Common use of Moving of Property Clause in Contracts

Moving of Property. In the event that the Contractor wishes to move property located on the Contract Area, but no longer used in Petroleum Operations to another location within Timor-Leste for further use prior approval of the Ministry shall be required. Upon receipt of such approval the Contractor shall pay to the Ministry either: (a) An amount equal to a transfer price mutually agreed upon by the Parties; or (b) If no price is agreed and the Contractor still wishes to move the property as provided herein, an amount equal to the percentage of the cost of such property that has been recovered by the Contractor as a Recoverable Cost under this Contract as of the date such property is moved multiplied by the depreciated value of the property determined in accordance with this Contract and international accounting standards.

Moving of Property. In the event that the Contractor wishes to move property located on the Contract Area, Area but no longer used in Petroleum Operations to another location within Timor-Leste for further use prior approval of the Ministry shall be required. Upon receipt of such approval the Contractor shall pay to the Ministry either: (a) An an amount equal to a transfer price mutually agreed upon by the Parties; , or (b) If if no price is agreed and the Contractor still wishes to move the property as provided herein, an amount equal to the percentage of the cost of such property that has been recovered by the Contractor as a Recoverable Cost under this Contract as of the date such property is moved multiplied by the depreciated value of the property determined in accordance with this Contract and international accounting standards.

Moving of Property. In the event that the Contractor wishes to move property located on the Contract Area, Area but no longer used in Petroleum Operations to another location within Timor-Leste for further use prior approval of the Ministry ANP shall be required. Upon receipt of such approval the Contractor shall pay to the Ministry ANP either: (a) An an amount equal to a transfer price mutually agreed upon by the Parties; , or (b) If if no price is agreed and the Contractor still wishes to move the property as provided herein, an amount equal to the percentage of the cost of such property that has been recovered by the Contractor as a Recoverable Cost under this Contract Agreement as of the date such property is moved multiplied by the depreciated value of the property determined in accordance with this Contract Agreement and international accounting standards.

Moving of Property. In the event that the Contractor wishes to Contractor’s move of property located on the Contract Area, but Area and no longer used in Petroleum Operations to another location within Timor-Leste Leste’s territory for further use use, is subject to ANPM’s prior approval of the Ministry shall be requiredapproval. Upon receipt of such approval approval, the Contractor shall pay to the Ministry TIMOR GAP either: (a) An an amount equal to a the transfer price mutually agreed upon by between the Parties; or (b) If if no price is agreed and the Contractor still wishes to move the Facilities or other property as provided hereinto other location, an amount equal to the percentage of the cost of such property that has been recovered by the Contractor as a Recoverable Cost under this Contract as of the date such property is moved moved, multiplied by the depreciated value of the same property determined in accordance with this Contract and international accounting standards.