Production Sharing Contract Sample Clauses

Production Sharing Contract. In accordance with the provisions herein contained, the MINISTRY shall be responsible for the supervision of the Petroleum Operations contemplated in this Contract. CONTRACTOR shall: ----------
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Production Sharing Contract. 15 November 2006 BETWEEN AND
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Production Sharing Contract. This HOA provides that, subject to satisfactory completion of confirmatory due diligence, entry into a formal farm-in agreement and receipt of necessary regulatory approvals: - Two high impact exploration xxxxx (Alameda and Zapato) to be drilled in Block 9; - Sonangol to fund 85% of all costs associated with the completion of this two well drilling campaign to earn 70% participating interest in Block 9; - Melbana to fund 15% and retain a 30% participating interest in Block 9; - After the completion of these two xxxxx, Sonangol and Melbana shall bear their own costs and expenses in proportion to each of their participating interests; - Sonangol to immediately pay Xxxxxxx’s past costs of approximately $5.0 million, largely covering Xxxxxxx’s forecast funding commitment to these xxxxx; and - Melbana to remain operator, until the completion of the two well drilling campaign, thus maintaining responsibility for operations and management of costs. • All permits, environmental approvals and land access agreements are already in place and are being extended, as necessary. Tenders for rigs and services are being refreshed. • Block 9 is independently assessed to have 14.8 billion barrels of oil in place (best estimate) and Prospective Resources of 676 million barrels.1
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Production Sharing Contract. The Consortium Members have established and will establish, in specific documents, without prejudice to documents and commitments made in the Production Sharing Contract, rules and special conditions to internally regulate the individual relations, considering their condition of Consortium Members, as well as the accomplishment of the Operations of the Consortium.
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Production Sharing Contract. The Production Sharing Contracts are in full force and effect with respect to the Company. Except as disclosed in Section 3.5 of the Disclosure Schedule, the Company’s interest in the Production Sharing Contracts are free and clear of any Encumbrances or burdens other than those created by the Production Sharing Contracts, applicable Law or any Contract. To Seller’s knowledge, the Company has not done any act or committed any default whereby the Production Sharing Contracts or the Company’s interest therein would reasonably be expected to be cancelled, terminated, encumbered, suspended, expropriated or seized, except as would not have a Material Adverse Effect. Notwithstanding anything to the contrary in this Section 3.5 or elsewhere in this Agreement, Seller does not represent that the Company will be able to take full advantage of its rights under the Production Sharing Contracts, that CNOOC (or its successor in interest) will perform its obligations under, or comply with the terms of, the Production Sharing Contracts, or that CNOOC (or its successor in interest) or any Chinese Governmental Authority will refrain from attempting to terminate the Production Sharing Contracts, or that CNOOC (or its successor in interest) or any Chinese Governmental Authority will refrain from attempting to apply varying terms or laws to the Production Sharing Contracts, the Contractor under the Production Sharing Contracts, or the Company.
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Production Sharing Contract. Block 11A Ministry of Energy Page 76 Where it is necessary to complete an expenditure in a budget item in the approved participation work programme, the operator may exceed the budget for the budget item by the lesser of ten per cent (10%) thereof or.................U.S.D ) and shall report promptly such excess expenditure to the non-operators. The operator may spend not more than ............................U.S. dollars (USD ) on petroleum operations in the participation area not included in an approved participation work programme, provided that such expenditure shall not be for items previously rejected by the operating committee. The operator shall report promptly that expenditure to the non-operators and, if it is approved in accordance with Article 4 (6), the operator may make further expenditure thereon or on other items not exceeding U.S. dollars (U.S.$ ) in that year. The limits in this Article 3(10) may be changed from time to time by the operating committee. In the case of emergency, the operator may make such immediate expenditure and take such immediate action as may seem necessary for the protection of life or property or the prevention of pollution and such emergency expenditure shall be reported promptly to the parties by the operator.
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Production Sharing Contract. The Production Sharing Contract (PSC) relating to the Cambay Field dated 23 September 1994 executed by and between Government of India, GSPC and Niko Resources Ltd as amended on 21 July 2006, 8 May 2007 and 11 December 2009 respectively.
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Related to Production Sharing Contract

  • QUANTITY BASIS OF CONTRACT – NO GUARANTEED QUANTITIES The contract established has no guarantee of any specific quantity and the State is obligated only to buy that quantity which is needed by its agencies.

  • OGS Centralized Contract Terms and Conditions have been renumbered as depicted in the following chart: Current Amended Section Title 4.25 4.26 Severability 4.26 4.27 Entire Agreement

  • Interconnection Customer Compensation If the CAISO requests or directs the Interconnection Customer to provide a service pursuant to Articles 9.6.3 (Payment for Reactive Power) or 13.5.1 of this LGIA, the CAISO shall compensate the Interconnection Customer in accordance with the CAISO Tariff.

  • Customer Contracts 6.2.1 The Redistributor should ensure that its contracts with its Customers give it all necessary rights to control and monitor Data use. 6.2.2 The Redistributor is obliged to make the contents of this Schedule available to its customers.

  • MASTER CONTRACT This Master Contract is entered into this 1st day of July, 2014, between Westlake Charter Schools (hereinafter referred to as “LEA”) and CARE Educational Services (hereinafter referred to as “CONTRACTOR”) for the purpose of providing special education and/or related services to LEA students with exceptional needs under the authorization of California Education Code sections 56157, 56361 and 56365 et seq. and Title 5 of the California Code of Regulations section 3000 et seq., AB490 (Chapter 862, Statutes of 2003) and AB1858 (Chapter 914, Statutes of 2004). It is understood that this agreement does not commit LEA to pay for special education and/or related services provided to any LEA student, or CONTRACTOR to provide such special education and/or related services, unless and until an authorized LEA representative approves the provision of special education and/or related services by CONTRACTOR. Upon acceptance of a LEA student, CONTRACTOR shall submit to LEA an Individual Services Agreement (hereinafter referred to as “ISA”) and a Nonpublic Services Student Enrollment form as specified in the LEA Procedures. Unless otherwise agreed in writing, these forms shall acknowledge CONTRACTOR’s obligation to provide all services specified in the student’s Individualized Education Plan (hereinafter referred to as “IEP”). The ISA shall be executed within ninety (90) days of an LEA student’s enrollment. XXX and CONTRACTOR shall enter into an ISA for each LEA student served by CONTRACTOR. As available and appropriate, the LEA shall make available access to any electronic IEP system and /or electronic data base for ISA developing including invoicing. Unless placement is made pursuant to an Office of Administrative Hearings (hereinafter referred to as “OAH”) order, a lawfully executed agreement between LEA and parent or authorized by XXX for a transfer student pursuant to California Education Code section 56325, XXX is not responsible for the costs associated with nonpublic agency placement until the date on which an IEP team meeting is convened, the IEP team determines that a nonpublic agency placement is appropriate, and the IEP is signed by the LEA student’s parent.

  • SUB-CONTRACTING 31.1. The Authority approves the appointment of the sub-contractors specified in Schedule 10 (Approved Sub-contractors) in respect of the obligations specified in that Schedule. 31.2. The Contractor may not sub-contract its obligations under the Framework Agreement to other sub-contractors without the prior written consent of the Authority. Sub-contracting of any part of the Framework Agreement shall not relieve the Contractor of any obligation or duty attributable to the Contractor under the Framework Agreement. The Contractor shall be responsible for the acts and omissions of its sub-contractors as though they are its own. 31.3. Where the Contractor enters into a sub-contract the Contractor must ensure that a provision is included which: 31.3.1. requires payment to be made of all sums due by the Contractor to the sub- contractor within a specified period not exceeding 30 days from the receipt of a valid invoice as defined by the sub-contract requirements and provides that, where the Authority has made payment to the Contractor in respect of Services and the sub-contractor’s invoice relates to such Services then, to that extent, the invoice must be treated as valid and, provided the Contractor is not exercising a right of retention or set-off in respect of a breach of contract by the sub-contractor or in respect of a sum otherwise due by the sub-contractor to the Contractor, payment must be made to the sub-contractor without deduction; 31.3.2. notifies the sub-contractor that the sub-contract forms part of a larger contract for the benefit of the Authority and that should the sub-contractor have any difficulty in securing the timely payment of an invoice, that matter may be referred by the sub- contractor to the Authority; 31.3.3. requires that all contracts with subcontractors and suppliers which the subcontractor intends to procure, and which the subcontractor has not before the date of this Framework Agreement, already planned to award to a particular supplier are advertised through the Public Contracts Scotland procurement portal (xxx.xxxxxxxxxxxxxxxxxxxxxxx.xxx.xx) and awarded following a fair, open, transparent and competitive process proportionate to the nature and value of the contract; and 31.3.4. is in the same terms as that set out in this clause 31.3 (including for the avoidance of doubt this clause 31.3.4) subject only to modification to refer to the correct designation of the equivalent party as the Contractor and sub-contractor as the case may be. 31.4. The Contractor shall include in every sub-contract: 31.4.1 a right for the Contractor to terminate that sub-contract if the relevant sub- contractor fails to comply in the performance of its contract with legal obligations in the fields of environmental, social or employment law or if any of the termination events (involving substantial modification of the Contract, contract award despite the existence of exclusion grounds or a serious infringement of EU legal obligations) specified in clause 42.4 occur; and 31.4.2 a requirement that the sub-contractor includes a provision having the same effect as 31.4.1 in any sub-contract which it awards. In this Clause 31.4, ‘sub-contract’ means any contract between two or more contractors, at any stage of remoteness from the Authority in a sub-contracting chain, made wholly or substantially for the purpose of performing (or contributing to the performanace of) the whole or any part of this Framework Agreement. 31.5. Where requested by the Authority, copies of any sub-contract must be sent by the Contractor to the Authority as soon as reasonably practicable. 31.6. Where the Contractor proposes to enter into a sub-contract it must: 31.6.1 advertise its intention to do so in at least one trade journal, and the Public Contracts Scotland Portal; and 31.6.2 follow a procedure leading to the selection of the sub-contractor which ensures reasonable competition following principles of equal treatment, non-discrimination and transparency and which ensures that such procedure is accessible by small and medium enterprises.

  • C1 Contract Price In consideration of the Contractor’s performance of its obligations under the Contract, the Authority shall pay the Contract Price in accordance with clause C2 (Payment and VAT).

  • Interconnection Customer Payments Not Taxable The Parties intend that all payments or property transfers made by the Interconnection Customer to the Participating TO for the installation of the Participating TO's Interconnection Facilities and the Network Upgrades shall be non-taxable, either as contributions to capital, or as a refundable advance, in accordance with the Internal Revenue Code and any applicable state income tax laws and shall not be taxable as contributions in aid of construction or otherwise under the Internal Revenue Code and any applicable state income tax laws.

  • Complete Contract This Contract contains all the terms agreed upon by the Parties with respect to the subject matter of this Contract and supersedes all prior agreements, arrangements, and communications between the Parties concerning such subject matter, whether oral or written.

  • Participating TO’s Interconnection Facilities The Participating TO shall design, procure, construct, install, own and/or control the Participating TO’s Interconnection Facilities described in Appendix A at the sole expense of the Interconnection Customer. Unless the Participating TO elects to fund the capital for the Participating TO’s Interconnection Facilities, they shall be solely funded by the Interconnection Customer.

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