Common use of Participation and management Clause in Contracts

Participation and management. Together with other joint ventures on the Norwegian Continental Shelf which have entered into a Joint Operation Agreement and an Accounting Agreement with corresponding provisions, the Parties are entitled to participate in an Industry Forum. Each licensee is entitled to one member. The licensees in Affiliated Companies are jointly entitled to one member only. Each member is entitled to be assisted in the meetings by relevant expert personnel. OLF (or another entity appointed by the Ministry, hereinafter “OLF”) shall ensure the initial constitution of the Industry Forum, shall act as its secretariat and appoint the leader of the Industry Forum from the OLF administration. The leader shall convene the meetings of the Industry Forum. A meeting shall be held at least once a Year, and otherwise when the leader finds there is a need for a meeting. Notice of the meeting shall be received by the members no later than 10 working days prior to the meeting. The notice shall state the time and place of the meeting and the matters to be dealt with, and shall contain sufficient background material. A member may, by giving no less than 5 working days’ notice to the leader and the other members, require that other matters, within the framework of the objects of the Industry Forum, be listed on the agenda for the meeting. Minutes of the meetings shall be made. The provisions of the Amendment Agreement Article 2 concerning minutes of meetings in the Partner Forum shall apply accordingly.

Participation and management. Together with other joint ventures on the Norwegian Continental Shelf which have entered into a Joint Operation Agreement and an Accounting Agreement with corresponding provisions, the Parties are entitled to participate in an Industry Forum. Each licensee is entitled to one member. The licensees in Affiliated Companies are jointly entitled to one member only. Each member is entitled to be assisted in the meetings by relevant expert personnel. OLF (or another entity appointed by the Ministry, hereinafter “OLF”) shall ensure the initial constitution of the Industry Forum, shall act as its secretariat and appoint the leader of the Industry Forum from the OLF administration. The leader shall convene the meetings of the Industry Forum. A meeting shall be held at least once a Year, and otherwise when the leader finds there is a need for a meeting. Notice of the meeting shall be received by the members no later than 10 working days prior to the meeting. The notice shall state the time and place of the meeting and the matters to be dealt with, and shall contain sufficient background material. A member may, by giving no less than 5 working days’ notice to the leader and the other members, require that other matters, within the framework of the objects of the Industry Forum, be listed on the agenda for the meeting. Minutes of the meetings shall be made. The provisions of the Amendment Article 5.7 of Attach- ment A – Joint Operation Agreement Article 2 of this Agreement concerning minutes of meetings in the Partner Forum shall apply accordingly.

Participation and management. Together with other joint ventures on the Norwegian Continental Shelf which have entered into a Joint Operation Agreement and an Accounting Agreement with corresponding provisions, the Parties are entitled to participate in an Industry Forum. Each licensee is entitled to one member. The licensees in Affiliated Companies are jointly entitled to one member only. Each member is entitled to be assisted in the meetings by relevant expert personnel. OLF (or another entity appointed by the Ministry, hereinafter “OLF”) shall ensure the initial constitution of the Industry Forum, shall act as its secretariat and appoint the leader of the Industry Forum from the OLF administration. The leader shall convene the meetings of the Industry Forum. A meeting shall be held at least once a Year, and otherwise when the leader finds there is a need for a meeting. Notice of the meeting shall be received by the members no later than 10 working days prior to the meeting. The notice shall state the time and place of the meeting and the matters to be dealt with, and shall contain sufficient background material. A member may, by giving no less than 5 working days’ notice to the leader and the other members, require that other matters, within the framework of the objects of the Industry Forum, be listed on the agenda for the meeting. Minutes of the meetings shall be made. The provisions of the Amendment Agreement Article 2 concerning minutes of meetings in the Partner Forum shall apply accordingly.the

Participation and management. Together with other joint ventures on the Norwegian Continental Shelf which have entered into a Joint Operation Agreement and an Accounting Agreement with corresponding provisions, the Parties are entitled to participate in an Industry Forum. Each licensee is entitled to one member. The licensees in Affiliated Companies are jointly entitled to one member only. Each member is entitled to be assisted in the meetings by relevant expert personnel. OLF (or another entity appointed by the Ministry, hereinafter “OLF”) shall ensure the initial constitution of the Industry Forum, shall act as its secretariat and appoint the leader of the Industry Forum from the OLF administration. The leader shall convene the meetings of the Industry Forum. A meeting shall be held at least once a Year, and otherwise when the leader finds there is a need for a meeting. Notice of the meeting shall be received by the members no later than 10 working days prior to the meeting. The notice shall state the time and place of the meeting and the matters to be dealt with, and shall contain sufficient background material. A member may, by giving no less than 5 working days’ notice to the leader and the other members, require that other matters, within the framework of the objects of the Industry Forum, be listed on the agenda for the meeting. Minutes of the meetings shall be made. The provisions of the Amendment Article 5.7 of Attach-ment A – Joint Operation Agreement Article 2 of this Agreement concerning minutes of meetings in the Partner Forum shall apply accordingly.