Common use of RIGHTS AND OBLIGATIONS OF THE CONTRACTOR Clause in Contracts

RIGHTS AND OBLIGATIONS OF THE CONTRACTOR. 3.1. The Contractor binds itself to exercise the rights and perform the obligations contained in this Agreement in an efficient, diligent, and expert manner. In addition to the rights conferred, and obligations undertaken, pursuant to other provisions of this Agreement, the Contractor must: (a) Carry out Petroleum Operations in accordance with Best International Industry Standards and Practices regarding operations, health and safety, security, conservation of resources and environment protection by employing modern, efficient machinery and applying suitable technology and methods in order to carry out the operations so as to maximize efficient recovery of oil and gas resources; (b) Maintain buildings, xxxxx, facilities, machinery, equipment, and any other property necessary to perform the operations hereunder in good operating conditions; (c) Take all steps necessary that these operations are carried out with as low as reasonably practicable impact on the environment. The Contractor must take reasonable practical steps to ensure that its activities have the lowest commercially and technically possible Greenhouse Gas (GHG) operational emissions; (d) Allow the Minister or the Minister’s designee, according to the Accounting Procedure, and any other competent entity, in accordance with the applicable law, to audit the accounting records; (e) Take all appropriate measures in emergency situations and upon any unforeseeable circumstances beyond the control of the parties, including, but not limited to, the performance of all necessary activities to clean and decontaminate surface and groundwater, as well as any other land, in the event of leak and/or contamination; (x) Xxxx inform the Minister or any other relevant Government entity with applicable authority of the existence of mineral, hydrological and other resources discovered as a result of the Petroleum Operations; (g) Allow the Minister and other relevant Government entities with applicable authority to control compliance with the Contractor’s obligations and facilitate activities of inspectors appointed to supervise Petroleum Operations; (h) Provide all the information, environmental impact assessments and specific technical studies required for the purposes of obtaining applicable environmental licenses; (i) Make sure Subcontractors comply with the same safety and environmental obligations the Contractor is subject to; (j) Indemnify and hold the State harmless, as the case may be, from all claims, losses and damages of any nature whatsoever that are caused by the Contractor’s and Subcontractors’ operations. Expenses incurred by the Contractor on this account shall not be considered Cost Oil; and (k) Make all the payments and entitlements due to the State in a timely manner. 3.2. The Contractor shall have the sole and exclusive right to conduct Petroleum Operations within the Contract Area and the free disposal of its share of the Petroleum produced.

RIGHTS AND OBLIGATIONS OF THE CONTRACTOR. 3.1. The Contractor binds itself to exercise the rights and perform the obligations contained in this Agreement in an efficient, diligent, and expert manner. In addition to the rights conferred, and obligations undertaken, pursuant to other provisions of this Agreement, the Contractor must: (a) Carry out Petroleum Operations in accordance with Best International Industry Standards and Practices regarding operations, health and safety, security, conservation of resources and environment protection by employing modern, efficient machinery and applying suitable technology and methods in order to carry out the operations so as to maximize efficient recovery of oil and gas resources; (b) Maintain buildings, xxxxx, facilities, machinery, equipment, and any other property necessary to perform the operations hereunder in good operating conditions; (c) Take all steps necessary that these operations are carried out with as low as reasonably practicable impact on the environment. The Contractor must take reasonable practical all steps to ensure necessary that its activities have the lowest commercially and technically possible Greenhouse Gas (GHG) operational emissions; (d) Allow the Minister or the Minister’s its designee, according to the Accounting Procedure, and any other competent entity, in accordance with the applicable law, to audit the accounting records; (e) Take all appropriate measures in emergency situations and upon any unforeseeable circumstances beyond the control of the parties, including, but not limited to, the performance of all necessary activities to clean and decontaminate surface and groundwater, as well as any other land, in the event of leak and/or contamination; (xf) Xxxx Duly inform the Minister Ministry or any other relevant competent Government entity with applicable authority Entity of the existence of mineral, hydrological and other resources discovered as a result of the Petroleum Operations; (g) Allow the Minister Ministry and other relevant competent Government entities with applicable authority Entities to control compliance with the Contractor’s obligations and facilitate activities of inspectors appointed to supervise Petroleum Operations; (h) Provide Provide, at its own expense, all the information, environmental impact assessments and specific technical studies required for the purposes of obtaining applicable environmental licenses; (i) Make sure Subcontractors comply with the same safety and environmental obligations the Contractor is subject to; (j) Indemnify and hold the State harmless, as the case may be, from all claimsany claim, losses legal action and damages of any nature whatsoever other charges from third parties that are may be caused by the Contractor’s and Subcontractors’ operations. Expenses incurred by the Contractor on this account shall not be considered Cost Oil; and (k) Make all the payments and entitlements due to the State in a timely manner. 3.2. The Contractor shall have the sole and exclusive right to conduct Petroleum Operations within the Contract Area and the free disposal of its share of the Petroleum producedArea.

RIGHTS AND OBLIGATIONS OF THE CONTRACTOR. ‌ 3.1. The Contractor binds itself to exercise the rights and perform the obligations contained in this Agreement in an efficient, diligent, and expert manner. In addition to the rights conferred, and obligations undertaken, pursuant to other provisions of this Agreement, the Contractor must: (a) Carry out Petroleum Operations in accordance with Best International Industry Standards and Practices regarding operations, health and safety, security, conservation of resources and environment protection by employing modern, efficient machinery and applying suitable technology and methods in order to carry out the operations so as to maximize efficient recovery of oil and gas resources; (b) Maintain buildings, xxxxx, facilities, machinery, equipment, and any other property necessary to perform the operations hereunder in good operating conditions; (c) Take all steps necessary that these operations are carried out with as low as reasonably practicable impact on the environment. The Contractor must take reasonable practical steps to ensure that its activities have the lowest commercially and technically possible Greenhouse Gas (GHG) operational emissions; (d) Allow the Minister or the Minister’s designee, according to the Accounting Procedure, and any other competent entity, in accordance with the applicable law, to audit the accounting records; (e) Take all appropriate measures in emergency situations and upon any unforeseeable circumstances beyond the control of the parties, including, but not limited to, the performance of all necessary activities to clean and decontaminate surface and groundwater, as well as any other land, in the event of leak and/or contamination; (x) Xxxx inform the Minister or any other relevant Government entity with applicable authority of the existence of mineral, hydrological and other resources discovered as a result of the Petroleum Operations; (g) Allow the Minister and other relevant Government entities with applicable authority to control compliance with the Contractor’s obligations and facilitate activities of inspectors appointed to supervise Petroleum Operations; (h) Provide all the information, environmental impact assessments and specific technical studies required for the purposes of obtaining applicable environmental licenses; (i) Make sure Subcontractors comply with the same safety and environmental obligations the Contractor is subject to; (j) Indemnify and hold the State harmless, as the case may be, from all claims, losses and damages of any nature whatsoever that are caused by the Contractor’s and Subcontractors’ operations. Expenses incurred by the Contractor on this account shall not be considered Cost Oil; and (k) Make all the payments and entitlements due to the State in a timely manner. 3.2. The Contractor shall have the sole and exclusive right to conduct Petroleum Operations within the Contract Area and the free disposal of its share of the Petroleum produced.