Common use of PROFIT OIL SHARING Clause in Contracts

PROFIT OIL SHARING. Profit Oil Sharing The Contracting Party and the Contracted Party shall share, on a monthly basis, the volume of Oil and Gas corresponding to the Profit Oil produced in the Contract Area. The Profit Oil share applicable to the Contracting Party shall vary based on the average Xxxxx Oil price and the average daily Oil Production in the producing xxxxx in the Development Area or Field, according to the table in Annex XII. The oil price shall be the monthly average of the daily prices of Xxxxx Dated, according to the quotation published on a daily basis by Xxxxx’x Crude Oil Marketwire. The volume of Natural Gas produced shall be shared in the same percentage applied to the Oil volume sharing. Xxxxx with restricted Oil Production due to technical and operational issues and which are incurring losses shall not be taken into account in the average calculation, at PPSA’s discretion. The Oil and Gas volume corresponding to the Profit Oil shall be measured and made available according to the guidelines in Annex VII and Section Seventeen.

PROFIT OIL SHARING. Profit Oil Sharing The Contracting Party and the Contracted Party Contractor shall share, on a monthly basis, the volume of Oil and Gas corresponding to the Profit Oil produced in the Contract Area. The Profit Oil share applicable to the Contracting Party shall vary based on the average Xxxxx Oil price and the average daily Oil Production in the producing xxxxx in the Development Area or Field, according to the table in Annex XII. The oil price shall be the monthly average of the daily prices of Xxxxx Dated, according to the quotation published on a daily basis by Xxxxx’x Crude Oil Marketwire. The volume of Natural Gas produced shall be shared in the same percentage applied to the Oil volume sharing. Xxxxx with restricted Oil Production due to technical and operational issues and which that are incurring presenting losses shall not be taken into account in calculation of the average calculationaverage, at PPSA’s discretion. The Oil and Gas volume corresponding to the Profit Oil shall be measured and made available according to the guidelines in of Annex VII and Section Seventeen.

PROFIT OIL SHARING. Profit Oil Sharing The Contracting Party and the Contracted Party Contractor shall share, on a monthly basis, the volume of Oil and Gas corresponding to the Profit Oil produced in the Contract Area. The Profit Oil share applicable to the Contracting Party shall vary based on the average Xxxxx Oil price and the average daily Oil Production in the producing xxxxx in the Development Area or Field, according to the table in Annex XII. The oil Oil price shall be the monthly average of the daily prices of Xxxxx Dated, according to the quotation published on a daily basis by Xxxxx’x Crude Oil Marketwire. The volume of Natural Gas produced shall be shared in the same percentage applied to the Oil volume sharing. Xxxxx with restricted Oil Production due to technical and operational issues and which that are incurring presenting losses shall not be taken into account in calculation of the average calculationaverage, at PPSA’s discretion. The Oil and Gas volume corresponding to the Profit Oil shall be measured and made available according to the guidelines in of Annex VII and Section Seventeen.

PROFIT OIL SHARING. Profit Oil Sharing The Contracting Party and the Contracted Party Parties shall share, on a monthly basis, the volume of Oil and Gas corresponding to the Profit Oil produced in the Contract Area. The Profit portion of the Oil share Surplus applicable to the Contracting Party shall will vary based depending on the average price of Xxxxx Oil price and the average daily Daily Production of Oil Production in the from producing xxxxx in the Development Area or Field, according to as shown in the table in Annex XII. X. The oil price shall be the monthly average of the daily prices of Xxxxx Dated, according to the quotation published on a daily basis by Xxxxx’x Crude Oil Marketwire. The volume of Natural Gas produced shall be shared in the same percentage applied to the Oil oil volume sharing. Xxxxx with restricted Oil Production due to technical and operational issues and which are incurring losses shall not be taken into account in the average calculation, at PPSAManager’s discretion. The Oil and Gas volume corresponding to the Profit Oil shall be measured and made available according to the guidelines in Annex VII VI and Section Clause Seventeen.