Common use of Social Projects Clause in Contracts

Social Projects. The Contractor commits to undertake social projects during the Exploration Period valued at US$17,000,000 (seventeen million United States dollars), capped at US$15,000,000 (fifteen million United States dollars) in the Exploration Phase I, US$1,000,000 (one million United States dollars) in Exploration Phase II and US$1,000,000 (one million United States dollars) in Exploration Phase III. If Petroleum is produced from the Contract Area, the Contractor shall undertake additional social projects according to the following schedule:

Social Projects. The Contractor commits to undertake social projects during the Exploration Period valued at US$17,000,000 (seventeen million United States dollars), capped at US$15,000,000 (fifteen million United States dollars) in the Exploration Phase I, US$1,000,000 (one million United States dollars) in Exploration Phase II and US$1,000,000 (one million United States dollars) in Exploration Phase III. If Petroleum is produced from the Contract Area, the Contractor shall undertake additional social projects according to the following schedule:: Cumulative Production (millions of Barrels or Barrels equivalent) Value (US$ million) of Project

Social Projects. The Contractor commits to undertake social projects during the Exploration Period valued at US$17,000,000 (seventeen million United States dollars), capped at US$15,000,000 (fifteen million United States dollars) in the Exploration Phase I, US$1,000,000 I,OOO,OOO (one million United States dollarsdoIlars) in Exploration Phase II and US$1,000,000 (one I,OOO,OOO(one million United States dollarsdoIlars) in Exploration Phase III. Ill. If Petroleum Petroleurn is produced from the Contract Area, the Contractor shall xxxXx undertake additional social projects according to the following schedule:: 40 5.0 60 7.5