Common use of Petroleum Costs Account Clause in Contracts

Petroleum Costs Account. The Contractor shall keep a “Petroleum Costs Account” to record in detail the expenses incurred and effectively paid by the Contractor in relation to the Petroleum Operations performed pursuant to this Agreement, which shall be recoverable in accordance with the provisions of articles 16 and 21 of the Agreement. Recovery of the Petroleum Costs will be on the basis of the expenses incurred and effectively paid. In particular, this Petroleum Costs Account shall separately indicate, by Appraisal Perimeter or Production Perimeter, if applicable, the following expenses:

Petroleum Costs Account. The Contractor shall keep maintain a “Petroleum Costs Account” to which will record in detail the expenses incurred and effectively paid by the Contractor in relation directly relating to the Petroleum Operations performed pursuant to carried out under this AgreementContract, and which shall will be recoverable in accordance with the provisions of articles Article 16 and 21 of the AgreementContract. Recovery of the Petroleum Costs will be on the basis of the expenses incurred and effectively paid. In particular, this Petroleum This petroleum Costs Account shall separately indicateshall, inter alia, record separately, by Appraisal Perimeter or Production Perimeter, of Exploitation Perimeter if applicableany, the following expenses: