Common use of Quarterly Statement Clause in Contracts

Quarterly Statement. The Contractor shall prepare a quarterly Cost Recovery Statement containing the following information with respect to the Contract Area, showing the Hydrocarbons Costs as classified pursuant to Article 2 of this Accounting Procedure and separated for each Field, if any: (a) The recoverable Hydrocarbons Costs carried forward from the previous Quarter. (b) The recoverable Hydrocarbons Costs for the Quarter in question. (c) The credits under the Contract for the Quarter in question. (d) The total recoverable Hydrocarbons Costs for the Quarter in question, equal to the sum of (a) plus (b) less (c). (e) The quantity and value of the production of Hydrocarbons taken by the Contractor for cost recovery pursuant to the provisions of Article 6.1 of the Contract in the Quarter in question. (f) The amount of Hydrocarbons Costs to be carried forward into the next Quarter. The quarterly statement shall be submitted to the Minister no later than ten (10) days after the end of each Quarter. In addition, Contractor shall have an audit of Hydrocarbons Costs conducted by its auditors semi-annually and such report shall be provided to the Ministry.

Quarterly Statement. The Contractor shall prepare a quarterly Cost Recovery Statement containing the following information with respect to the Contract Area, showing the Hydrocarbons Costs as classified pursuant to Article 2 of this Accounting Procedure and separated for each Field, if any:. (a) The recoverable Hydrocarbons Costs carried forward from the previous Quarter. (b) The recoverable Hydrocarbons Costs for the Quarter in question. (c) The credits Credits under the Contract for the Quarter in question. (d) The total recoverable Hydrocarbons Costs for the Quarter in question, equal to the sum of (a) plus (b) less (c). (e) The quantity and value of the production of Hydrocarbons taken by the Contractor for cost recovery pursuant to the provisions of Article 6.1 8.2 of the Contract in the Quarter in question. (f) The amount of Hydrocarbons Costs to be carried forward into the next Quarter. The quarterly statement shall be submitted to the Minister no later than ten (10) days after the end of each Quarter. In addition, Contractor shall have an audit of Hydrocarbons Costs conducted by its auditors semi-annually and such report shall be provided to the Ministry.

Quarterly Statement. The Contractor shall prepare a quarterly Cost Recovery Statement containing the following information with respect to the Contract Area, showing the Hydrocarbons Costs as classified pursuant to Article 2 of this Accounting Procedure and separated for each Field, if any:. (a) The recoverable Hydrocarbons Costs carried forward from the previous Quarter. (b) The recoverable Hydrocarbons Costs for the Quarter in question. (c) The credits under the Contract for the Quarter in question. (d) The total recoverable Hydrocarbons Costs for the Quarter in question, equal to the sum of (a) plus (b) less (c). (e) The quantity and value of the production of Hydrocarbons taken by the Contractor for cost recovery pursuant to the provisions of Article 6.1 of the Contract in the Quarter in question. (f) The amount of Hydrocarbons Costs to be carried forward into the next Quarter. The quarterly statement shall be submitted to the Minister no later than ten (10) days after the end of each Quarter. In addition, Contractor shall have an audit of Hydrocarbons Costs conducted by its auditors semi-annually and such report shall be provided to the Ministry.

Quarterly Statement. The Contractor shall prepare a quarterly Cost Recovery Statement containing the following information with respect to the Contract Area, showing the Hydrocarbons Costs as classified pursuant to Article 2 of this Accounting Procedure accounting procedure and separated for each Field, if any:. (a) The recoverable Hydrocarbons Costs carried forward from the previous Quarter. (b) The recoverable Hydrocarbons Costs for the Quarter in question. (c) The credits Credits under the Contract for the Quarter in question. (d) The total recoverable Hydrocarbons Costs for the Quarter in question, equal to the sum of (a) plus (b) less (c). (e) The quantity and value of the production of Hydrocarbons taken by the Contractor for cost recovery pursuant to the provisions of Article 6.1 of 8.1of the Contract in the Quarter in question. (f) The amount of Hydrocarbons Costs to be carried forward into the next Quarter. The quarterly statement shall be submitted to the Minister no later than ten (10) days after the end of each Quarter. In addition, Contractor shall have an audit of Hydrocarbons Hydrocarbon Costs conducted by its auditors semi-annually and such report shall be provided to the Ministry. The reasonable costs associated therewith shall be cost- recoverable.