contracts
Samples: Risk Services Agreement, Risk Services Agreement, Risk Services Agreement (Cobalt International Energy, Inc.)
