Common use of RIGHT OF ACQUISITION OF PETROLEUM Clause in Contracts

RIGHT OF ACQUISITION OF PETROLEUM. 10.1 If the Government requires Contractor to meet the internal Petroleum requirements of Pakistan, the following provisions shall apply. If the Government does not require Contractor to meet the internal Petroleum requirements of Pakistan, then Contractor is entitled to sell Contractor’s share of Petroleum produced from the Contract Area in Pakistan or elsewhere at Contractor’s election. The provisions set out below regarding the price for Petroleum delivered in Pakistan apply only where the Government has required Contractor to meet the internal Petroleum requirements of Pakistan.

RIGHT OF ACQUISITION OF PETROLEUM. 10.1 If the Government requires Contractor to meet the internal Petroleum requirements of Pakistan, the following provisions shall apply. If the Government does not require Contractor to meet the internal Petroleum requirements of Pakistan, then Contractor is entitled to sell Contractor’s share of Petroleum produced from the Contractor Contract Area in Pakistan or elsewhere at Contractor’s election. The provisions set out below regarding the price for Petroleum delivered in Pakistan apply only where the Government has required Contractor to meet the internal Petroleum requirements of Pakistan.