Common use of The Operator Clause in Contracts

The Operator. 3.1 The Operator shall carry out and administer the day to day management of the joint venture activities. The activities shall be carried out in accordance with the terms of this Agreement, the decisions of the management committee, the conditions specified in the Production Licence, applicable law and other resolutions made by the authorities. The Operator shall in its capacity as such neither have profit nor loss through the execution of its duties, unless otherwise provided in this Agreement. 3.2 Unless otherwise specified, the Operator shall act on behalf of the Parties of the joint venture. This includes the rights and obligations to obtain all necessary consents, approvals and licences, to enter into requisite agreements in the name of and on behalf of the joint venture, and to make timely payments in accordance with the Agreement of all expenses incurred from the activities for the Parties of the joint venture. 3.3 The Operator shall prepare the matters that are to be considered by the management committee. He shall keep the management committee informed of events and circumstances which may be of importance to the joint venture. The Operator's organization of the activities shall enable the management committee and the Parties to supervise and, moreover, have access in Norway to all information concerning the activities. 3.4 Reports and other information concerning the activities shall be prepared and submitted to the management committee as soon as such information is available, or as often as the management committee or one of the Parties reasonably makes a request for it. Such information shall, inter alia, include: a) Copies of logs; b) Copies of records on drilling operations; c) Copies of reports on testing analysis etc.; d) Copies of the "final well report" with the "composite log"; e) Copies of all geological and geophysical reports, maps in connection with work carried out by the Operator or by contractors engaged by the Operator, with the exception of magnetic tapes. Such magnetic tapes shall be stored by the Operator in Norway and made available to all Parties upon request; f) Field and well data, including reservoir studies and evaluations of reserves; g) Cores and samples of stones and liquids from the drilling xxxxx. Samples and cores left after distribution to the Parties and Norwegian authorities shall be stored in Norway; h) Copies of detailed final reports for each completed well and reports of subsequent alterations and reparations, including the result from completed functional tests and the "flow test"; i) Copies of daily and periodic reports on exploration, development, maintenance, production and other activities. The reports shall, inter alia, contain information on problems or accidents, with a statement of the cause and a description of repair work. The reports for the development phase shall, inter alia, provide a summary of the progress. The production reports shall, inter alia, contain information concerning the quantity and quality of the Petroleum produced; j) Copies of contingency plans, safety manuals, safety and accident reports; k) A chart of the Operator's organization and of how the Operator, the contractors and the subcontractors at any time man their organization with regard to activities under this Agreement; l) Copies of evaluations and reports on technical, economical as well as other issues in connection with the activities; m) Copies of reports submitted to the Norwegian authorities by the Operator, and copies of minutes and correspondence between the Operator and the Norwegian authorities regarding the activities under this Agreement; n) Periodic development reports and status reports. The reports shall give account for any substantial deviations from the approved budget and work program. The Operator may also be required to prepare amendments or supplements to the available information. 3.5 If the joint venture or any of the Parties sustain losses arising from the Operator's performance of its functions as an operator, the Operator shall only be liable for such losses provided it is the result of wilful misconduct or gross negligence by the management or supervisory personnel of the Operator or any of its Affiliated companies. The Operator shall under no circumstances be liable for losses caused by delay in or stop of production. Nor is the Operator liable for any loss suffered by the Parties in connection with damages to third parties caused by a spill of Petroleum outside the safety zone in excess of the loss the Operator suffers as a Party. The same limitation of liability shall apply to a Party performing the Operator's functions in its place.

The Operator. 3.1 7.1 [name of the operator] has, subject to the approval of the Ministry been appointed as Operator with the rights and duties which follow from this Agreement. The Operator shall carry out and administer the day to day-to-day management of the joint venture activitiesUnit Operations. The activities Unit Operations shall be carried out in accordance with the terms of this Agreement, the decisions of the management committeeManagement Committee, the conditions specified in the Production LicenceLicences, applicable law and other resolutions made by the authorities. The Operator shall in its capacity as such neither have profit nor loss through the execution of its duties, unless otherwise provided in this Agreement. 3.2 7.2 Unless otherwise specified, the Operator shall act on behalf of the Parties of the joint ventureUnit. This includes the rights and obligations to obtain all necessary consents, approvals and licences, to enter into requisite agreements in the name of and on behalf of the joint ventureUnit, and to make timely payments in accordance with the this Agreement of all expenses incurred from the activities for the Parties of the joint ventureUnit Operations. 3.3 7.3 The Operator shall prepare the matters that are to be considered by the management committeeManagement Committee. He shall keep the management committee Management Committee informed of events and circumstances which may be of importance to the joint ventureUnit. The Operator's organization of the activities Unit Operations shall enable the management committee Management Committee and the Parties to supervise and, moreover, have access in Norway to all information concerning the activitiesUnit Operations. 3.4 7.4 Reports and other information concerning the activities Unit Operations shall be prepared and submitted to the management committee Management Committee as soon as such information is available, or as often as the management committee Management Committee or one of the Parties reasonably makes a request for it. Such information shall, inter alia, include: a) Copies of logs; b) Copies of records on drilling operations; c) Copies of reports on testing analysis etc.; d) Copies of the "final well report" with the "composite log"; e) Copies of all geological and geophysical reports, maps in connection with work carried out by the Operator or by contractors engaged by the Operator, with the exception of magnetic tapes. Such magnetic tapes shall be stored by the Operator in Norway and made available to all Parties upon request; f) Field and well data, including reservoir studies and evaluations of reserves; g) Cores and samples of stones and liquids from the drilling xxxxx. Samples and cores left after distribution to the Parties and Norwegian authorities shall be stored in Norway; h) Copies of detailed final reports for each completed well and reports of subsequent alterations and reparations, including the result from completed functional tests and the "flow test"; i) Copies of daily and periodic reports on exploration, development, maintenance, production and other activities. The reports shall, inter alia, contain information on problems or accidents, with a statement of the cause and a description of repair work. The reports for the development phase shall, inter alia, provide a summary of the progress. The production reports shall, inter alia, contain information concerning the quantity and quality of the Petroleum produced; j) Copies of contingency plans, safety manuals, safety and accident reports; k) A chart of the Operator's organization and of how the Operator, the contractors and the subcontractors at any time man their organization with regard to activities under this AgreementUnit Operations; l) Copies of evaluations and reports on technical, economical as well as other issues in connection with the activitiesUnit Operations; m) Copies of reports submitted to the Norwegian authorities by the Operator, and copies of minutes and correspondence between the Operator and the Norwegian authorities regarding the activities under this Agreement; Unit Operations; n) Periodic development reports and status reports. The reports shall give account for any substantial deviations from the approved budget and work program. The Operator may also be required to prepare amendments or supplements to the available information. 3.5 7.5 If the joint venture Unit or any of the Parties sustain losses arising from the Operator's performance of its functions as an operator, the Operator shall only be liable for such losses provided it is the result of wilful misconduct or gross negligence by the management or supervisory personnel of the Operator or any of its Affiliated companies. The Operator shall under no circumstances be liable for losses caused by delay in or stop of production. Nor is the Operator liable for any loss suffered by the Parties in connection with damages to third parties caused by a spill of Petroleum outside the safety zone in excess of the loss the Operator suffers as a Party. The same limitation of liability shall apply to a Party performing the Operator's functions in its place.