Common use of PROCESSING OF PRODUCTS Clause in Contracts

PROCESSING OF PRODUCTS. 15.4.1 CONTRACTOR shall be willing to consider to come to another contract or loan agreement for the processing of product derived from the Petroleum Operations hereunder, on mutually agreeable terms. 15.4.2 Within the framework of the preceding principle, CONTRACTOR would agree subject to the conditions stated below to have refined in Indonesia twenty-eight point five seven percent (28.57%) of the portion of Crude Oil to which it is entitled pursuant to clauses 6.1.3 and 6.3.1. hereof and should no refining capacity be available therefore to set up a corresponding refining capacity for that purpose. The conditions above referred to are that: (a) PERTAMINA has first requested CONTRACTOR thereto; (b) CONTRACTOR's portion of Crude Oil pursuant to clauses 6.1.3 and 6.3.1 hereof be not less than one hundred thousand (100,000) Barrels per day; and (c) if refining capacity has to be erected that the setting up and use of such refining capacity be economical in the judgment of the Parties. 15.4.3 It is further agreed that CONTRACTOR may in lieu of setting up such refining capacity, but subject to the same conditions, make an equivalent investment in another project related to petroleum or petrochemical industries. 15.4.4 Petroleum to be delivered to such facilities would be sold by CONTRACTOR at the net realized prices f.o.

PROCESSING OF PRODUCTS. 15.4.1 CONTRACTOR shall be willing to consider to come to another contract or loan agreement for the processing of product products derived from the Petroleum Operations hereunder, on mutually agreeable terms. 15.4.2 Within the framework of the preceding principle, CONTRACTOR would agree subject to on the conditions stated below to have refined in Indonesia twenty-twenty eight point five seven percent (28.57%) of the portion CONTRACTOR’S share of Crude Oil to which it is entitled pursuant to clauses 6.1.3 and 6.3.1. hereof 6.3.1 of hereof, and should no refining capacity be available therefore to set up a corresponding refining capacity for that purpose. The conditions above referred to are that: (a) PERTAMINA has first requested CONTRACTOR thereto; (b) CONTRACTOR's portion ’s share of Crude Oil pursuant to clauses clause 6.1.3 and clause 6.3.1 hereof be not less than one hundred thousand (100,000) Barrels per day; and (c) if refining capacity has to be erected that the setting up and use of such refining capacity be economical in the judgment of the Parties. 15.4.3 It is further agreed that CONTRACTOR may in lieu of setting up such refining capacity, but subject to the same conditions, make an equivalent investment in another project related to petroleum or petrochemical industries. 15.4.4 Petroleum to be delivered to such facilities would be sold by CONTRACTOR at the net realized prices f.o.

PROCESSING OF PRODUCTS. 15.4.1 16.4.1 CONTRACTOR shall be willing to consider to come to another contract or loan agreement for the processing of product products derived from the Petroleum Operations hereunder, on mutually agreeable terms. 15.4.2 16.4.2 Within the framework of the preceding principle, principles CONTRACTOR would agree subject to on the conditions stated below to have refined in Indonesia twenty-twenty eight point decimal five seven percent (28.57%) of the portion share of Crude Oil crude oil to which it is entitled pursuant to clauses Section 6.1.3 and 6.3.1. hereof hereof, and should no refining capacity be available therefore therefor to set up a corresponding refining capacity for that purposepurpose . The conditions above referred to are thatthat : (a) PERTAMINA has first requested CONTRACTOR thereto; (b) CONTRACTOR's portion share of Crude Oil crude oil pursuant to clauses subsections 6.1.3 and 6.3.1 of section VI hereof be not less than one hundred thousand (100,000) Barrels per day; , and; (c) if refining capacity has to be erected that the setting up and use of such refining capacity be economical in the judgment judgement of the Parties. 15.4.3 16.4.3 It is further agreed that CONTRACTOR may in lieu of setting up such refining capacitycapacity , but subject to the same conditions, make an equivalent investment in another project related to petroleum or petrochemical industries. 15.4.4 16.4.4 Petroleum to be delivered to such facilities would be sold by CONTRACTOR at the net realized prices f.o.price F.O.B Indonesia received by CONTRACTOR established pursuant to Section VII hereof or at another mutually agreed price. --o0o--

PROCESSING OF PRODUCTS. 15.4.1 14.4.1 CONTRACTOR shall be willing to consider to come to another contract or loan agreement for the processing of product products derived from the Petroleum Operations hereunder, on mutually agreeable terms. 15.4.2 14.4.2 Within the framework of the preceding principle, CONTRACTOR would agree subject to the conditions stated below to have refined in Indonesia twenty-eight point five seven percent (28.57%) of the portion of Crude Oil to which it is entitled pursuant to clauses 6.1.3 and 6.3.1. clause 5.1.3 hereof and should no refining capacity be available therefore to set up a corresponding refining capacity for that purpose. The conditions above referred to are that: (a) PERTAMINA has first requested CONTRACTOR thereto; (b) CONTRACTOR's ’s portion of Crude Oil pursuant to clauses 6.1.3 and 6.3.1 clause 5.1.3 hereof be not less than one hundred seventy five thousand (100,00075,000) Barrels per day; and (c) if refining capacity has to be erected that the setting up and use of such refining capacity be economical in the judgment of the Parties. 15.4.3 14.4.3 It is further agreed that CONTRACTOR may in lieu of setting up such refining capacity, but subject to the same conditions, make an equivalent investment in another project related to petroleum or petrochemical industries. 15.4.4 14.4.4 Petroleum to be delivered to such facilities would be sold by CONTRACTOR at the net realized prices f.o.

PROCESSING OF PRODUCTS. 15.4.1 CONTRACTOR shall be willing to consider to come to another contract or loan agreement for the processing of product derived from the Petroleum Operations hereunder, on mutually agreeable terms. 15.4.2 Within the framework of the preceding principle, CONTRACTOR would agree subject to the conditions stated below to have refined in Indonesia twenty-eight point five seven percent (28.57%) of the portion of Crude Oil to which it is entitled pursuant to clauses 6.1.3 and 6.3.1. hereof and should no refining capacity be available therefore to set up a corresponding refining capacity for that purpose. The conditions above referred to are that: (a) PERTAMINA has first requested CONTRACTOR thereto; (b) CONTRACTOR's portion of Crude Oil pursuant to clauses 6.1.3 and 6.3.1 hereof be not less than one hundred thousand (100,000) Barrels per day; and (c) if refining capacity has to be erected that the setting up and use of such refining capacity be economical in the judgment of the Parties. 15.4.3 It is further agreed that CONTRACTOR may in lieu of setting up such refining capacity, but subject to the same conditions, make an equivalent investment in another project related to petroleum or petrochemical industries. 15.4.4 Petroleum to be delivered to such facilities would be sold by CONTRACTOR at the net realized prices f.o.prices