Common use of Oil and Gas Losses and Burning of Natural Gas Clause in Contracts

Oil and Gas Losses and Burning of Natural Gas. 12.9. The losses of Oil or Gas occurred under the responsibility of the Concessionaire, as well as burning of Gas in flares, shall be included in the Total Production Volume to be calculated for purposes of payment of the Government and Third-Party Shares, without prejudice to the provisions in Section Twenty-Nine and Section Thirty.

Oil and Gas Losses and Burning of Natural Gas. 12.9. The losses of Oil or Gas occurred under the responsibility of the Concessionaire, as well as burning of Natural Gas in flares, shall be included in the Total Production Volume to be calculated for purposes of payment of the Government and Third-Party Shares, without prejudice to the provisions in Section Twenty-Nine and Section Thirty.

Oil and Gas Losses and Burning of Natural Gas. 12.9. The losses of Oil or Gas occurred under the responsibility of the Concessionaire, as well as burning of Gas in flares, shall be included in the Total Production Volume to be calculated for purposes of payment of the Government and Third-Party Shares, without prejudice to the provisions in Section Twenty-Nine and Section Thirty. The burning of Natural Gas in flares will only be allowed for safety, emergency and commissioning reasons, with the maximum volume specified in the Applicable Laws.