Common use of Operating Account and Records Clause in Contracts

Operating Account and Records. (a) Contractor and Operator shall open and maintain all accounts and records necessary to document in detail and in separate accounts the transactions relating to Petroleum Operations, in accordance with accepted and recognized accounting principles consistent with modern international petroleum industry practices, all in accordance with and subject to the provisions of the Contract. The accounts and records should show, among other things, the following:

Operating Account and Records. (a) Contractor and Operator shall open and maintain all accounts and records necessary to document in reasonable detail and in separate accounts the transactions relating to Petroleum Operations, in accordance with generally accepted and recognized accounting principles consistent with modern international petroleum industry practices, all in accordance with and subject to the provisions of the Contract. The accounts and records should show, among other things, the following:

Operating Account and Records. (a) Contractor and Operator shall open and maintain all accounts and records necessary to document in reasonable detail and in separate accounts the transactions relating to Petroleum Operations, in accordance with generally accepted and recognized accounting principles consistent with modern international petroleum industry practicesprinciples, all in accordance with and subject to the provisions of the this Contract. The accounts and records should show, among other things, the following:.

Operating Account and Records. (a) Contractor and Operator shall open and maintain all accounts and records necessary to document in reasonable detail and in separate accounts the transactions relating to Petroleum Operations, in accordance with generally accepted and recognized accounting principles consistent with modern international petroleum industry practices, all in accordance with and subject to the provisions of the this Contract. The accounts and records should show, among other things, the following:

Operating Account and Records. (a) Contractor and Operator shall open and maintain all accounts and records necessary to document in reasonable detail and in separate accounts the transactions relating to Petroleum Operations, in accordance with generally accepted and recognized recognised accounting principles consistent with modern international petroleum industry practicesBest International Petroleum Industry Practices, all in accordance with and subject to the provisions of the this Contract. The accounts and records should show, among other things, the following:.