Common use of Production Sharing Clause in Contracts

Production Sharing. (1) The remaining ----- ------- percent (---%) of Petroleum shall be divided between EGPC and CONTRACTOR based on Xxxxx xxxxx and according to the following shares: Such shares shall be taken and disposed of pursuant to Article VII (e) (i) Crude Oil (Quarterly Average ): Xxxxx Xxxxx US$/bbl Crude Oil produced and saved under this Agreement and not used in Petroleum operations, Barrel of Oil Per Day (BOPD) (quarterly average) Less than or equal to 5,000 BOPD More than 5,000 BOPD and less than or equal to 10,000 BOPD More than 10,000 BOPD and less than or equal to 15,000 BOPD More than 15,000 BOPD and less than or equal to 25,000 BOPD More than 25,000 BOPD EGPC % Cont. % EGPC % Cont. % EGPC % Cont. % EGPC % Cont. % EGPC % Cont. % Less than or equal to 40 US$ More than 40 US$ and less than or equal to 60 US$ More than 60 US$ and less than or equal to 80 US$ More than 80 US$ and less than or equal to 100 US$ More than 100 US$ (ii) Gas &LPG (Quarterly Average): (2) After the end of each contractual year during the term of any Gas Sales Agreement entered into pursuant to Article VII (e), EGPC and CONTRACTOR (as sellers) shall render to EGPC or EGAS (as buyer) a statement for an amount of Gas, if any , equal to the amount by which the quantity of Gas of which EGPC or EGAS (as buyer) has taken delivery falls below seventy five percent (75%) of the Contract quantities of Gas as established by the applicable Gas Sales Agreement (the "Shortfall"), provided the Gas is available. Within sixty (60) days of receipt of the statement, EGPC or EGAS (as buyer) shall pay EGPC and CONTRACTOR (as sellers) for the amount of the Shortfall, if any. The Shortfall shall be included in EGPC's and CONTRACTOR's entitlement to Gas pursuant to Article VII (a) and Article VII

Production Sharing. (1) The remaining ----- ------- percent (---%) of Petroleum shall be divided between EGPC and CONTRACTOR based on Xxxxx xxxxx and according to the following shares: Such shares shall be taken and disposed of pursuant to Article VII (e)) . (i) Crude Oil (Quarterly Average ): Xxxxx Xxxxx US$/bbl Crude Oil produced and saved under this Agreement and not used in Petroleum operations, Barrel of Oil Per Day (BOPD) (quarterly average) Less than or equal to 5,000 BOPD More than 5,000 BOPD and less than or equal to 10,000 BOPD More than 10,000 BOPD and less than or equal to 15,000 BOPD More than 15,000 BOPD and less than or equal to 25,000 BOPD More than 25,000 BOPD EGPC % Cont. % EGPC % Cont. % EGPC % Cont. % EGPC % Cont. % EGPC % Cont. % Less than or equal to 40 US$ More than 40 US$ and less than or equal to 60 US$ More than 60 US$ and less than or equal to 80 US$ More than 80 US$ and less than or equal to 100 US$ More than 100 US$ (ii) Gas &LPG (Quarterly Average): (2) After the end of each contractual year during the term of any Gas Sales Agreement entered into pursuant to Article VII (e), EGPC and CONTRACTOR (as sellers) shall render to EGPC or EGAS (as buyer) a statement for an amount of Gas, if any , equal to the amount by which the quantity of Gas of which EGPC or EGAS (as buyer) has taken delivery falls below seventy five percent (75%) of the Contract quantities of Gas as established by the applicable Gas Sales Agreement (the "Shortfall"), provided the Gas is available. Within sixty (60) days of receipt of the statement, EGPC or EGAS (as buyer) shall pay EGPC and CONTRACTOR (as sellers) for the amount of the Shortfall, if any. The Shortfall shall be included in EGPC's and CONTRACTOR's entitlement to Gas pursuant to Article VII (a) and Article VIIVII (b) in the fourth (4th) quarter of such contractual year. Quantities of Gas not taken but to be paid for shall be recorded in a separate “Take-or-Pay Account “. Quantities of Gas ("Make Up Gas") which are delivered in subsequent years in excess of seventy five percent (75%) of the contract quantities of Gas as established by the applicable Gas Sales Agreement, shall be set against and reduce quantities of Gas in the “Take-or-Pay” account to the extent thereof and, to that extent, no payment shall be due in respect of such Gas. Such Make Up Gas shall not be included in CONTRACTOR's entitlement to Gas pursuant to Article VII (a) and (b). CONTRACTOR shall have no rights to such Make Up Gas. If at the end of any Contractual year, EGPC and CONTRACTOR (as sellers) fail to deliver seventy five percent (75%) of the annual contract quantity of Gas as defined in the Gas Sales Agreement with EGPC or EGAS (as buyer), the difference between seventy five percent (75%) of the annual Contract quantity of Gas and the actual Gas quantity delivered shall be referred to as the “Deliver- or - Pay Shortfall Gas”. EGPC or EGAS (as buyer) shall have the right to take a quantity of Gas equal to Deliver-or- Pay the Shortfall Gas and such quantity of Gas shall be priced at ninety percent (90%) of the Gas price as defined in the Gas Sales Agreement .The mechanism for the Deliver-or-Pay concept will be determined in the Gas Sales Agreement . The percentages set forth in Article VII (a) and (b) in respect of LPG produced from a plant constructed and operated by or on behalf of EGPC and CONTRACTOR shall apply to all LPG available for delivery.

Production Sharing. (1) The remaining ----- ------- percent (---%) of Petroleum shall be divided between EGPC and CONTRACTOR based on Xxxxx xxxxx and according to the following shares: Such shares shall be taken and disposed of pursuant to Article VII (e)) . (i) Crude Oil (Quarterly Average ): Xxxxx Xxxxx US$/bbl Crude Oil produced and saved under this Agreement and not used in Petroleum operations, Barrel of Oil Per Day (BOPD) (quarterly average) Less than or equal to 5,000 BOPD More than 5,000 BOPD and less than or equal to 10,000 BOPD More than 10,000 BOPD and less than or equal to 15,000 BOPD More than 15,000 BOPD and less than or equal to 25,000 BOPD More than 25,000 BOPD EGPC % Cont. % EGPC % Cont. % EGPC % Cont. % EGPC % Cont. % EGPC % Cont. % Less than or equal to 40 US$ More than 40 US$ and less than or equal to 60 US$ More than 60 US$ and less than or equal to 80 US$ More than 80 US$ and less than or equal to 100 US$ More than 100 US$ (ii) Gas &LPG (Quarterly Average): (2) After the end of each contractual year during the term of any Gas Sales Agreement entered into pursuant to Article VII (e), EGPC and CONTRACTOR (as sellers) shall render to EGPC or EGAS (as buyer) a statement for an amount of Gas, if any , equal to the amount by which the quantity of Gas of which EGPC or EGAS (as buyer) has taken delivery falls below seventy five percent (75%) of the Contract quantities of Gas as established by the applicable Gas Sales Agreement (the "Shortfall"), provided the Gas is available. Within sixty (60) days of receipt of the statement, EGPC or EGAS (as buyer) shall pay EGPC and CONTRACTOR (as sellers) for the amount of the Shortfall, if any. The Shortfall shall be included in EGPC's and CONTRACTOR's entitlement to Gas pursuant to Article VII (a) and Article VII