Common use of Scope of Application of the Agreement Clause in Contracts

Scope of Application of the Agreement. 2.1. This Agreement is a Production Sharing Agreement governed by the provisions hereunder. 2.2. The Government authorises the Contractor, under the conditions set forth herein, to exclusively perform all of the Petroleum Operations that are appropriate and necessary within the context of this Agreement. 2.3. The Contractor undertakes to carry out all of the work necessary for performing the Petroleum Operations set forth in this Agreement, in accordance with Best Industry Practice, and to be subject to the laws and regulations in effect in the Republic of Côte d’Ivoire unless otherwise provided by the Agreement. 2.4. The Contractor shall provide all financial and technical means necessary for the proper development of the Petroleum Operations in accordance with the Best Industry Practice. 2.5. The Contractor shall solely assume the financial risk related to performing the Petroleum Operations. The related Petroleum Costs shall be recoverable by the Contractor in accordance with the provisions of article 16 and 21. 2.6. In the event of production, the Total Production resulting from the Petroleum Operations, during the period of validity of this Agreement, shall be shared between the Parties under the conditions defined in articles 16 and 21. 2.7. As of the Effective Date, the Delimited Region corresponds to the zone defined in Appendix 1. 2.8. As of the Effective Date the Government approves the appointment of: - KOSMOS as operator (“Operator”) in charge of directing and performing the Petroleum Operations in the name and on behalf of the Contractor from the Effective Date; 1. Any change in Operator shall be submitted to the Government in advance for approval. The Operator, in the name and on behalf of the Contractor, shall send the Government all reports, information and data stipulated under this Agreement, and especially including the association agreement and all agreements relevant to the Petroleum Operations, as applicable, binding the entities comprising the Contractor.